"Innovation4Albania" Agency is created - New structure for the development of the startup ecosystem
The Council of Ministers approved the decision to establish the "Innovation4Albania" Agency, a public budgetary institution under the Ministry of Economy and Innovation, headquartered in Tirana.
The agency is financed by the state budget, donations and other legal sources. “Innovation4Albania” has the mission to contribute, encourage and promote innovation and the engagement in public administration of local and international experts in the implementation of advanced technologies. At the same time, “Innovation4Albania” will play a key role in ensuring the functioning and development of the startup ecosystem in the Republic of Albania, through their financial, institutional and technical support.
Meanwhile, the Agency, in order to achieve its mission, will cooperate with local and international organizations with similar fields of activity, with the aim of absorbing international best practices in the field of startup development. It will also draft policies, projects and initiatives in the field of innovation.
Another important function of “Innovation4Albania” is the management and monitoring of support funds for startups, administration of the Startup and Facilitator Registry, as well as providing a “one stop shop” service for new ventures. The agency will assist entities during the application process, provide information on government support schemes, and promote Albanian innovation initiatives in national and international markets.
The decision also provides for the establishment of Innovation Units within line ministries and central institutions. These units will have as their objective the identification of innovative concepts and processes, the performance of comparative analyses and studies, as well as the proposal and management of development projects in the relevant fields. Through these units, the “Open Innovation” cycle will also be implemented, which includes the identification of concrete challenges, the development of pilot projects and the testing of innovative solutions.
The Innovation Council will also be established next to the Agency, as an advisory and coordinating forum, which will serve for coordination between the main innovation actors, without financial cost to the state budget.
With the creation of “Innovation4Albania”, two existing structures are abolished: the State Agency for Support and Development of Startups and Facilitators, and the Agency for Innovation and Excellence. Meanwhile, the employees, assets and funds of these institutions will be transferred to the new agency, in accordance with the legislation in force.
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