The government aims to create the Albanian Innovation Fund - Capital and grants for startups. Business development strategy changes
The government has taken another step in supporting innovative entrepreneurship. The changes to the Business Development and Investment Strategy 2021–2027, which foresee the creation of the Albanian Innovation Fund, have been published in the Official Gazette.
The fund aims to address the lack of financing faced by Albanian startups and enterprises that have passed the initial stage of development and require capital to expand.
According to the document, the instrument will combine non-repayable grants with equity investments, promoting co-financing between the state and private investors. The aim is for public capital to serve as a catalyst to attract more private investments, rather than replacing them.
The fund will be designed and implemented by the Ministry of Economy and Innovation, through the "Innovation4Albania" agency, also relying on the experience of distributing 12 million euros in grants over the last three years.
The document foresees that the fund will be managed according to European Union models, with a clear separation between strategic oversight and investment decision-making, with the aim of guaranteeing transparency, meritocracy and independence from political influences.
Meanwhile, the size of the fund, the value of investments and the priority sectors will be determined in the design phase, after analyzing the innovation ecosystem and European best practices.
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