The Innovation Fund of Montenegro is inviting applications for the WAVEMAKER Business Creation Award, a regional competition supporting innovative ventures that are developing scalable solutions for the blue economy. The program is designed to identify and accelerate promising ventures that address key challenges in the water, marine, and maritime sectors, bringing together startups, researchers, and innovators from across the region.
Program Focus
• Marine and freshwater ecosystem health
• Water efficiency and circularity
• Climate resilience of coastal areas and water systems
• Marine and water monitoring
• Smart maritime operations
• Marine robotics and autonomous systems
• Environmental intelligence
• The circular blue economy
• Innovation commercialization
• Business creation and market-oriented solutions
Eligibility Criteria
• Eligible Applicants: Startups, research spinouts, small and medium-sized enterprises, researchers commercializing their work, student-led ventures, and multidisciplinary innovation teams with scalable solutions and clear market potential.
• Geographic Scope: The call is open to applicants from Croatia, Italy, Slovenia, Montenegro, Cyprus, and other countries in the region.
• Language Requirement: The working language for both the program and the regional event is English.
• Diversity and Inclusion: Women-led ventures and teams that include members of underrepresented groups are particularly encouraged to apply.
Awards and Benefits
• Top Three Ventures: The three highest-ranked ventures will be recognized as official WAVEMAKERS and will receive a one-year EIT Water membership for 2027. This provides access to its European network, partners, programs, and business opportunities.
• Regional Winner: The regional winner will represent the ADRION region at the EIT Water Launch Event in Málaga on October 15, 2026. They will compete for the overall WAVEMAKER title and a €5,000 growth award.
Application Details
• Application Deadline: August 31, 2026.
This competition offers innovators an opportunity to strengthen their business models, connect with investors, and expand their market potential. For more information on the WAVEMAKER Business Creation Award, prospective applicants should visit the Innovation Fund of Montenegro.