Bregu: Without strategic innovation management, Western Balkans will not turn ideas into investments

SARAJevo, (Patria) - Without strategic innovation management to improve capacities for incubation and acceleration of new technology development, companies from the Western Balkans region will continue to accumulate undeveloped inventions that do not allow for investment returns. We risk falling into the trap of finding innovative solutions that are then implemented in isolation. The region records an innovation rate of 33.7%, while in 15 EU countries it is 50 percent. On the other hand, in the region, we can find many isolated examples of scientific and entrepreneurial excellence,” said Majlinda Bregu, Secretary General of the Regional Cooperation Council (RCC), today at the first meeting regarding the establishment of the Competitiveness and Innovation Accelerator for the Western Balkans, held in Tirana.

"That is why we have gathered here today. Innovations require more ambitious thinking. Instead of allowing promising inventions to be lost within existing business units, we must establish a comprehensive innovation management function that would contribute to broader economic development. This is the first time the World Economic Forum is specifically addressing the Western Balkans. The idea to launch this activity is theirs, and I am honored that the RCC will be responsible for directing its implementation in this area. The World Economic Forum has already established competitiveness and innovation accelerators to help the economic development of several large countries, but such an accelerator is being introduced for the first time at the level of an entire region. I am truly glad that this moment has come because I felt a certain degree of concern that the region would otherwise soon find itself in a situation where it lags too far behind others in terms of innovation to be able to change that," Bregu said, the RCC announced.

In addition to Secretary General Bregu, the opening panel included the Prime Minister of Albania, Edi Rama, and the Head of the Strategic Department for Europe and Eurasia and Member of the Executive Board of the World Economic Forum, Martina Larkin, and was moderated by Eduart Shalsi, Albania's Minister of Entrepreneurship.

"We are pleased to be in Tirana today with ministers from the Western Balkan countries and directors of regional and international companies to launch activities for the establishment of the Competitiveness and Innovation Accelerator for the Western Balkans, which will also be the first regional accelerator within our Forum's Global Accelerator Network. The Strategic Dialogue on the Western Balkans is one of the Forum's key initiatives, and we will continue to cooperate closely with the economies of this region, supporting all future-oriented plans that enable economic growth, increase competitiveness, and the region's readiness for the Fourth Industrial Revolution," said Martina Larkin.

Prime Minister Rama concluded that this will represent a great challenge for all participants, a challenge that we cannot face alone, separated from each other, adding that the more examples of successful interaction we provide to the EU, the more the EU will respect our efforts and be more willing to be our partner and to accept this region.

Today's meeting brought together ministers from across the region responsible for innovation and competitiveness, namely Anila Denaj, Albania's Minister of Economy and Finance, Staša Košarac, Bosnia and Herzegovina's Minister of Foreign Trade and Economic Relations, Rozeta Hajdari, Kosovo's Minister of Economic Development*, Nina Angelovska, Minister of Finance of North Macedonia, Mladen Šarčević, Serbia's Minister of Education, Science and Technological Development, and Saša Ivanović, representing the Ministry of Education and Science of Montenegro, as well as representatives of the World Economic Forum and its partners, to jointly agree on the main priorities in developing an action plan, formalize the establishment of the Steering Group and the role of the regional coordinator, and define the framework of activities and key stages and goals for the accelerator for 2020.