Bregu: RCC Launches First Regional Innovation Competition in January 2022

SARAJEVO, (Patria) - On average, only one or two out of a hundred caterpillars become butterflies. Similarly, between 90 and 95 percent of startup companies worldwide fail during the first five years of operation. A great idea means little without a lot of effort, persistence and appropriate incentives. Without failure, there is no innovation and creativity. We want to encourage smart and creative young people from the Western Balkans to take risks and try - said RCC Secretary General Majlinda Bregu at the opening of the first Western Balkans Forum dedicated to new innovations and business, the Western Balkans Butterfly Innovation & Business Forum, today in Skopje.

The Western Balkans is ranked behind the European Union on the global enterprise innovation index and occupies between 50th and 84th place. Small, almost imperceptible shifts can bring about change over the years. A large number of significant advances can be found in the areas of food production, tourism, creative and manufacturing industries in the Western Balkans. Successful innovative enterprises, with the new values they bring, represent an important tool for the transformation of our region.  

„We are happy to share with you some successful innovation stories from our region over these two days. The forum dedicated to new innovations and business is not a one-time event. It is conceived as an annual gathering that will review the most exciting innovative ventures from the previous year and will help and encourage the regional innovation ecosystem. In January 2022, we will launch the first regional innovation competition, the Butterfly Innovation Award, aimed at encouraging young innovators from universities across the region. The path to success is often lonely, but we will be happy if we can help you on that path,“ concluded Bregu. 

This Forum, organized by the RCC in cooperation with the European Enterprise Network (EEN), is dedicated to successful innovation stories from our region. It is structured to encompass a wide range of participants, from world-renowned fast-growing enterprises to small, innovative initiatives in the early stages of development, giving them the opportunity to present their work and connect with potential investors.

In addition to the RCC Secretary General, opening addresses were also given by the Deputy Director-General for Research and Innovation at the European Commission, Signe Ratso; the Director of the European Innovation Council and Small and Medium-sized Enterprises Executive Agency (EISMEA), Jean David Malo; and the Deputy Prime Minister for Economic Affairs of North Macedonia, Fatmir Bytyqi.

Despite the enormous potential, innovation cannot thrive on its own. According to the Balkan Barometer survey, only one in five companies in the region received financial support for their innovation activities during 2020. The six Western Balkan economies invest on average less than 0.5 percent of GDP in research and development.

Moreover, businesses in the Western Balkans recorded a decrease in innovation activities, with only 16 percent of them introducing a new product in the previous twelve months. In recent years, the Western Balkans' performance in the field of innovation has improved. However, future innovation efforts should be more focused on sectors and activities that add value, specifically the sectors identified by the region's governments within the Common Regional Market (CRM) Action Plan and the Green Agenda for the Western Balkans. 

Follow the Forum live today and tomorrow at https://www.youtube.com/user/RCCSec/videos