GameDevHub – Your Checkpoint to Your First Game
GameDevHub – Your Checkpoint to Your First Game (from the keyboard of a “young veteran”) Why Podgorica? After ten years of roaming between GDC, Gamescom, and China Joy, I’ve seen all kinds of ecosystems. Yet, rarely have I felt that “spark-in-the-air” moment like the one that happened on June 5th at the Science and Technology Park of Montenegro. Over a hundred designers, programmers, and pixel enthusiasts—from high school students to seniors—filled the GameDev in Montenegro meetup organized by ICT Cortex through the CBC GAIN project (Interreg VI-A IPA 2021-2027), with support from the European Union and the Ministry of Regional Investment Development and Cooperation with NGOs. To cut the story short: European funds have enabled us to launch a completely free GameDevHub space with over 20 state-of-the-art workstations, mentorship, and a training program designed for indie teams. The Montenegrin game development scene is finally getting the playground it deserves. What exactly is GameDevHub? Imagine a group of students from university, sketching out a game they’ve been dreaming about since high school over espresso in Bokeška Street. Give them top-notch PCs, a network of mentors who freely share their knowledge on Unreal, Unity, Blender, marketing, and publishing—and you’ve got our GameDevHub. Our plan is clear: We break down barriers to zero – equipment, software, and education are free for everyone, from high schoolers to veterans. We connect the industry face-to-face – need a 3D animator or advice on how to raise your next funding round? You’ll find them at the next meet-up. We open the market – partnerships with publishers from the EU, USA, and Asia bring funding, QA, and go-to-market expertise. “Opening the center will be a milestone for our gaming ecosystem; our goal is for young people to create, network, and build careers in the fastest-growing segment of IT,” say the team at ICT Cortex. Montenegro as a Sandbox for Creators If you’ve ever heard me speak at a conference or shared a beer with me, you know how much I believe in local potential. I’ve worked with teams from fifteen countries, but nowhere have I encountered such a unique blend of creativity and stubborn, crazy persistence. Today’s global audience craves authentic, author-driven “I quit my job, divorced my wife, and sold my kids to make this game” stories. Just look at the explosion of indie titles like Balatro, Blue Prince, or the upcoming Expedition 33. Montenegro has what “AAA” has lost: freshness and the courage to take risks. GameDevHub, the MonteGames conference, and our game jams will become the launchpad for the next generation of indie stars. Open Call for Everyone Whether you’ve never written a single line of code or you already have ten published titles — if you love games, you’re welcome here. It doesn’t matter where you come from or what language you speak; what matters is that you believe Montenegro can become a hotspot for game development. See you soon at GameDevHub! For more information about the CBC GAIN project and GameDevHub activities, follow the official ICT Cortex channels. See you at the next meet-up! ✍🏻Miloš Šćepanović, Game Manager on the CBC GAIN project
Exploring the Heart of NYC’s Tech Ecosystem: ICT Cortex Study Visit Recap
Our recent study visit to New York City was an incredible deep dive into one of the world’s most dynamic tech and business ecosystems. Organized by ICT Cortex and supported by the Ministry of Education, Science and Innovation of Montenegro, we had the opportunity to connect with people that work in the ICT and business ecosystem of the US. Innovation at NewLab & Global E-Marketing & Communications Inc Our journey began at NewLab, a cutting-edge innovation hub in Brooklyn, where we met with Parker Magness and Kelsey Richmond. We explored how this space fosters collaboration between startups, researchers, and corporate innovators, gaining inspiration for similar initiatives in Montenegro. Later, at Global E-Marketing & Communications Inc., hosted by Agron Pali, we discussed global marketing strategies, digital outreach, and the evolving landscape of online business development, and potentially organizing a conference in the US where we might present our market potential. Strategic Meetings & Networking in NYC The day started with a business meeting with Mirko Radak, a rather influential and impressive figure in the digital landscape of the US, to discuss investment and expansion opportunities and gaining useful insights about the US tech and innovation market. In the evening, we had a valuable discussion with Denis Petelin, Director of Technology Solutions at EPAM Systems, learning about their approach to software development, AI solutions, and large-scale IT projects. We also took the opportunity to explore Bryant Park and Central Park, enjoying some iconic NYC sights while reflecting on the insights gained throughout the day together with Mr Petelin. A Visit to Google & YouTube One of the highlights of our study visit was an exclusive tour of Google and YouTube’s offices in Chelsea Market. This visit was made possible by our member company We Are Ai, a Google Premier Partner, and our amazing host, Miljana Čađenović. We got a firsthand look at how Google fosters innovation, from AI-driven solutions to the latest in digital advertising and content creation. The discussions provided us with valuable insights into AI strategy, digital transformation trends, and how tech giants are shaping the future of work. Economic Development & Startup Opportunities A key focus of our visit was understanding why NYC is a prime location for tech startups and businesses. At The New York City Economic Development Corporation (NYCEDC), Anne-Sophie Mahle provided an in-depth overview of business incentives, incubators, and co-working spaces available for companies looking to expand in the US market. Later, we visited Piece of Cake Moving & Storage, where a Montenegrin, Vojin Popović shared insights on running a successful logistics company in the US, emphasizing the importance of adaptability and customer experience. Exploring Global Impact at the United Nations We wrapped up our visit with an extraordinary meeting at the United Nations Headquarters, where we were hosted by Damir Šabanović. This session gave us a deeper understanding of how digital transformation is shaping global governance, sustainability, and economic development. Additionally, we visited the Consulate General of Montenegro in NYC, where General Consul Amer Cikotić and Vice Consul Maja Vasilijević facilitated discussions on strengthening business ties between Montenegro and the US and met with Ilfan Radončić, a founder of 6sense – a very successful IT company that has been present on the US market for more than 15 years. Also, it is important to note that we have had great help from the Ministry of Foreign Affairs of Montenegro in organising this visit. Key Takeaways & Next Steps Our study visit to NYC was more than just a series of meetings—it was an opportunity to map out collaboration opportunities, understand market dynamics, and gain practical insights into doing business in the US. This is just the beginning—stay tuned for more exciting collaborations between Montenegro and the tech capital of the world!
Exploring Saudi Arabia’s Innovation Landscape
Exploring Saudi Arabia’s Innovation Landscape In December 2024, a delegation from Montenegro embarked on a transformative study visit to the Kingdom of Saudi Arabia (KSA). The purpose? To explore KSA’s thriving innovation ecosystem, foster connections with key IT and entrepreneurial stakeholders, and draw inspiration for future initiatives. Saudi Arabia: Bridging Tradition and Modernity From Riyadh’s historic landmarks to its bustling hubs of technological advancement, the Kingdom presented a unique juxtaposition of rich heritage and cutting-edge innovation. The visit spanned December 6th to 12th, offering a comprehensive look into Saudi Arabia’s economic and entrepreneurial dynamism. Building Bridges with Industry Leaders The itinerary was packed with high-impact engagements. On the second day, the delegation held a pivotal meeting with the top management team of MEDCO, gaining insights into how KSA nurtures business and innovation. A highlight of the trip was the visit to the Ministry of Communication and Information Technology (MCIT). The meeting with Saudi Arabia’s Ministry of Communication and Information Technology (MCIT) was a pivotal moment of the study visit, offering deep insights into the Kingdom’s dynamic digital and entrepreneurial ecosystem. Held on December 8th, 2024, the session brought together a distinguished panel of representatives, including Eng. Mohammed Alrobayan, Deputy Minister of Technology, Eng. Mohammed AlAriefy, Assistant Deputy Minister of Technology & Digital Entrepreneurial Enterprises Enablement, and Eng. Ibrahim Neyaz, CEO of the National Technology Development Program (NTDP). Joining them were key figures such as Abdulaziz AlHammadi, CEO of The Garage, Mohammed AlShabanah, General Manager of ICT Investment Development, Afnan Ababtain, Director of Innovation and Entrepreneurship, and Gadah Almermesh, Digital Content Director. The session provided invaluable perspectives for Montenegro’s delegation, highlighting potential avenues for collaboration and inspiring strategies to strengthen its own digital ecosystem. With Saudi Arabia’s innovation-driven approach as a model, this meeting underscored the transformative impact of aligning technology with economic development. Equally significant was the meeting with the Ministry of Investment of Saudi Arabia (MISA) on December 11th, where the delegation delved into Saudi Arabia’s approach to attracting global investments in the ICT and innovation sectors. Representatives from MISA presented an overview of the Innovation and Entrepreneurship sector and detailed the Regional Headquarters (RHQ) Program, designed to position Saudi Arabia as a central hub for international business operations. They also elaborated on the “Investor Journey,” a structured process that simplifies investment into the Kingdom. These sessions offered valuable insights into how Saudi Arabia leverages technology and policy to create a business-friendly environment, paving the way for potential partnerships and knowledge transfer that could inspire Montenegro’s own efforts in fostering innovation and economic growth. Mentorship and Networking at “The Garage” One of the most enriching experiences was the all-day event at The Garage, Saudi Arabia’s innovation hub. Here, 19 startups engaged in mentorship sessions with eight leading companies. This gathering underscored the Kingdom’s commitment to fostering collaboration and facilitating the exchange of ideas in entrepreneurship and innovation. Cultural and Entrepreneurial Exploration Visits to Boulevard World and Diriyah offered glimpses into the Kingdom’s efforts to intertwine culture and tourism with the booming tech sector. A meeting with the Ministry of Tourism further elaborated on the integration of IT with Saudi Arabia’s growing tourism initiatives. Key Takeaways Saudi Arabia’s innovation ecosystem is a testament to its ambitious Vision 2030, which emphasizes diversification, technology, and entrepreneurship. The delegation left inspired by the Kingdom’s strategies to foster innovation, its robust support for startups, and its integration of tradition with forward-thinking initiatives. This study visit not only strengthened ties between Montenegro and Saudi Arabia but also provided valuable lessons for developing robust innovation ecosystems back home. As Montenegro continues to build its entrepreneurial capacity, the Kingdom of Saudi Arabia serves as a compelling example of what is possible when vision meets execution. Stay tuned as these insights fuel new projects and collaborations in Montenegro’s tech and innovation landscape!
Montenegrin Delegation’s Study Visit to Amsterdam: Exploring Innovation and Technology
In September 2024, the Montenegrin delegation embarked on a study visit to Amsterdam, Netherlands, a city renowned for its vibrant innovation landscape and technological advancements. From September 10th to 14th, the delegation participated in an intensive program of sessions, presentations, and networking opportunities that provided an in-depth understanding of Amsterdam’s thriving tech ecosystem. Amsterdam: A Hub of Innovation and Collaboration Often hailed as one of Europe’s leading tech centers, Amsterdam fosters a dynamic environment where technology, entrepreneurship, and collaboration converge. The first full day of the visit kicked off with an introduction to Amsterdam Science Park, a hub for groundbreaking research and innovative startups. We were welcomed by Danielle Pakes, Senior Community & Event Manager, who provided an insightful presentation on the park’s mission to support tech entrepreneurship. This session set the stage for the day’s focus on fintech and educational technology innovations. Startup Presentations: Fintech and EduTech Innovations As part of our tour, we attended presentations from two exciting startups. The day was filled with startup presentations from Zeta Alpha (Fintech) and Anywyse (EduTech), showcasing their cutting-edge innovations. These presentations gave the delegation a unique insight into Amsterdam’s role in driving forward cutting-edge technologies that are poised to transform industries. A tour of the park, including a visit to the Quantum Demo Lab and Lab42, followed. Exploring AI and Deep Tech Ventures In the afternoon, we met Vladimir Nedović, co-owner of Azimut Zero, and Marko Ćalasan, Director of Compliance at iLegends, both leaders in AI and deep tech ventures. They shared their expertise on how AI and deep technologies are shaping the future, particularly within the financial sector. This session was highly engaging, offering a deeper understanding of how artificial intelligence can be leveraged to develop sustainable solutions across various sectors. TECHSPO / A Gathering of Digital Innovators On the second day of our visit, the delegation participated in the DigiMarCon sessions, held at Johan Cruijff Boulevard in Amsterdam. DigiMarCon, a prestigious digital marketing conference, provided a platform for innovators, marketers, and tech leaders to discuss the latest trends and advancements in digital technologies. The sessions were followed by a networking luncheon, where we had the opportunity to engage with professionals from around the globe, exchanging ideas on the future of digital transformation. The Future of Technology: A Glimpse into Amsterdam’s Startup Scene The delegation’s exploration of Amsterdam’s tech landscape continued on September 13th with a visit to The Next Web (TNW), one of the leading media platforms for tech innovation. This session shed light on how emerging technologies such as blockchain and AI are revolutionizing the business landscape. Following the stated, the delegation attended a presentation by Stripe, a prominent fintech startup, where the discussion revolved around the latest innovations in financial technology, accompanied by a 15-minute Q&A session. Conclusion The Montenegrin delegation’s study visit to Amsterdam offered a wealth of knowledge and inspiration. From the innovations showcased at the Amsterdam Science Park to the global perspectives shared at DigiMarCon, each experience contributed to a broader understanding of how technological advancements are shaping the future. Amsterdam’s example of fostering innovation through collaboration, sustainability, and cutting-edge technology offers a valuable model for Montenegro as we continue to develop our own tech ecosystem.
Meet out member company: Glovo
Imagine being able to reach anything in your city with just a few clicks—that’s the idea Glovo started with in 2015 in Barcelona. Since then, Glovo has become a global player, present in 25 markets across Europe, Asia, and Africa. In Montenegro, Glovo has been fulfilling its mission since 2021, covering eight cities with a team of 25 professionals from various fields. Their local team collaborates daily with numerous partners and colleagues from around the world. Glovo is more than an app—it’s an innovative platform that connects users, delivery drivers, and local businesses such as restaurants, supermarkets, pharmacies, florists, and much more. Their mission is simple yet powerful: to provide everyone with easy access to anything in the city. Glovo as an Employer: First-Hand Experiences Glovo is not just an innovative tech company; it’s also a great place to work, as confirmed by their employees. Here’s what team members have said about their experience at Glovo. “What I love most about working as an Operations Manager is the opportunity to apply my knowledge and years of experience in a truly dynamic environment. I am particularly inspired by the fact that the results of my activities are easily visible, and I can see on a daily basis how I contribute to the company’s success. Additionally, it is important to me that I am in daily contact with colleagues from different countries, with whom I exchange experiences and gain new knowledge.” Ana Stojanović Chief Operations Manager “In the short time I have been at Glovo, I quickly integrated into the team. I particularly enjoy working in an innovative environment where we can test new ideas and find ways to improve the business. Additionally, as a Commercial Manager, I appreciate that besides the time I spend working with partners, I also have time for my personal development.” Edouard HARDY Menadžer komercijale Creative and Inspiring Work Environment Working at Glovo means being part of a team that constantly seeks new ways to improve business operations. Employees have the opportunity to work in an environment that supports creativity and experimenting with new ideas, contributing to personal and professional development. International collaboration and relocation opportunities As a global company, Glovo enables its employees to collaborate with colleagues from different countries on a daily basis, which is extremely important for professional growth and development. The exchange of experiences and knowledge with colleagues from various parts of the world enriches the work experience and opens new perspectives. One of the great advantages of working at Glovo is the possibility of relocation and changing countries. Our employees have the opportunity to move to other countries, take on greater responsibilities, and expand their professional horizons. This not only provides exciting new challenges but also allows employees to gain international experience and grow within the company. Contribution to the Community In addition to their regular duties, Glovo employees like to invest extra time and effort in activities that contribute to the community. Through initiatives like Glovo Cares, where they take on the role of couriers and provide help to those in need, they collaborate with organizations, foundations, and associations from various fields on social actions, green projects, and other initiatives that have a positive impact. These activities not only contribute to a better society but also enable their employees to feel connected to the local community. Working on such projects strengthens team spirit and creates a sense of shared accomplishment. Glovo fosters a culture of fun, evident through their Office life and frequent parties and gatherings. They take particular pride in celebrating Culture Day twice a year. These events are more than just celebrations—they are crucial for building strong relationships among employees, promoting team cohesion, and creating a work environment where everyone feels welcome and valued. Such a culture of fun and unity contributes to better moods, increases productivity and job satisfaction, and helps reduce stress while improving the overall quality of life for their employees. Engaging in communal activities and informal gatherings allows employees to get to know each other better, exchange ideas, and form lasting bonds, which is crucial for building a successful company.
Montenegrin Delegation’s Inspiring Study Visit to Stockholm
The Montenegrin delegation recently embarked on a study visit to Stockholm, Sweden. This vibrant city is renowned for its cutting-edge innovation and thriving tech ecosystem. Our journey was packed with insightful experiences, from exploring Stockholm’s technology-driven landscape to participating in the Future Talent Summit and visiting key innovation hubs like the Epicenter and ZWEBB Fintech. Stockholm: A Hub of Innovation and Technology Stockholm is often dubbed the Silicon Valley of Europe, thanks to its dynamic tech ecosystem that fosters innovation and entrepreneurship. The city’s commitment to technological advancement is evident in its numerous tech startups, incubators, and accelerators that dot the landscape. One of the most striking features of Stockholm’s tech scene is its collaborative environment. The city boasts a plethora of coworking spaces and innovation hubs where startups and established companies work side by side, sharing knowledge and resources. This spirit of collaboration is a significant driver of Stockholm’s success as a global tech hub. Moreover, Stockholm’s emphasis on sustainability and smart city initiatives sets it apart. The city is home to numerous projects focused on green technology and sustainable urban development. From electric public transportation to eco-friendly building practices, Stockholm is a model for integrating technology with sustainability. Future Talent Summit: Shaping the Leaders of Tomorrow A significant highlight of our visit was the two-day participation in the Future Talent Summit 2024. Held at a prestigious venue in Stockholm, the summit brought together thought leaders, educators, policymakers, and business executives from around the world. The event focused on the future of talent and the evolving landscape of work and education. During the summit, we attended various sessions and workshops that explored themes such as digital transformation in education, the future of work, and strategies for developing future-ready skills. Keynote speakers included industry experts and visionary leaders who shared their insights on how to navigate the rapidly changing job market. One of the most impactful sessions was on the integration of AI and machine learning in education. Speakers highlighted how these technologies can personalize learning experiences, making education more effective and accessible. We also learned about innovative talent development programs that companies and educational institutions are implementing to bridge the skills gap. The networking opportunities at the summit were invaluable. We connected with peers from different parts of the world, exchanging ideas and best practices. These interactions provided us with a broader perspective on global trends and challenges in talent development. Exploring the Epicenter: Where Innovation Meets Community Following the summit, we visited the Epicenter, Stockholm’s foremost innovation hub. The Epicenter is more than just a coworking space; it is a community of innovators, entrepreneurs, and tech enthusiasts. Located in the heart of the city, the Epicenter offers a vibrant environment designed to foster creativity and collaboration. The Epicenter is equipped with state-of-the-art facilities, including high-tech labs, event spaces, and meeting rooms. During our visit, we had the opportunity to tour the premises and interact with some of the resident startups. It was inspiring to see the diverse range of projects being developed, from cutting-edge AI applications to sustainable tech solutions. What sets the Epicenter apart is its emphasis on learning and growth. The hub regularly hosts workshops, seminars, and hackathons, providing members with continuous learning opportunities. This focus on education and skill development aligns perfectly with the themes discussed at the Future Talent Summit. Visiting ZWEBB Fintech: Pioneering Financial Technology Our study visit also included a stop at ZWEBB Fintech, a leading player in the financial technology sector. ZWEBB is known for its innovative solutions that cater to the evolving needs of the financial industry. During our visit, we received a comprehensive overview of their latest projects and technologies. ZWEBB’s approach to fintech is characterized by a strong emphasis on user experience and security. Their solutions are designed to be intuitive and accessible while ensuring the highest standards of data protection. We learned about their work in developing blockchain-based applications and AI-driven financial analytics, which are poised to revolutionize the industry. The visit to ZWEBB was particularly enlightening as it provided us with insights into the future of finance. We discussed the potential of fintech to enhance financial inclusion and create more efficient financial systems. The knowledge gained from this visit will undoubtedly inform our strategies back in Montenegro as we look to foster innovation in our own financial sector. Conclusion The Montenegrin delegation’s study visit to Stockholm was a remarkable journey into the heart of innovation and technology. From the stimulating sessions at the Future Talent Summit to the inspiring environments at the Epicenter and ZWEBB Fintech, every experience enriched our understanding of how to cultivate a thriving tech ecosystem. Stockholm’s example of integrating sustainability with innovation serves as a valuable model as we strive to advance Montenegro’s position in the global tech landscape. Our member companies that participated in this study visit were: Čikom, Payten, Pos4me and We Are AI.
Seven days in Germany on the path of innovation
Germany, a country renowned for its technological brilliance and environmental consciousness, was the perfect destination for our study visit. From April 17 to 23, 2024, a small delegation from Montenegro embarked on a journey through the world of innovation, sustainability, and high-tech achievements. Each day brought new discoveries, inspiration, and the opportunity to establish valuable contacts. Here is the story of our journey, which was far more than just business—it was an exploration of the future. First Steps in Berlin Our arrival in Berlin was filled with excitement and anticipation. The first destination was the Adlershof Technology Park, something like a scientific Disneyland built on the site of a demolished aircraft factory from World War II. Frank, our guide, took us through corridors filled with high-tech equipment and laboratories, bringing each corner to life with historical and success stories of companies that originated there. Although Adlershof has always been a place of innovation, being there made me reflect on how genius and technology, if not in the service of humane ideas, can become the cause of much human suffering. At the same time, it occurred to me how many unused spaces in Podgorica could, with small investments, be transformed into creative centers that would awaken the research and entrepreneurial spirit in our community. From then until the end of my stay in Germany, I often sighed, struck by the thought that we lacked exactly such a space when my brother and I tried to make a “small helicopter” while we were still in elementary school. After Adlershof, we stepped into the world of cybersecurity with a visit to DCSO. Christin Wilkenman guided us through their offices, showing us the relaxation and game areas for team building. When she mentioned the annual subscription fee of 4000 euros for community membership, we realized how seriously Germany takes the protection of digital resources. We ended the day at the EUREF Campus, a green epicenter for sustainable energy technologies. Ursula Hermann led us through this “city within a city,” where technology and sustainability merge in an inspiring way. Seeing the solar panels, wind turbines, and wastewater recycling systems, we left the campus filled with ideas and enthusiasm. The Berlin whirlwind of innovation The second day began at the Embassy of Montenegro in Berlin. It was nice to feel at home as we discussed collaboration opportunities and market trends in Germany. As we were told, despite being in a recession and facing a massive influx of migrants, Germany has liberalized the conditions for acquiring citizenship and increased the quota for admitting foreigners, especially those with STEM skills. Now, instead of 10 years, it takes 7 years of residence to acquire citizenship, and this year alone, they will admit up to 50,000 people from our region. The main reasons for this decision, as Zdravko Jovović and Dijana Ralević, who were our hosts and support in organizing this study visit, told us, are the aging population and the shortage of labor. After the embassy, our journey took us to Hubraum and T-Labs, the research center of the Deutsche Telekom Group. Their story about investing in startups that use WiFi sensors was fascinating. In the future, telco operators will be able to identify the number of people in a room, the presence of animals, heartbeats, pulses, and much more through routers emitting WiFi signals. For instance, if you happen to choke on popcorn while watching a movie and lose consciousness, your router will send an alert to emergency services, signaling them to activate sirens and come to your aid. Similarly, if an elderly person is alone at home, the router can identify their fall anywhere in the space and send a notification to their caregiver. Of course, this technology raises numerous privacy concerns, such as where the reach of WiFi signals ends—what if a neighbor’s router can identify changes and movements in my apartment? In the face of such questions, even GDPR, the privacy guardian within the EU, remains silent. Hubraum is currently seeking creative ideas for the application of WiFi sensing technology, and anyone with an idea can present it to their team. If they like it, they will provide financial support, engineering expertise, and their infrastructure for testing the idea. At Urban Impact Agency, we were welcomed by Sophie Persieghl, who shared their story about projects that transform urban environments. Their platform, which maps and dissects the entire innovative ecosystem, showed us how dedicated they are to changing the world for the better. The “Sustainability Challenge” project combined innovation and sustainability in a way that inspired us all. The evening meeting with BVIZ was a true discovery. Dr. Christina Quensel and Denny Droßmann shared with us their vision for supporting technology centers across Germany. Their energy and passion for innovation left a strong impression on us. New contacts and adventures The third day brought a series of meetings with potential partners. At GTAI, we discussed the possibilities of establishing companies in the German market. Isabel da Silva Matos and Anja Quiring talked about the support available to foreign companies and the challenges of bureaucracy. Sarah Gholiha from the Startup Hub Initiative Germany showed us how easy it is to get support if you produce something rather than just offering services. Representatives from the ICT cluster Berlin Partner were also present, with whom we discussed sustainability models for clusters. The visit to Ahoy coworking space shattered our perception that everyone in Germany is as punctual as a “Swiss watch.” With many delays and on-the-spot changes to the initial agreement, we proceeded with the planned meeting with Michael Gannon from Stun and Awe, a consultant for international business development with decades of experience. His vast experience and advice gave us insight into the challenges and advantages of starting a business in Germany. Relaxation and preparation for Hannover The fourth day was dedicated to exploring Berlin. Walking through the city, tasting local specialties, and preparing for the journey to Hannover were our ways of gathering
Innovation, flexibility, trust – Tungsten Automation
Tungsten Automation is an international software product company specializing in innovative solutions for digital transformation and business process automation. Their platform leverages advanced technology to streamline complex workflows, reduce manual labor, and eliminate errors. These intelligent solutions help organizations lower costs, increase efficiency, and enhance user experience, enabling them to focus on the core aspects of their business. Tungsten Automation uses a combination of Robotic Process Automation (RPA), cognitive analytics, mobile technologies, and engagement to facilitate automation implementation and achieve exceptional results. Their solutions allow clients to reduce compliance risks, increase competitiveness, and achieve growth and profitability. Tungsten Automation delivers a quick return on investment to more than 25,000 clients across various industries, including financial services, insurance, government, healthcare, supply chains, business outsourcing, and more. Their software solutions and services are available through direct sales, service offerings, and a network of over 650 partners and integrators in more than 60 countries across the Americas, the EMEA region, and the Asia-Pacific region. Transforming the digital landscape – a key strategic goal Their innovative solutions empower companies worldwide. Through advanced technology and dedication, they aim to be the driving force behind their clients’ success. Their mission is to harness the power of technology to solve complex problems, optimize processes, and unlock new opportunities for growth. With a focus on customer satisfaction and constant innovation, they are committed to shaping the future of the IT industry and enabling their partners to succeed in the digital age. Digital transformation, automation, and education are the shared goals of Tungsten and Cortex Tungsten Automation sees itself as a key partner in the development and expansion of the ICT Cortex cluster, bringing its extensive experience and expertise in digital transformation and automation. As a member of the ICT Cortex cluster, Tungsten Automation not only contributes to the community with advanced technology and innovative solutions but also actively engages in the cluster’s educational initiatives. This includes organizing workshops and training sessions in the fields of quality assurance and programming, with the goal of fostering skill development and knowledge sharing among enthusiasts and professionals. This membership offers numerous opportunities for collaboration and idea exchange, allowing Tungsten Automation to contribute to talent and competency development within the cluster. Through its activities, the company helps build a strong ICT community in Montenegro and supports continuous growth and innovation in the region. As part of the ICT Cortex cluster, Tungsten Automation becomes part of a dynamic ecosystem that fosters creativity, collaboration, and professional development, while also contributing to the broader goal of strengthening the local IT industry. If you want to learn more about the range of products and services provided by Tungsten Automation, explore their diverse client base, successful case studies, and gain insight into their market position, visit their website. https://www.tungstenautomation.com/
Meet our member company: Coinis
Coinis – innovative Montenegrin ad-tech company For those well-versed in Montenegrin IT and marketing sectors, the company Coinis is undoubtedly a familiar name. However, for those not overly acquainted with these fields, we will strive to bring them closer to the activities and the very functioning of a company that has undeniably left its mark over the past decade, significantly elevating the business landscape in Montenegro. Efficient and Targeted Advertising One of the main activities of this company is undoubtedly affiliate marketing. For those to whom the mentioned term is not overly familiar, it should be emphasized that it is an advertising model in which publishers (owners of digital products such as websites, applications, or extensions) promote products or services of advertisers through various digital channels, including websites, blogs, applications, and social networks. Coinis focuses on the development and implementation of solutions that help publishers generate revenue by placing ads on their digital products, while simultaneously providing advertisers with the opportunity to achieve their marketing and sales goals. This business model is highly significant as it enables partners to achieve a positive return on investment (ROI) through more efficient and focused advertising. A Career in Affiliate Marketing Their recommendation to all young and interested individuals is to educate themselves in affiliate marketing, as it is one of the fields that is constantly evolving and provides significant career opportunities. At Coinis, they firmly believe that continuous improvement and acquiring new knowledge are crucial for success in modern professions. As a company, they are dedicated to creating opportunities for young professionals to develop their skills and gain experience in the mentioned field. On their website, you can find reading materials and resources for exploration, which you should not miss if you are interested in the mentioned area. In addition to the above, they add that there are numerous forums and websites of various kinds where everyone can find useful information and access various resources, enabling them to continue their research in the areas they are most interested in and where they find themselves. There is a wealth of video material available both for free and in the form of online courses. In translation, you have no excuse – start learning immediately! What Coinis particularly emphasizes is the use of tools based on artificial intelligence (AI). The use of AI tools in business can help optimize processes, improve the quality of products or services, reduce costs, and increase efficiency. Therefore, they advise all those interested in affiliate marketing to explore AI tools to quickly and efficiently seize their first business opportunities. Innovative Leaders on the Global Ad Tech Scene Coinis has successfully expanded its operations to international markets, including the United States, the United Kingdom, Israel, Germany, France, Spain, Italy, Poland, Brazil, and many other countries worldwide. This truly impressive success is attributed to their highly innovative approach to digital marketing, advanced campaign tracking platform, product and overall services, as well as efficient and high-quality customer support. Establishing new companies in other countries was not a foreign concept for Coinis, and the company remarkably executed the opening of its offices in Dubai and New York. According to their statements, founding companies in other countries requires adapting to local laws and regulations, studying local market conditions and needs. Through successful examples, they have proven that Coinis is capable of tackling these challenges and making progress in highly dynamic international markets. Continuous Improvements as the Path to Success Since its establishment, Coinis has significantly progressed in its business operations. The company has elevated its activities to an international level, and the number of employees has grown from a few creative individuals to an impressive team actively contributing to the company’s success. In addition, Coinis has continued to develop new and innovative products and services to remain a leader in the field of affiliate marketing. Their capacities have expanded through the development of new products and the enhancement of business processes. In addition to being dedicated to regularly improving in-house technologies, they utilize all available resources to enhance the products they offer to their clients. Recently, they announced an innovation within their advertising platform, incorporating the now well-known ChatGPT technology. This implementation aims to provide advertisers with an easier way to generate creatives and launch their campaigns in a significantly faster and more effective manner. As emphasized by the company, they anticipate more exciting developments in their product lineup soon. Consequently, the need for new talent and support is growing, and they are currently in the process of hiring more enthusiastic and creative professionals ready to progress alongside the company. Employee Well-being Takes Precedence At Coinis, high standards of corporate culture are highly valued. As a company, they strive to create a dynamic and inclusive work environment where the diversities and opinions of each employee are respected. Additionally, Coinis is committed to the development and improvement of its employees, consistently investing in training and skill enhancement. The workforce they predominantly hire consists of professionals in the fields of information technology, marketing, and sales. Moreover, as they like to say, “If we notice someone eager for knowledge and willing to invest time and effort, even without experience in similar roles, we gladly invest in such individuals, and so far, this practice has proven very successful.” As stated by the company, their goal is to make employees aware that they are willing to invest in new knowledge and skills. It is also crucial for them to maintain a harmonious and positive work environment. A team of dedicated, educated, and diligent individuals working together towards achieving goals is key to attaining excellent business results. At Coinis, a strong emphasis is placed on the well-being of employees, and therefore, they offer a range of benefits to demonstrate how much they care about their collaborators and how much they truly value their commitment. Contribution to the Community as One of the Priorities As a company, Coinis takes pride in its contribution to the community and everything it has done for
Five Reasons Why You Should Attend AI Tech Summit
The world is at a turning point where artificial intelligence (AI) and technology lay the foundation for the next industrial revolution. From healthcare and finance to manufacturing and retail, AI and technological innovations are transforming existing industrial landscapes and driving waves of innovation that were previously unimaginable. In light of these dynamic changes, the AI Tech Summit has become an indispensable event for every professional seeking to explore the latest solutions in the field of artificial intelligence, regardless of their industry. This event not only provides an opportunity to learn about the latest technological advancements but also offers a platform to hear from inspirational leaders in the industry who will share their experiences and visions with you. Below, we present five key reasons why you shouldn’t miss the AI Tech Summit taking place this September in Skopje. 1. Focus on Ethical Issues and Governance As the concept of artificial intelligence has become a part of our daily lives, there is growing concern about ethical issues and governance in the public sphere. Many believe that this phenomenon will entirely reshape the world as we know it, becoming an indispensable part of our functioning. Consequently, some of the unavoidable questions that each of us asks relate to ethical standards in AI governance: “Will this compromise my privacy? How secure are my data? Can artificial intelligence pose a threat to our existence?” At the AI Tech Summit, you will gain deeper insights into the importance of ethical principles and proper governance in the field of artificial intelligence. It will explore how AI technology can be used while adhering to ethical norms, how we can ensure that its benefits are harnessed for the betterment of society and individuals, and what the greatest ethical challenges in AI technology are. If you want answers to these questions and many others, the AI Tech Summit is the right place for you. 2. Revolution in the Financial Industry The financial industry is one of the sectors that has undergone significant transformations thanks to the rapid advancement of artificial intelligence. At the AI Tech Summit, you will have a unique opportunity to explore how this sector is being transformed through innovations and technological advancements brought about by artificial intelligence. One of the most striking ways AI influences the financial industry is by improving decision-making processes. AI-based systems analyze vast amounts of data and identify patterns that would be hard to discern with the human eye. At the AI Tech Summit, you will learn how these systems contribute to faster and more precise decision-making, enhancing the overall operations of financial organizations. Leaders from the AI industry will share their insights and experiences at the summit, providing concrete examples of how artificial intelligence is shaping the future of this sector. Through real-world examples, attendees will gain insights into the revolutionary ways in which artificial intelligence is integrated into the daily operations of financial institutions and systems. 3. Business Optimization Through Data One of the key advantages of artificial intelligence is its capacity to learn from data. At the summit, you will discover how AI technology employs deep learning processes for continuous improvement. In today’s digital age, organizations generate vast amounts of data every day. At the AI Tech Summit, you will learn how this data can be leveraged as a valuable resource for developing innovative strategies and business models. Artificial intelligence enables you to deeply analyze this data, uncover hidden patterns and regularities, and make better-informed decisions based on that analysis. 4. Generative Artificial Intelligence: Innovating Engineering and Manufacturing Design In the fields of engineering and manufacturing, we are constantly searching for new ways to enhance efficiency, optimize processes, and develop innovative products. At the AI Tech Summit, doors are opened to the world of generative artificial intelligence, an aspect of AI technology that brings revolutionary changes to these areas. Through practical examples, you will discover how organizations use generative artificial intelligence to create groundbreaking products and solutions. From machine parts to architectural concepts, generative AI opens new horizons for innovation, enabling faster and more efficient development of new ideas. 5. Co-evolution of Artificial Intelligence and Humans: Partnering for Human Advancement In a world of ubiquitous technology and rapid technological progress, the relationship between artificial intelligence and the human race has become increasingly relevant. At the AI Tech Summit, you will have the opportunity to learn how artificial intelligence can co-evolve with humans to achieve greater progress and improvements in various aspects of society. As technology, including artificial intelligence, becomes increasingly sophisticated, questions arise about how best to harness its power in line with human values and needs. At the AI Tech Summit, you will discover how human creativity and imagination can be combined with the technical capabilities of artificial intelligence. Through this co-evolution, a new paradigm is created where technology supports human efforts in innovation and solving complex problems. Note: Less than 50 tickets remain on sale The AI Tech Summit will take place in North Macedonia, in Skopje, from September 29 to 30, 2023, organized by TBM Group, a leading European company specializing in organizing world-renowned conferences. We are pleased to be a partner of this event as ICT Cortex, providing our members with special discounts for membership and sponsorship packages. By attending the AI Tech Summit, you will have the opportunity to connect with leading experts in the field of artificial intelligence, including professionals from companies such as Microsoft, Google, Tesla, Boston Consulting, and many others. You will learn about the latest trends and applications of technology and contribute to shaping the future with an ethical and responsible approach to AI technology. If you are interested in this event, you can find more information and tickets on the website www.techsummit.ai. Author: Stefan Blecic
Meet Our Member: DigitalBee
As a cluster currently comprising 45 member companies, we continuously work on introducing our community to our members and the latest developments. From now on, you can expect the introduction of one of our members every week, accompanied by the projects they are currently working on. To kick things off, we’d like to introduce you to DigitalBee. DigitalBee was founded in 2019 with a clear mission – to develop competencies crucial for success in the digital age. What’s it all about? Digital skills, emotional intelligence, and creativity – these are the core components that DigitalBee nurtures through its unique proprietary program called “Beyond Coding.” However, this is not just another program; it’s a journey that inspires and shapes children and teenagers, providing them with tools and confidence to face the new challenges of the digital era. Shortly after its inception, DigitalBee was recognized as the premier place for developing the competencies needed for children’s success in the digital age. In 2021, this company became a licensed educational institution, injecting a breath of fresh air into Montenegro’s education system with its creative approach. Offering two adult education programs, “Database Basics” and “Digital Marketing“, DigitalBee is not merely following the trends of digital transformation but is becoming a key driver of those trends. In the following text, we will delve deeper into the journey that DigitalBee has undertaken and discover how they have contributed to the development of education in Montenegro. Transforming Children and Adults into Digital Creators Our interviewees and founders of DigitalBee, Valentina Radulović and Jasna Pejović, proudly state that what sets their company apart is a comprehensive approach to children’s education, which, in their words, is unique in the region: “Our ‘Beyond Coding’ programs are designed so that learning programming takes center stage, while carefully designed additional content exercises emotional intelligence and creative thinking competencies. These courses transform participants into creators in the digital world.” These educational programs are intended for children aged five to sixteen. According to our interviewees, the youngest participants enter the world of programming by developing algorithmic thinking without screens, using age-appropriate robots. On the other hand, older participants learn programming using languages like Scratch, Python, JavaScript, and App Inventor. What makes this program unique is that very serious skills are learned exclusively through play, making classes both interesting and useful experiences for children. Furthermore, DigitalBee offers courses for adults with the aim of improving their skills and acquiring new ones to help them find their career path in the new digital age: “Database Basics’ and ‘Digital Marketing’ programs are designed for adults who want to master competencies that will help them in their jobs, find additional or new engagements, or start and manage their businesses.” Out of over a thousand participants, successful students and innovators have emerged Regarding DigitalBee’s achievements, Jasna and Valentina attribute their greatest successes to the achievements of their participants: “So far, over 1000 children have gone through our ‘Beyond Coding’ programs. Most of them are now successful students and high school students, with a significant number of our participants winning awards in programming and robotics competitions. Many of our participants have told us that the competencies and skills they have acquired in our programs have helped them resolve conflicts with peers or better present their ideas. In our classrooms, friendships are formed that last beyond classes, which in itself represents a special kind of success. All of these are achievements that bring us joy and motivation to approach each new generation with the same dedication and introduce new programs and content. Knowledge empowers us and gives us freedom, and we are here to help our participants acquire important and current competencies.” Furthermore, they added that they are proud of the fact that participants in the adult programs use the acquired skills in their work environments, develop their businesses, or create additional sources of income using the knowledge they have gained. Become a Change Maker: Applications Are Open If you plan to join DigitalBee’s education programs and become part of a community that actively shapes the future in the digital world, now is the right time to apply for one of the open programs. For those interested in adult programs, note that they are held several times a year, allowing you to join when it suits you best. On the other hand, programs designed for children, known as “Beyond Coding,” start at the beginning of the school year – in September and February. This is an opportunity for the youngest to start their journey into the digital world in the right way and master digital technologies instead of the other way around. For all information about educational programs, we recommend visiting their website, where your first step towards the future in the digital world awaits you. Become a part of one of DigitalBee’s education programs and be ready to become a change-maker! Apply now. Author: Stefan Blecic
Cortex analyzes the ICT industry, achieves record numbers
Based on the ICT analysis and research conducted by CEED Consulting, we can conclude that the ICT sector is one of the fastest-growing, at least in the context of Montenegro. This is evident from the rapid increase in the number of companies involved in this activity, their impressive financial revenues, and the growing interest of people in our community in this field. ICT Cortex, a cluster with a primary focus on education, internationalization, and digital transformation, has analyzed the business performance of the Montenegrin ICT sector. The criteria for ranking success were total revenues, net results, the number of employees, and the number of companies. An important contribution to the analysis was made by the research conducted by the consulting company CEED Consulting. Additionally, BI Consulting, with its portal BInfo.me, was a significant source of data on specific industry codes. ICT Sector in Montenegro This analysis covered 1,049 companies that were part of the Montenegrin ICT sector in 2022 alone. However, to make the analysis comprehensive, the period from 2019 to 2022 was considered, tracking the trends of growth or decline in the three specific groupings of the ICT sector: IT services and products, telecommunications, and trade of IT equipment. Regarding the revenues generated in the ICT field during the previous year, the figures were more than impressive. The total revenue for the ICT sector in 2022 amounted to as much as 602 million euros, which is 23 percent higher than in 2021. The majority of the revenue comes from the telecommunications sector, followed by IT services and products, and trade of IT equipment. Net earnings have also significantly increased over the past four years, with a growth rate of 102 percent compared to 2019. Some of the companies that particularly stood out in terms of revenue in the previous period and made significant contributions to the revenue growth in the Montenegrin ICT sector are M-tel, Crnogorski Telekom, One, Kodio, Comtrade, and Coinis. Below, you can see the individual contributions of each of the mentioned areas to the information and communication technology sector. IT Services and Products Regarding the IT sector, we analyzed 725 companies actively operating in the local and international markets. The largest number of these companies are engaged in computer programming and consulting activities in the field of information technology, while specialized areas such as computer game development and software publishing are represented in a smaller number. It is worth noting that this field has seen a significant increase in the number of companies, with a growth rate of 46 percent compared to 2021 and a remarkable 109 percent compared to 2019. Companies in the IT services and products sector have made the most progress in the past four years when considering parameters such as total revenue, net results, and the number of employees. Total revenues increased by 45 percent compared to 2021, net results increased by 87 percent, and compared to 2019, the same parameter increased by an impressive 450 percent. The number of employees adequately follows the revenue growth, as indicated by the fact that over 3,400 workers have been employed in the IT products and services sector, which is 61 percent more than the previous year and a remarkable 161 percent increase compared to four years ago. When looking at the specific specialization, the largest number of companies are engaged in computer programming and IT consulting activities. Some of the companies that achieved the best results are Epam Systems Montenegro, Domen, Data Design, Čikom, and Logate. Telecommunications In the field of telecommunications, we analyzed 66 companies operating in our market. Over 60 percent of them are registered under the activity code “other telecommunications activities,” while a smaller number are involved in satellite and wireless communications, as well as cable telecommunications. Here, we have a slightly different picture compared to the IT sector. The growth rate of the number of companies over the past four years is only 1.5 percent, indicating that the telecommunications sector is relatively stable, with few changes in the number of firms in the previous period, averaging 64. Companies in the telecommunications sector have traditionally continued to generate impressive revenues. However, these revenues do not show significant fluctuations like those observed in the IT sector. The total revenue of Montenegrin companies engaged in telecommunications activities amounted to 266 million euros, which is nearly six percent higher than in 2019. Net results also did not experience significant growth, with an increase of less than 2 percent compared to 2021 and a decrease of nearly 17 percent compared to four years ago, indicating that the overall profit in this sector was significantly higher in 2019 than it is today. The three traditional telecommunications providers operating in our market, namely M-tel, Crnogorski Telekom, and ONE, achieved the best results in this field. Significant results were also achieved by companies such as Telemach, Ericsson AB, the Agency for Electronic Communications and Postal Services, and Network Communication. The total number of employees in this sector is 1,973, with as much as 65 percent of them employed in the three leading companies in the telecommunications sector (M-tel, Crnogorski Telekom, and ONE). This number is nearly 14 percent higher than in 2019. Trade of Computer Equipment Regarding the sector related to the trade of computer equipment, it should be highlighted that the total revenue in 2022 amounted to nearly 121 million euros, which is 33 percent higher than the previous year. Compared to 2019, this represents a 54 percent increase, while net profit for the same period has increased by 107 percent, reaching almost 6 million euros. The majority of companies in this field are primarily engaged in the wholesale trade of computers, computer equipment, and software, while a smaller number focus on the retail trade of telecommunications equipment, audio, and video equipment, as well as the wholesale trade of electronic and telecommunications parts. The number of employees in this sector increased by 16 percent in the previous year, reaching 664, which is a significant advancement, especially
Montenegrin AI Association – MAIA: From Data Science to Practical Applications
Applications Our goal is to raise people’s awareness about artificial intelligence, and we are delighted to have seen a large number of AI enthusiasts at our MeetUps who want to learn, educate themselves, and advance in this field, or to inform themselves about ways in which they can improve their businesses. One of the most significant topics of today that is slowly but surely becoming an essential part of our lives is artificial intelligence. We spoke with representatives of the Montenegrin AI Association – MAIA, now an honorary member of the ICT cluster Cortex, Itana, and Nikola Bulatović, whose organization aims to research, promote, and implement artificial intelligence in everyday life. Artificial intelligence represents an inexhaustible source of possibilities for improving our world, and MAIA focuses on finding ways in which this technology can enhance people’s lives in our community. The members of this organization have established themselves as leaders in the field of artificial intelligence, and their innovative approach enables the creation of a new paradigm in this area. Learn about how MAIA was created, what their views on artificial intelligence are, what challenges they face, what impact artificial intelligence will have on our daily functioning and many other useful pieces of information related to this topic in the following text. From a spontaneous idea to concrete action When asked how they came up with the idea to establish an organization whose focus is on researching and implementing artificial intelligence, Nikola emphasizes that the initiative came about in a fairly spontaneous way: “Given that we are engaged in similar research topics, we came up with the idea of uniting the AI (artificial intelligence) community in Montenegro. Our acquaintances with colleagues who are very successful in artificial intelligence research contributed to this, and we decided to start by gathering a small number of people and founding an NGO whose topic would be the development of this field.“ According to our interlocutors, at the very beginning, they focused on building the AI community. Their Slack group gathered a significant number of members in a very short period, who engaged in artificial intelligence, which also contributed to the inclusion of people from different spheres who began to give numerous ideas and suggestions, which was essentially the goal: to unify the AI community under one roof. Artificial intelligence development: “a kind of magic” that has existed for over 40 years As for the concept of artificial intelligence itself, our interlocutors state that it does not represent “some kind of magic“, but that there are scientific research and methods that can be used to prove whether a particular AI system has provided a solution to a specific question. Artificial intelligence as a science has been developing for decades and is by no means a new field. According to them, the revolutionary advancement of AI is thanks to the long-term accelerated progress of electronic computer chips and computer hardware, as well as working environments with which we can easily experiment with algorithms for processing large amounts of data: “The current breakthrough of artificial intelligence has been built up over the past fifty years. The neural networks we use today were created in the 1990s, but could not be applied in practical applications because we did not have computers on which we could run an artificial intelligence system designed for widespread use. Due to the development of computer technology and the expansion of the large amount of data we generate on a daily basis, it was not until 2010 and later that conditions were created for artificial intelligence to become applicable. Only then do we have the opportunity to program artificial intelligence algorithms without having to use supercomputers. Thanks to all of the above, we now have tools that can process large amounts of information much faster, more efficiently, and meaningfully than we could before. Instead of processing a huge amount of data that someone had to analyze manually or using a computer, we can now replace the entire process with an AI algorithm that will analyze the data and extract useful information from it without the need for human intervention“, said Nikola. The concept of AI is not so complicated, as Itana explains, emphasizing that the entire concept of artificial intelligence can be defined simply as the science of data: “People who are typically engaged in this activity will simply say “data science“, which means the science of data, machine learning, or some other form of learning. The fact is that the mention of artificial intelligence opens up a variety of different debates. We can view this phenomenon as an umbrella, under which fall machine learning, deep learning, reinforcement learning, recommendation systems, and all other areas that can contribute with their data.” Focus on education and application of artificial intelligence In addition to wanting to gather people with similar interests and contribute to the development of the aforementioned phenomenon, Itana and Nikola particularly emphasize that in the near future, they will focus on organizing educational programs, MeetUps, and conferences that will be accessible and, as they believe, beneficial to the wider community. Additionally, one of the focuses of their future activities will also be on scientific research with specific projects as their topic: “None of us is an expert who knows everything absolutely, but we are here to learn from each other, which was ultimately one of our main goals. Of course, new focuses are added for the next period, such as expanding our community, organizing events of various types, research, and so on. Also, one of our priorities, which we cannot currently realize, but hope to achieve in a few years, is scientific research on concrete projects, where our engineers and scientists can work on practical applications. Primarily, we would like it to be in Montenegro, meaning that we would like to implement some of the AI solutions that would improve life in our community. Precisely because most of us come from the world of science, we would like to apply the knowledge
The first ICT Cortex Football Tournament
In Podgorica, on February 25th, the first ICT Cortex Football Tournament was held in collaboration with the IT company First Line Software. The main goal of the tournament, in which five teams participated – Coinis, Studio Bild, Data Design, Telemont, and First Line Software – was to promote healthy lifestyles and connect the IT community more informally. The teams gathered around 40 players, and the tournament format involved playing one match against each other group to determine the winner based on performance. To respect the rules and provide professional refereeing, a pair of official Football Association of Montenegro referees were engaged on the field. After several relatively evenly matched matches, the best teams stood out. The first ICT Cortex football tournament winner was the Bild Studio team, with Telemont and Coinis taking second and third place, respectively. While member companies were engaged in a tense battle on the field, support was present from colleagues from competing and organizing companies and our youngest members at this tournament. Some segments that can characterize the recently held tournament are the more positive energy that characterized the teams themselves, a lot of laughter, and a profound competitive spirit that set new standards when organizing the next Cortex Football Tournament. For those who ran out of energy, Red Bull supported this event. This tournament is the first of its kind when it comes to ICT Cortex, and we would like to thank First Line Software and the “Čini dobro” Foundation for supporting the competition and contributing to its complete realization. This is just the first in a series of gatherings that we plan to organize, and we invite you to follow us on social media, where we will regularly inform you about our future activities.
What is KYC and why it is the main topic
of the CBCG Fintech Hackathon
The term KYC (Know Your Customer) denotes a series of procedures that the bank usesto confirm the identity of the client. You probably once had the opportunity to go through a KYC check when opening an account on the site, whether it was done via video or photo verification. KYC verification is regulated by law and is a prerequisite for using the services of financial institutions. Why is KYC verification important? KYC check protects both the bank and the client. Namely, the client opens an account in his own name and submits data proving his identity. In the absence of this check, any other person could use someone else’s data, thereby jeopardizing the clients security. On the other hand, the bank is obliged to carry out checks in order to protect itself and the entire financial system. The bank checks the client’s documentation and identity before opening an account and allowing transactions. In certain cases, the bank may ask for additional documentation during individual transactions. In these situations, KYC verification is carried out as a bank policy directed against money laundering and similar suspicious activities. KYC verification can be done at branches in person or through online verification services that are integrated into the client’s on-boarding process. Application of the KYC process KYC verification is a prerequisite for the use of numerous services, some of the most important of which are: ● Opening bank accounts ● Transaction confirmations ● Credit management ● Government eServices ● Insurance services ● Signing documents The first two examples are particularly important for banks as financial institutions whose operations are strictly regulated by law. Case study: CX360 KYC/AML Task Manager The KYC procedure is initiated by the Core Banking System or some other software on the bank’s IT infrastructure. The information provided by these systems is often at a basic level and there is no way to track the employee in performing the KYC task. In order to solve the problem of delayed or incomplete checks of the client’s documentation, the software company Logate has developed a special solution within its CX360 banking CRM – KYC/AML Task Manager. KYC/AML Task Manager creates tasks based on previously obtained data from the Core Banking System or some other bank software and assigns them to employees in the Compliance sector. The bank chooses whether the Task Manager will assign the task to one employee or to a group of employees. When performing the task, there may be a delay because the client renews personal documentation or is out of the country. All task statuses can be tracked through an intuitive interface, which ensures that the employee completes the check and that the bank has valid documents in accordance with the law. KYC/AML Task Manager is used by NLB Banka Podgorica. Why is KYC the topic of CBCG Hackathon? KYC is currently a hot topic in the region. In most countries it is not possible to open an account remotely but the laws are slowly changing which creates the prerequisites for the next level of digitization of banking. The KYC theme does not limit teams to developing identity verification services. As long as KYC verification is the basis of the solution, the application can vary and thus create potentially innovative banking products. The software solution that performs KYC verification, as well as other applications of this concept, have a potentially interested audience which gives the participants of the hackathon an opportunity to acquire clients by pitching on stage. Submit your solution for the CBCG Hackathon Do you think you have a solution that would change the way digital KYC verification is done or use it for a more complex solution that digitizes the bank? Register via the link on the Takai platform by October 1. All ideas will go through a pre-selection process, and the 5 best teams will be chosen to present their solutions to an expert international jury. The first-placed team will receive 12,000 euros for further development of the idea and additional support from the Central Bank of Montenegro, while the best team from Montenegro will receive a cash prize worth 3,000 euros, courtesy of Mastercard. All details about the application, as well as the application form, can be found at the link.
