Memorandum of Cooperation Signed Between the Association of Banks of Montenegro and the Fintech Committee of the ICT Cluster Cortex
The Fintech Committee of the ICT Cluster Cortex and the Association of Banks of Montenegro signed a Memorandum of Cooperation today. The Memorandum was signed with the aim of jointly participating and contributing to the development of the Fintech sector in Montenegro, implementing PSD2 and PSD3, organizing joint meetings and events, exchanging knowledge and experiences from the IT and banking domains, and jointly responding to and contributing in the fintech segment. One of the key goals of the ICT Cluster Cortex is the digital transformation and smart specialization of Montenegro. In this regard, the Association of Banks of Montenegro stands out as a key partner, aiming to jointly enhance business in the field of financial innovations in Montenegro. This Memorandum formalizes the unification of cooperation among key stakeholders, highlighting their readiness to collaborate on financial innovations that are crucial for positioning Montenegro as an attractive country for Fintech solutions. On behalf of the Association of Banks of Montenegro, the Memorandum was signed by the General Secretary, Bratislav Pejaković, who stated: “We are pleased to have signed the Memorandum of Cooperation with the ICT Cortex Cluster for Information Technologies, Innovation, Education, Design, and Technological Development, which brings together renowned ICT companies and communities in Montenegro. Banks and the Association of Banks in Montenegro already collaborate with members of this cluster on several projects, and through this agreement, we aim to make the cooperation even more effective and visible. It is of great importance to promote domestic expertise, entrepreneurial spirit, new business opportunities, and to jointly define and create solutions for specific needs, thereby demonstrating a synergistic and high-quality effect that contributes to the national digital transformation.” The President of the Fintech Committee of the ICT Cluster Cortex, Miloš Milošević, highlighted during the signing of the Memorandum: “Open banking is a key component of the modern financial sector, enabling better transparency, greater competitiveness, and more accessible services for users. Today, banks do not just offer financial services; they possess software solutions that are the foundation for further innovations, which means that banks cannot exist without IT, nor can IT exist without banks. Through the Fintech Committee of the Cortex Cluster, and together with the Association of Banks of Montenegro, we will continue to actively monitor regulatory changes and participate in the process of financial innovations, ensuring that our industry remains at the forefront of technological advancement, and positioning Montenegro on the Fintech radar of the region.” The synergistic cooperation between IT companies and banks is proof of the maturity of the Montenegrin market in overcoming business barriers, with the aim of contributing to the further digitalization of banking services through synergistic Fintech solutions in Montenegro.
Finticipate x ICT Cortex – Fintech Conference
Don’t miss the opportunity to dive into the world of fintech at this year’s Finticipate Forum and discover how the future of financial technologies is shaping up! In collaboration with ICT Cortex and leading industry experts, the Finticipate Forum offers an in-depth look into the key trends on the brink of transforming the fintech sector. From comprehensive analyses of regulatory frameworks to innovations in modernizing the banking and payment sectors, to the impact of cryptocurrencies on capital markets – expect thorough discussions and knowledge exchange. Join us as we explore together how technological advancements and regulatory changes are shaping financial services and how we can leverage new opportunities emerging in this dynamic sector. The Finticipate Forum is the ideal platform for those who want to lead innovations, understand the complexity of the market, and anticipate future trends in fintech and banking. We can expect a rich program that includes FireSide Chats, panel discussions, and conversations with Fintech Associations. The panelists are leading figures from the world of fintech, promising exceptionally interesting discussions. This is an extraordinary opportunity to directly meet industry leaders, hear their opinions, and exchange experiences on the latest trends and challenges in the sector. Don’t miss the chance to be part of this dynamic exchange of knowledge and ideas that will further enrich your understanding of fintech. The conference will take place on May 31, 2024, at the Mona Plaza Hotel in Belgrade. The Rare Bird discount is valid until Tuesday, April 30th, and if you catch this bird, the registration fee is EUR 370 + VAT. Additionally, our corporate discounts are active for 3 or more participants from the same company, in which case the price is EUR 320 + VAT per ticket. You can also avail a discount using the code #CORTEXFinticipate2024. Registrations are possible via this link or through email: office@finticipate.com.
The third year anniversary of the Montenegrin Information Technology Cluster was celebrated: ICT companies collectively continue to strengthen the IT industry in Montenegro.
The Cluster for Information Technology, Innovation, Education, Design, and Technological Development – ICTCortex, celebrated its third anniversary. The ceremony was attended by friends, partners, and associates, as well as high officials, including the President of Montenegro, Mr. Jakov Milatović, representatives from the Ministry of Education, Science and Innovation, and the Ministry of Economic Development and the Ministry of Public Administration. Cluster Cortex today counts 40 members, including renowned IT companies that are dedicated to advancing the IT sector, digital transformation, and smart specialization of Montenegro. ICT Cortex was founded with the aim of leading the digital transformation of the economy and public administration by a united ICT community. The opening speeches by cluster representatives and state institution officials provided an opportunity to summarize three years of operation and the achievements of the Cluster. “The essence of our work and one of the key objectives is digital transformation. We are aware that we all need to work together on this across three areas, I would say: first, the digital transformation of citizens. We simply need to work towards preparing citizens to use and consume various electronic services, then of the economy, and of course, the digital transformation of public administration. Cortex is very dedicated to this, and it holds a very important place in our goals and work program. As the ICT sector, we can significantly contribute to accelerating digital transformation because it will enhance the efficiency and effectiveness of the entire economy, thereby improving standards for citizens and society as a whole.” Branimir Bukulić, the President of the ICT Cortex Cluster Assembly. The work of the ICT Cortex cluster has been significantly influenced by the selfless support of the Ministry of Education, Science and Innovation, which, by promoting the development of smart specialization within the priority “Information and Communication Technologies,” has supported its operational functioning over the past three years, contributed to the strengthening of the cluster team, and stimulated program activities, as well as internationalization initiatives through the realization of several study visits. The State Secretary, Ms. Marijeta Barjaktarović Lanzardi – Ministry of Education, Science and Innovation, emphasized that ICT Cortex is a result of policy measures implemented under the Strategy for Smart Specialization of Montenegro, which is focused on enhancing the country’s competitive advantages through innovation, with a special focus on the ICT sector. The main goal was to create an adequate framework for the functioning of the innovation ecosystem, which today includes strong cooperation between the public administration, the business sector, the academic sector, and the NGO sector. She pointed out that in the period 2022-2023, more than 7 million euros were invested in the ICT sector through innovation policy measures, which speaks volumes about the state’s commitment to development in this area. “Our activities are focused on creating a sustainable innovation ecosystem, in which ICT Cortex, as an innovation infrastructure, is now very well positioned and has become a partner to almost all state institutions in their efforts to encourage, not only innovations, but also, as we have heard, digital transformation and the improvement of the educational system. Therefore, we believe that we will continue to work together in this direction in the coming period.” Marijeta Barjaktarović Lanzardi, the State Secretary of the Ministry of Education, Science, and Innovation The transformation of information technologies into a vertical economic sector has been set as one of the key goals of the cluster. The path to achieving this goal would not have been possible without the support of the Ministry of Economic Development. Dr. Goran Jovetić, the State Secretary of the Ministry of Economic Development, emphasized that the state has demonstrated through its support for the ICT cluster how things should be done, how successful endeavors should be supported, and, conversely, how successful initiatives can reciprocate this support in the right manner. “I will just remind you that our colleagues from ICT Cortex have taught us many things. Above all, they have taught us something we often hear in theory but struggle to see in practice: that healthy competition is a stimulus. You have 40 companies in the same industry functioning as one family.” Dr. Goran Jovetić, the State Secretary of the Ministry of Economic Development Executive Director of the cluster, Tarik Zaimović, emphasized that synergy is the invisible capital with which the ICT community can work wonders. He reflected on the cluster’s work over the past three years: “We have equipped four high schools worth €1,200,000. Personally, I believe these are among the most beautiful projects we have accomplished. In addition, we have donated over €100,000, which went to nearly 50 various initiatives. We have sent almost 100 company representatives to over 10 countries where we have achieved significant results. Some of our companies have opened branches in the Emirates, and serious collaborations have been established with companies in the region where companies already cooperate with each other.” Executive Director of the ICT Cortex Cluster, Tarik Zaimović Key collaboration with the government plays a crucial role in achieving the goals of both the cluster and its member companies. Over the past three years of existence, ICT Cortex has indeed received significant support from the government of Montenegro. President of Montenegro, Mr. Jakov Milatović, congratulated the cluster on its 3rd anniversary and emphasized: “It is my great pleasure to greet you and, at the outset, congratulate you on the 3rd anniversary you are celebrating today. As the President of the country, but also as a passionate advocate for innovation and technological progress, I am proud of the achievements made in the previous period, as well as the diligence of this successful community. I am additionally proud of the fact that I had the opportunity to, as the Minister of Economic Development, follow your work from the very beginning and provide support on the path to becoming a significant economic actor, as you are now in our society. The ICT sector represents one of the key pillars of modern society, and its competitiveness and innovation have a direct
EU, EBRD, and ICT Cortex: In a Joint Mission to Strengthen the Capacity of the ICT Sector in Montenegro
EU, EBRD, and ICT Cortex: In a joint mission towards enhancing the capacities of the ICT sector in Montenegro. Successfully completed the Adizes Leadership Program designed for top managers from renowned IT companies within the Montenegro ICT Cortex cluster, with the support of the European Union and the European Bank for Reconstruction and Development (EBRD), in collaboration with the Ministry of Economic Development. The program lasted for 7 months, during which participants had the opportunity to learn about company transformation and management skills with a focus on experiential learning and knowledge exchange. Topics covered in the program included decision-making, change management, business life cycles, finances for top managers, personal effectiveness, business negotiation, and people management, along with practical tools and recommendations for application. The culmination of the event took place on January 24, 2024, at the Ramada Hotel, where certificates were awarded to the participants. The event was opened by the State Secretary of the Ministry of Economic Development, Mr. Goran Jovetić, who emphasized that the digitally transformed Montenegro is a common interest for all of us. He highlighted the need for an accelerated process, heavily relying on the domestic ICT sector, which should act as its main driver. “The focus of the Government of Montenegro and the Ministry of Economic Development is to create economic support programs aimed at initiating and further strengthening economic activities while enhancing the competitiveness of domestic products and services. In this context, we have already initiated a broad round of public consultations with all stakeholders, from the business sector to the professional and academic community, to find optimal solutions for adequate support to the economy. The emphasis will undoubtedly be on strengthening manufacturing activities and transforming the economy towards digital and green business. The actions and activities of the ICT cluster Cortex are one of the best examples of collaborative efforts between the business sector and strong cooperation with institutions at the national and local levels. We believe that, through joint efforts in all fields, primarily through a strategic approach and government policies, and through interdepartmental cooperation, we will contribute to the process of digital transformation of the Montenegrin economy and the creation of a digital society.” – State Secretary of the Ministry of Economic Development, Goran Jovetić The project was implemented within a program financed by the European Union with a budget of 1.4 million euros. The official guests and program participants were addressed by the EU Ambassador to Montenegro, Her Excellency Oana Kristina Popa. She emphasized that the European Union is unwavering in its support for the economic development of Montenegro, as reflected in the priorities outlined in the Growth Agenda for the Western Balkans. This initiative opens the doors for Montenegro to access funds totaling over 400 million euros in direct support, contingent upon the adoption of key reforms, including those in the development of the private sector and the business environment. EU Ambassador in Montenegro, Oana Kristina Popa The entire program is supported by the European Bank for Reconstruction and Development (EBRD), and Mr. Remon Zakaria, the Head of the EBRD Office for Montenegro, emphasized the following: Small and medium-sized enterprises (SMEs) are a crucial sector for the development of the Montenegrin economy. We are pleased to support their development through advisory services, backed by financing from the EU and in close collaboration with the Ministry of Economic Development. – Head of the EBRD Office in Montenegro, Remon Zakaria The capacity strengthening and skills development had the opportunity to enhance the capabilities of 36 participants in the program, who hold top management or leadership positions in renowned ICT companies within the Cortex cluster: Alicorn, AI, Bild Studio, Coinis, Codeus, Čikom, Data Design, Euro-Unit Montenegro, Fleka, Logate, Oykos Development, and Telemont. On behalf of the hosts and representatives of the ICT cluster Cortex, the President of the Assembly of the ICT cluster Cortex, Branimir Bukilić, addressed the attendees and delivered the concluding remarks: “As an ICT cluster, we have implemented numerous activities focused on the strategic goals set since our establishment, in line with the agenda of the Ministry of Science and Technological Development, which has provided us with significant support. We believe that the domestic IT industry, represented by Cortex, can and should be a government ally when it comes to the digital transformation of society and other crucial projects”. -President of the Assembly of the ICT Cortex Cluster, Branimir Bukilić After the introductory address, attendees had the opportunity to participate in a panel discussion summarizing the entire program and emphasizing the significance of conducting similar education initiatives to strengthen capacities at all levels of decision-making. Certificates were awarded by Matija Dautović on behalf of the EBRD office in Montenegro, followed by a ceremonial cocktail.
Support for cluster internationalization activities
Support for cluster internationalization activities Brief description of the project: The project represents de minimis support in order to realize the segment of internationalization and study visits of clusters in the region. It will include networking and cooperation with IT companies from the region and Europe, for the purpose of implementing joint initiatives, participation in EU tenders, exchange of experience, knowledge and good practices. Key activities: Organization and realization of study visits in the Western Balkans, in Eastern and Western Europe, in the Nordic region and the USA. Project partners: – Duration: May 2022 – December 2024 Budget: 200,000 euros Funding by: Ministry of Science and Technological Development Projects Support for cluster internationalization activities December 29, 2023/No Comments Support for cluster internationalization activities Brief description of the project: The project represents de minimis support in order to realize… Read More Job Booster – Vet4All December 29, 2023/No Comments Job Booster – Vet4All Brief description of the project: The project was prepared in cooperation and for the needs of… Read More StepUpWithCortex – Improving the competitiveness of small IT companies in Montenegro December 29, 2023/No Comments StepUpWithCortex – Improving the competitiveness of small IT companies in Montenegro Brief description of the project: The goal of the… Read More Više objava End of Content.
Psupport for the development of the priority domain Smart specialization strategies – Information and communication technologies – (S3-IT)
Psupport for the development of the priority domain Smart specialization strategies – Information and communication technologies – (S3-IT) Brief description of the project: The creation and capacity building of an independent and inclusive Association – ICT Cortex, which will be focused on the growth of the ICT sector and the promotion of the industry, strengthening innovation and the R&D ecosystem, and working to connect all stakeholders (private, public, academic community and non-governmental organizations) to work together on digital transformation of Montenegrin society and economy. Key activities: Creation and capacity building of the Association – ICT Cortex, Establishment of the administrative body, the assembly and the board of directors for the ICT cluster, Procurement of the necessary work and office equipment, renting of office space, Maintaining the Executive Office, organizing the sessions of the Board of Directors and the Assembly and sessions of the Expert Committees, Carrying out activities to increase the number of members of the Association, Implementation of the software solution and setting up of the Association’s digital infrastructure, Design and development of the official website, Defining and managing the promotion channels of the Association, Provision of license and installation of financial records software, Providing and setting up a document management system (DMS), The launch of the first Montenegrin technology portal, Organizing annual conferences of the Cluster, internationalization, Participation and organization of meetings, hackathons, competitions, conferences, Networking and connecting the IT community with all stakeholders in society (at the national, regional and international level), Networking and creation of partnerships and consortia in order to apply for international, bilateral and EU funds, Contribution to the digital transformation of society and economy, Education, Media promotion of the Association. Project partners: – Duration: January 2022 – December 2024 Budget: €1,096,722.80 (50% is the contribution of member companies) Funding by: Ministry of Science and Technological Development
Education program”Cortex Academy”
Education program”Cortex Academy” Brief description of the project: Cortex Academy is the first IT education program in Montenegro in which the largest member companies of the cluster participated in the goalsecurity quality staff. The goal of the Cortex Academy is to create quality new staff, increase employment, reduce brain drain, strengthen corporate education and contribute to the education system. Educational programs are intended for high school students, students, professors and IT experts, but also for all those who want to specialize, requalify or improve existing knowledge in one of the ICT fields. All participants of the Academy who successfully complete the programs will be part of the Cortex HR database, available to member companies. Key activities: Organization of education programs, Recruitment and selection of participants, Procurement of content and courses, Organizing practical classes in companies, Promotional activities. Project partners: Foundation Čini dobro, Telekom, municipality of Bilje Polje and municipality of Nikšić. Duration: November 2021 – November 2022 Budget: 26,402 euros Funding by: Reconomy logo,Telekom Projects Let’s do practice December 28, 2023/No Comments Let’s do practice Project Brief: The project presents Cortex practice for high school students. 28 third-grade students of the Vaso… Read More Support for Promotional Activities of the ICT Cortex Cluster December 28, 2023/No Comments Support for Promotional Activities of the ICT Cortex Cluster Project Brief: The HELP Office in Montenegro is the first donor… Read More RCF: Grants awarded for the development of professional education February 2, 2022/ The official ceremony for the awarding of grants from the Regional Fund for Challenges was held on February 2, 2021,… Read More
Certified Agile and Scrum Product Owner Training
Certified Agile and Scrum Product Owner Training Brief description of the project: Agile project management is becoming imperative in modern business. Therefore, the project was created with the aim of realizing education on the topics of Scrum Master and Product Owner, for employees from member companies and the Cortex executive office. 20 participants attended the training. After completing the training, the participants took a test and received certificates. Key activities: Selection of participants, Choosing a training provider, Realization of training, Testing of participants and awarding of certificates. Project partners: The company Agile Humans from Belgrade Duration: November 2021 Budget: 4,898.40 euros Funding by: Ministry of Economic Development of Montenegro through the Enterprise Europe Network (logo) Projects Let’s do practice December 28, 2023/No Comments Let’s do practice Project Brief: The project presents Cortex practice for high school students. 28 third-grade students of the Vaso… Read More Support for Promotional Activities of the ICT Cortex Cluster December 28, 2023/No Comments Support for Promotional Activities of the ICT Cortex Cluster Project Brief: The HELP Office in Montenegro is the first donor… Read More RCF: Grants awarded for the development of professional education February 2, 2022/ The official ceremony for the awarding of grants from the Regional Fund for Challenges was held on February 2, 2021,… Read More
Meeting of agriculture and IT
Meeting of agriculture and IT Brief description of the project: The project aimed to map activities for the development and implementation of IT solutions in the agriculture of Montenegro, as well as the specific needs of companies in terms of management of information solutions, precision agriculture,automation and robotics. Key activities: desk analysis, In-depth interviews with 10 companies – the largest representatives of Montenegrin agriculture. Making the Analysis. Project partners: – Duration: October 2021 – March 2022 Budget: 5,000 euros Funding by: Reconomy logo
Join DMZCON 2023, the International Cyber Security Conference taking place in Podgorica this year
DMZCON 2023 is an international conference focused on cyber security and will be held in Montenegro for the first time from September 28th to October 3rd. With over 50 speakers from the field of information security, the conference program offers three parallel tracks with comprehensive reports, roundtable discussions, and technical workshops. The conference is strongly oriented towards business networking and knowledge sharing among renowned experts in the Cyber Security field. DMZCON is known for its distinguished speakers and experts coming from reputable companies and countries worldwide, such as the USA, Finland, India, Poland, Israel, as well as local speakers from Montenegro. The conference website provides a list of confirmed speakers, while the announcement of additional speakers can be expected in the coming weeks. The agenda and details are available on the official conference website. The conference is organized by Montenegrin IT cluster ICT Cortex, DMZ Labs, and RST Cloud with Netokracija as the media sponsor in Croatia. The organizing team invites all interested parties to join this international conference and actively participate in the rich program that awaits all attendees. Moreover with respect to local companies DMZCON organisers decided to extend early bird period until September 1 (for balkan-native companies) offering 1 ticket + 1 gratis.
Members of ICT Cortex and the Čini Dobro Foundation donated tablets for the most distinguished students
Milatović emphasized that from the position of the President, he will appeal to relevant institutions and all social actors to create incentives for diligent, exemplary, and dedicated individuals and recognize their potential, thereby building a society on solid foundations President Jakov Milatović hosted a reception at Villa Gorica for distinguished students and the top graduates of high schools for the academic year 2022/2023. As announced by the President’s Office, Milatović stated that the reception will become a tradition, as a clear sign that effort and dedication in the field of education should not go unnoticed and unrecognized by the state. “Do not wait until you grow up to realize the significance of the moment you are in because a spectrum of opportunities lies ahead of you to earn much greater recognition for your talents and creativity than what brought you here today. Always be aware of the value you bring to Montenegro and the world, with your ability to make a difference and influence our common future. Although young, proudly represent the positive values from the tradition of our country and do not forget that unity, solidarity, and trust yield the most noticeable results“, said Milatović. He emphasized that from the position of the President, he will appeal to relevant institutions and all social actors to create incentives for diligent, exemplary, and dedicated individuals and recognize their potential, thereby building a society on solid foundations. “At your age, when you are at the crossroads between the adult world and childhood, I wish for you to remain curious, unwavering in your ambitions, to strive for excellence, and not allow anything to deviate you from the path of realizing your dreams. I do not doubt that in the coming years, you will further improve and work on self-development, and we will have the opportunity to meet again and celebrate your successes. Remain the best and be devoted to Montenegro because it needs you“, said Milatović. As a gift for their achievements, he presented vouchers for tablet devices to the top 62 high school students. “The devices are donated by ICT Cortex – the cluster for information technology, innovation, education, design, and technological development of Montenegro, and its members Čikom, Sky Sat, and Sky Express, as well as the “Čini dobro” Foundation. In addition to tablet donations, all students will have access to approximately 30 premium courses on the Cortex Academy platform, as well as 50 best-selling books in the fields of marketing, design, programming, project management, and technology,” stated the President’s Office. The content has been taken from the website Vijesti.me
“Visit Village” Wins First Prize in Health Tourism Hackathon
The team “Visit Village” has won the main prize at the hackathon dedicated to rural and health tourism, held in collaboration with the Innovation Entrepreneurship Center Technopolis, the Innovation Fund of Montenegro, the Science and Technology Park, and ICT Cortex, organized by the Ministry of Health under the theme “Discovering the Potential of Health Tourism in Montenegro.” The University of Singidunum team secured second place, while third place was shared between the WellBeing and ZdravCom teams. Speaking about the significance of organizing this event for the Ministry of Health, which, for the first time in Montenegro, was held in this format with a focus on health tourism, Luka Đukanović, the General Director of the Directorate for Projects (IPA), Innovation, and Health Tourism at the Ministry of Health, emphasized that the hackathon provided an opportunity to hear and develop innovative ideas to improve the promotion of Montenegro as an attractive destination for the development of health tourism. “Montenegro truly abounds in natural potentials for the development of health tourism, which have not been fully utilized thus far. One of the key reasons for this is the insufficient collaboration between public administration, the economy, and the scientific research community. As we aim to develop high-level health tourism, we must strengthen this collaboration. The Ministry of Health will continue to work on developing ideas in the field of health tourism and creating a better business environment to motivate the economy to invest more in this area. Of course, the role of the scientific research community is essential for providing scientific confirmation of these potentials and creating innovative services in this field.“ LUKA ĐUKANOVIĆ Expressing the expectation that this event will encourage everyone to make greater efforts and effectively utilize what Montenegro has to offer, Đukanović thanked the Ministry of Health’s partners in organizing the hackathon: ICT Cortex, Technopolis, the UNDP Office in Podgorica, the Innovation Fund, and the Science and Technology Park. Mladen Kandić, HR Manager for Education, stated that the hackathon’s theme was to create innovative software solutions to improve the promotion of services in the field of health tourism, with the goal of positioning Montenegro as an attractive tourist destination in the field of health tourism by identifying organizations providing services in this area, as well as natural resources that can be utilized. He mentioned that 12 teams participated in the hackathon, and the pre-selection jury, based on predetermined criteria, selected five teams that entered the final phase of the competition for a prize fund of 10,000 euros, provided by the Ministry of Health through the project “Strengthening the Health System of Montenegro” in collaboration with UNDP.
ICT Cortex: ICT Cluster Calls on the Government of Montenegro to Ensure Compliance with Contractual Obligations with doMEn Company
Thanks to all the initiatives launched by the doMEn company in Montenegro, the country has become part of the regional and European ICT scene, and doMEn has become recognized as a sincere and dedicated partner of the Montenegrin IT community. “We appeal to the Government of Montenegro to reconsider the Decision on announcing a Public Call for the selection of an Agent for .me domain registration and to ensure compliance with contractual obligations with the doMEn company, which is bound by the principle of the rule of law,” states the ICT Cortex professional association regarding the announcement of the Public Call for the selection of an agent for .ME domain registration. This association, representing over 40 domestic and foreign ICT companies, emphasizes that the potential violation of contractual obligations by the Government of Montenegro jeopardizes the reputation of the Montenegrin business environment and sends a negative message to both existing and potential investors in the IT sector, especially considering that doMEn’s founders include some of the largest American IT companies and renowned leaders in the world of new technologies – Identity Digital, formerly Afilias, and GoDaddy.com LLC. In addition to building a recognized global brand, the doMEn company’s impact on the development of the ICT sector in Montenegro should not be overlooked. One of these impacts is evident in the establishment of the ICT cluster Cortex, of which the doMEn company is one of the founders. The cluster has directed its activities towards strengthening the IT sector and creating conditions for this industry to become the cornerstone of future economic development in Montenegro. Furthermore, it can be said that the pioneering endeavors of the Montenegrin IT community were made possible with the support, knowledge, and experience of renowned American investors through the assistance of the doMEn company. Given that one of the main problems of the IT industry is the lack of skilled professionals, the entire community strives to contribute to the creation of new talent through its courses and extracurricular programs. Since its establishment, the doMEn company has made a significant contribution in this regard, having invested over 1.4 million euros in socially responsible activities in its 15 years of existence. The company has supported 14 generations of primary and secondary school students through its free doMEn programming school. The company has also sponsored robotics competitions, and knowledge Olympiads, and has invested in creating content that directs children toward new technologies through its portal, STEMedukacija.me, and projects such as “My Future STEM Occupation.” At the same time, the association adds that the doMEn company is among the first representatives of the private sector that has actively worked on the development of the Montenegrin startup ecosystem for over a decade. The community regularly takes part in opportunities created by doMEn, with a notable example being the Spark.Me conference – one of the largest business and technology conferences in the region. Through competitions organized by the company, startup teams have had the opportunity, with its sponsorship, to showcase their solutions at the renowned Tech Crunch conference held annually in San Francisco. Thanks to all the initiatives launched by the doMEn company in Montenegro, the country has become part of the regional and European ICT scene, and doMEn has become recognized as a sincere and dedicated partner of the Montenegrin IT community. Thanks to projects initiated by doMEn in collaboration with the Vaso Aligrudić Electrotechnical School, Cortex members have continued to support the school and have secured funds of approximately 550,000 euros from the Regional Challenge Fund for the school’s modernization, which will be one of the largest non-repayable investments in a secondary vocational school in Montenegro. The fact that doMEn, as an export-oriented company with the best export brand in Montenegro, primarily contributes to the economy of Montenegro and its economic development through the export of products and services, totaling over 8 million euros in 2022, should not be overlooked. All these activities, along with many others carried out by the domestic IT sector, should contribute to strengthening the human and financial resources for the development of the IT sector in Montenegro, to attract and initiate new domestic and foreign investments. To function as such a system, support and understanding from the government and institutions are necessary to make Montenegro a desirable and safe country for IT investments, with the capacity to undertake such projects. As responsible partners of the Government of Montenegro in implementing development policies, ICT Cortex urges the need to work on improving and creating an attractive business environment for investments in the growing IT sector, where every investor and IT company will enjoy full respect for the rule of law. The resolution of all issues should be sought through adequate and timely dialogue. ICT CORTEX
Numbers confirm: IT has the potential to become a strategic sector for the development of Montenegro
The potential of the IT industry is receiving increasing public attention, and Montenegro is becoming an important country for IT investments. The actual extent of this potential was demonstrated by the numbers presented at today’s press conference organized by ICT Cortex and the Chamber of Economy of Montenegro, where the results of an ICT research study were presented. Montenegro is experiencing growth in the ICT sector in terms of the number of companies, employees, as well as revenues and profits. This was shown by the analysis of the IT sector in Montenegro conducted by the consulting firm “CEED Consulting” for the needs of the ICT Cortex cluster, under the auspices of the Reconomy program. One particularly interesting finding from the research is that the export of computer services increased to a record 21% in 2022, compared to only 3% in 2017. “The growth in the number of companies has been influenced by the war in Ukraine. Despite the crisis, the IT sector is experiencing growth in all observed parameters, and the IT industry has also seen revenue growth. The analysis showed that companies are facing a shortage of qualified workforce,” said Jovana Vujačić from the company “CEED Consulting.” Among the 70 surveyed companies, the following interesting data stand out: Nina Drakić, the President of the Chamber of Economy of Montenegro, stated that, in addition to tourism, agriculture, and energy, the IT sector is recognized as a strategic sector. “The IT sector had the highest growth last year, which indicates its potential,” said Drakić. Statistics show that the number of registered companies in the ICT sector has been steadily increasing on an annual basis. In the previous year, 1,497 companies were registered, and from the beginning of this year until April, 313 companies have been registered. “In the last five years, the structure of the ICT sector has changed. Statistics show that the IT sector accounts for 84% of the ICT sector. Compared to other sectors, the ICT sector deserves to be a priority economic branch,” said Nada Rakočević, Secretary of the Committee of Information and Communication Technology Associations within the Chamber of Commerce of Montenegro. She further highlighted key figures, pointing out a nearly 70% increase in the number of companies and a 44% increase in employment. The ICT Cortex cluster announced that revenues in the ICT industry reached 602.432.407 million euros last year. “Net profit increased by over 100% compared to 2019. With the growth of ICT companies, the number of employees also increased by 30% last year compared to 2021,” said Milena Aković from the ICT Cortex cluster. She emphasized the need to highlight the significance and potential of the IT industry, which should become a strategic sector. Vladan Tabaš, the CEO of Čikom company and the President of the Board of Directors of ICT Cortex, stated that the IT sector is growing rapidly, but the level of digital transformation in society is not satisfactory. “IT has advanced to a great extent, but the digital transformation in Montenegro is slow. We are entering the digital world, and perhaps the turning point was the COVID-19 pandemic. The obstacle is our educational system, which does not provide the necessary workforce. We need skilled professionals, and therefore, we appeal for significant changes in Montenegro’s educational system,” said Tabaš.
We are hiring a Key Account Manager
In just over two years of existence, ICT Cortex has emerged as a key player in Montenegro’s innovation ecosystem. We bring together the most promising IT companies that are setting technological trends and best management practices in the domestic market. Numerous successful projects stand behind us, thanks to the team spirit and synergy we have fostered both among companies and employees. That’s why we value a great team above all else! The team we are building consists of individuals who: If you want to be part of such a team, here’s your opportunity! We are looking for someone to work with us on internationalizing our companies’ operations. This means your key responsibilities would include: We expect the following from you: In addition to these criteria, we highly value your personal qualities, especially: At ICT Cortex, we know that salary is not the only motivator for quality talent. Therefore, in addition to competitive compensation, we offer: Interested candidates can send their CVs and motivational letters to the email address: contact@ictcortex.me. The deadline for applications is June 16, 2023.
