The Ministry of Regional Development and Funds of the European Union and the Croatian Agency for SMEs, Innovation and Investments (HAMAG-BICRO) signed the Agreement on the implementation of the pilot project EmBRACE (Enhancing MSEs sustainaBle gRowth And Competitiveness) within the framework of the Interreg IPA cross-border cooperation program Croatia – Bosnia and Herzegovina – Montenegro 2021 – 2027, which aims to encourage continuous growth and improvement of the competitiveness of micro and small businesses in the border area of the three countries. The contract was signed by the Minister of Regional Development and Funds of the European Union Šime Erlić and the President of the Management Board of HAMAG-BICRO Vjeran Vrbanec and the Deputy President of the Management Board of HAMAG-BICRO Ante-Janko Bobetko.
During the signing of the Agreement, Minister Šime Erlić stated: “We continue to support the development of business models, products, services and processes that strengthen the resilience and adaptation of companies to climate change, with a special emphasis on the implementation of digital technologies. The development and competitiveness of small and medium-sized enterprises remains the focus of our programs, all with the aim of increasing jobs and a better socio-economic situation in the program area”.
President of the Management Board of HAMAG-BICRO Vjeran Vrbanec pointed out: “Encouraged by the successful implementation of the B Light pilot project and the implemented innovative cross-border cooperation projects within the framework of the Interreg V-A Cooperation Program Hungary – Croatia 2014 – 2020, HAMAG-BICRO as a key Government agency for encouraging micro, small and medium-sized enterprises launches a new pilot project EmBRACE. We designed it with the aim of encouraging micro and small entrepreneurship in Croatia, Bosnia and Herzegovina and Montenegro. We are particularly proud that for the first time in part of the program area we have made funds available from the Small Project Fund (SPF).”
REQUIREMENTS FOR SMALL PROJECT APPLICATION
Through the project, cross-border cooperation of micro and small entreprenuers from Croatia, Bosnia and Herzegovina and Montenegro will be financed. Applicants must have a registered seat on the territory of the *program area. At the same time, each Small Project application must include the cooperation of at least two and at most four project partners from at least two countries included in the Interreg IPA cross-border cooperation program Croatia – Bosnia and Herzegovina – Montenegro 2021 – 2027. The total value of the project is 11.764.706 EUR, of which 10.265.087 EUR available to micro and small entrepreneurs. The projected duration of the project is 60 months.
WHAT CAN BE FUNDED THROUGH THE SMALL PROJECT?
Financial support will be approved for the development and adaptation of business models, products, services and processes, encouraging the development of local micro and small enterprises, with a strong emphasis on the introduction of product or process innovations, the development of pilot actions and new business solutions, while at the same time improving their cross-border business cooperation. The financed Small Project can last a maximum of 12 months, and the European Union will co-finance 85% of the total value of the project.
The project is co-financed by the European Fund for Regional Development (ERDF) and IPA III by the European Union.