sq flag go to the original language article
This article has been translated by Artificial Intelligence (AI). The news agency is not responsible for the content of the translated article. The original was published by ATA.

The third call of the “Challenge Fund” in Albania, EU4Innovation support for new entrepreneurs

by AI | 20.Mar 2025 | Europe in brief AI

The meeting gathered over 40 participants from various fields such as the creative economy, technology, crafts, and tourism services, professionals and entrepreneurs engaged in creating new ideas and solutions for the Albanian market.

The informational team of the third call of the “Challenge Fund” program

The third call of the “Challenge Fund” program supports innovative ideas in entrepreneurship in various fields of the creative economy and technology.

EU4Innovation in Albania has conducted numerous informative sessions for young people who want to apply for the third call of the “Challenge Fund”.

In an informative session attended by officials from the Albanian Ministry of Economy, Culture, and Innovation, discussions were held about the new opportunities the program offers to startups and small and medium enterprises in Albania, supporting innovative solutions at different stages of development.

The meeting gathered over 40 participants from diverse fields such as the creative economy, technology, crafts, and tourism services, professionals, and entrepreneurs engaged in creating new ideas and solutions for the Albanian market.

Through the “Challenge Fund” program, a total of 40 grants have been awarded so far, with total funding of 712,552.08 euros.

The program funds 3 categories: Idea and Validation – 10,000 euros (5% co-financing), Growth Phase – 20,000 euros (20% co-financing), Scale-Up – 30,000 euros (30% co-financing).

The Albanian Deputy Minister of Economy, Culture, and Innovation, Sokol Duma, present at the meeting, announced that, together with “EU4Innovation”, over 11.7 million euros have been invested to empower the innovation ecosystem and Albanian startups, supporting incubation, acceleration programs, and their participation in international events. (March 20)