About project

Small and medium-sized enterprises (SMEs) have a major role and importance in the economy of every country, and are a key source of its growth. In today's economic system, SMEs are defined as the force that can have the greatest impact on the further improvement of the economic structure. At the same time, no economy is sustainable in the long term without innovation, so innovation policies should be complementary to SME-oriented policies.

Although the competitiveness of the economy is one of the key factors of innovation, in Bosnia and Herzegovina a small percentage of companies decide on some innovative activities. As the most important barrier in the implementation of innovative activities, the lack of funds within the company or group of companies, the lack of internal finance for innovation, and the lack of funds from sources for innovation outside the company were highlighted.

Sweden recognized the above-mentioned problems in Bosnia and Herzegovina and continues to support innovative business entities within the Challenge to Change 3.0 project.

The total budget of the three-year Challenge to Change 3.0 project is EUR 3 million, and the Challenge fund is available to registered business entities from Bosnia and Herzegovina and Sweden, who have innovative ideas that can lead to an increase in the number of employees, an increase in competitiveness and sustainable socio-economic development in to our country. Within the project, four calls for proposals are planned. Business entities that meet the required criteria can receive grants in the amount of a maximum of EUR 30.000.