The Regional Conference “Challenges and opportunities for innovative economic development” was held today in Mostar, Bosnia & Herzegovina. Over 50 participants had the opportunity to learn more about the challenges of innovation and the opportunities in the socio-economic scope. The Conference was organised by BiH Federation Ministry for Development, Entrepreneurship and Craft, BiH Federation Ministry for Education and Science and INTERA Technology Park in Mostar, in cooperation with the EU-funded project “INOVO – Institutional capacity building of three innovation centres and research sector in Bosnia and Herzegovina” implemented by the ECG-led Consortium.

The INOVO project has implemented project activities since January 2013 in cooperation with the BiH Federation Ministries and INTERA Technology Park, working on strengthening the capacities of the authorities for better development of innovation policies. At the Conference, Mr. Marsaili Fraser, Head of the Mostar Office of the EU Delegation to BiH/EUSR said: “Bosnia and Herzegovina has huge capacity in its people, successful in many fields, as well as in science and innovation. The innovations can be one of the key factors to better prosperity and economic growth of this country, which brings more jobs and better lives for citizens of Bosnia and Herzegovina.”

The main aim of the Conference is to initiate periodical meetings between the main stakeholders aiming to support innovation and development by bringing together high-level public officials, representatives of the major companies, research and development organisations and innovation support providers in Herzegovina region in FBiH. Mladen Kostić, Director of INTERA Technology Park Mostar emphasized that the Conference is about the future trends: “What the authorities need to do, but also what do we as individuals need to do be more innovative. This event should contribute to better understanding of innovation. We should be aware that the only way out of the trap of average incomes and to go forward towards the European integrations through entrepreneurship and more added value.”

The Conference provided a unique opportunity for networking, developing the common understanding of the challenges and opportunities for innovation development, and influencing economic development and the importance of raising the employment rate. INOVO Project Team Leader, said at the Conference “I am confident that this exceptional event where all four stakeholders of innovation process – public administrations, enterprises, universities, and intermediary organisations as INTERA Technology Park – are meeting will provide a new impulsion for innovation and innovative economic development in the region and BiH. I am pleased that INOVO project was able to assist in springing-up these processes.”