Contract signed for new NOVALIS project – support for the development of innovation network in the sectors of metal and wood processing industry

Contract for implementation of the project NOVALIS – Network of Value Adding Local Innovation Structures is signed on 16 July 2020. The project is focused on improving competitiveness of export-oriented SMEs in metal and wood processing sectors in BiH with expected positive impact on added value and highly skilled employment. It is envisaged that the project will result in establishing functional regional innovation network creating innovations with higher added value for SMEs in Metal Processing and Wood Processing sectors exporting to the EU Single Market and to the CEFTA countries.

The project NOVALIS is supported within implementation of EU4Business by the funds from European union in the amount of more than 277 thousand EUR, while the total value of the project is more than 346 EUR. The project will be implemented until the end of 2021, by Enterprise Development Agency Eda Banja Luka in partnership with companies Spektra DMG, MasterWood, E-info, and Faculty of Mechanical Engineering in Banja Luka.

To strengthen the economy of BiH, EU4Business is supporting development of entrepreneurship, export-oriented sectors, tourism and agriculture, as well as rural development. The total value of the project is EUR 16.1 million. The EU4Business project is jointly funded by the European Union (EUR 15 million) and the Federal Republic of Germany (EUR 1.1 million). The EU4Business project is jointly implemented by GIZ, UNDP and ILO, from April 2018 to March 2022.  EU4Business is part of the “Local Development Strategies” Action – Programme for Local Self-Government and Economic Development in BiH, supported by German Federal Ministry for Economic Cooperation and Development (BMZ). For more information about EU4Business project visit: