An Exclusive Interview with Fabiola Duro, Founder of INNVEST

1. What inspired you to establish INNVEST, and how has its mission evolved over the past six years?

INNVEST was born out of the need to create a platform that bridges the gap between innovation, entrepreneurship, and investment in the Western Balkan’s 6 countries. Initially, our mission was to empower startups and SMEs by connecting them with investors and fostering collaboration across industries. This mission has evolved over the past six years to include a stronger focus on technological innovation, digital transformation, and sustainability. We now look to shape regional economic growth by driving innovation in key sectors, while also empowering youth and fostering cross-border partnerships. We tend to support inclusive economies where individuals, businesses, and communities can thrive.

We strengthen the competencies of people, increase the competitiveness of enterprises, and foster the inclusiveness of social and economic systems based in 6 main expertise pillars;

– Entrepreneurial

– Digital payments and transformation

– Green Transformation: The New Age of Sustainability

– Sustainable tourism and agritourism

– Training, upskilling and reskilling

– Labor market inclusion of human capital

 

2. How does the INNVEST Summit contribute to the broader goal of fostering innovation and entrepreneurship in the Western Balkans?

The INNVEST Summit is a cornerstone of our efforts to build a thriving innovation ecosystem in the Western Balkans. By bringing together key stakeholders from the private sector, government, and academia, we create a unique space for collaboration and knowledge sharing. The summit not only highlights new trends and technologies but also provides startups, SMEs, and entrepreneurs with practical tools and insights to scale their businesses. This platform facilitates partnerships that drive economic growth and enhances access to financing and mentorship, crucial elements for fostering innovation and entrepreneurship.

 

INNVEST Summit 2024

1. What makes this year’s INNVEST Summit 2024 unique compared to previous editions?

This year’s summit stands out due to its strong focus on regional economic competitiveness and digital transformations and leading by example. The awarding of the pilot project “digitaltour challenge” winners, leading by example the pilot project “National Cashless Payment Initiative – Better Way” by GIZ WB and NALEA in Serbia that it might be a successful potential to be also replican\ble in Albania digital payments reformations, and the newest regional initiatives like the Youth for Future Challenge (Y4F) marks a pivotal moment in our journey to involve younger generations in shaping the future. Additionally, the 2024 edition will feature enhanced collaboration with strategic partners like VISA, making the summit more impactful in terms of financial inclusion and innovation. We’re also focusing on real-world case studies, success stories, and hands-on workshops to provide tangible takeaways for all participants.

2. Could you tell us more about the key themes of this year’s summit, particularly in areas like economic competitiveness and digital transformation?

This year, we are diving deep into economic competitiveness, especially within the Western Balkans. We’ll discuss how innovative solutions, strategic investments, and digital transformation can boost regional development. Key themes include FinTech innovation, sustainable tourism, green jobs, and smart cities. We’ll also explore ESG policies and their importance for companies looking to scale while staying socially responsible. Digital transformation will be central to discussions, emphasizing how emerging technologies can create more efficient, inclusive, and competitive economies.

3. The Youth for Future Challenge (Y4F) is a new initiative this year. How do you envision this challenge empowering young entrepreneurs in the ecosystem sector?

Y4F aims to provide young entrepreneurs with the tools, mentorship, and platforms they need to innovate in key sectors like tourism, agriculture, FinTech, and green jobs. By involving youth in a hackathon-style environment, we hope to ignite their creativity and problem-solving skills, allowing them to develop solutions that address both regional and global challenges. Beyond that, Y4F will serve as a launchpad for ongoing projects that will continue after the summit, ensuring long-term engagement and support for these young innovators.

 

Strategic Partnerships and Impact

1. Over the years, INNVEST has collaborated with various partners. How have these partnerships shaped the impact of the summit?

Our partnerships have been instrumental in expanding the scope and reach of the INNVEST Summit. Collaborating with local and international partners has allowed us to attract more diverse speakers, create new funding opportunities for startups, and enhance the overall experience for participants. These partnerships bring in specialized knowledge, resources, and networks that help us scale the impact of the summit, enabling us to provide more value to attendees and the broader ecosystem. Through the years we have connected our roots with the most important international, regional, and national organizations such as Helvetas, Risi Albania, GIZ, EU for Innovation, RECONOMY, NOA, etc.

2. This year, VISA is a strategic partner. Could you share some insights into their role and how their expertise will enhance the event?

VISA’s strategic partnership with INNVEST Summit 2024 is a game-changer. Their expertise in digital payments, financial inclusion, and FinTech innovation aligns perfectly with this year’s focus on economic competitiveness. VISA will provide critical insights into how digital financial solutions can support businesses of all sizes, making the summit more practical and solutions-oriented. Through their involvement, we’ll explore ways to drive financial accessibility in the region, supporting both entrepreneurs and established businesses in adopting digital payment systems that foster growth.

 

Regional Development and Innovation

1. How does the INNVEST Summit support start-ups and incubators in the Western Balkans? What specific resources or opportunities will they have access to this year?

The INNVEST Summit provides startups and incubators with invaluable access to investors, mentors, and partners. This year, we are offering dedicated networking sessions, pitch events, and workshops that focus on scaling strategies, financial management, and market expansion. Startups will also have the opportunity to showcase their solutions to a broad audience, including venture capitalists and strategic partners looking for innovative projects. By connecting early-stage companies with the right resources, we help accelerate their growth in a competitive marketplace.

2. What role do innovation and research & development (R&D) play in the region’s future economic growth, and how does the summit address these needs?

Innovation and R&D are at the heart of future economic growth in the Western Balkans. The INNVEST Summit addresses these needs by fostering collaboration between academia, industry, and government, encouraging investment in research that leads to market-ready solutions. This year’s summit will feature discussions on the importance of R&D in driving competitiveness, with case studies that highlight how local businesses can leverage research to innovate. We’re also pushing for stronger policies that incentivize R&D investments, positioning the region as a hub for cutting-edge technological development.

 

Looking Ahead

1. What are your long-term goals for INNVEST and its future editions? How do you plan to continue evolving the summit to meet emerging global challenges?

Our long-term goal for INNVEST is to become the premier platform for innovation, investment, and entrepreneurship in the Western Balkans. As global challenges evolve, we will continue to adapt the summit’s themes and initiatives to address issues like climate change, digital inclusion, and economic inequality. By building stronger partnerships, incorporating more technological innovations, and expanding our reach to different sectors, we aim to keep INNVEST at the forefront of regional development for years to come.

2. Where do you see the Western Balkans region in terms of economic development and innovation in the next five years, and how will INNVEST contribute to that vision?

In the next five years, I see the Western Balkans becoming a hub for innovation, especially in sectors like digital technology, green energy, and sustainable tourism. INNVEST will play a crucial role in facilitating this transformation by providing a platform for collaboration, investment, and knowledge sharing. Our continued focus on digital transformation and sustainability will help businesses in the region become more competitive, while our Youth for Future Challenge will ensure that the next generation is prepared to drive further innovation.

 

Final Thoughts

1. What message do you hope to convey to the attendees of the INNVEST Summit 2024?

I hope to convey that the INNVEST Summit is not just a place to listen but a place to engage, collaborate, and act. This year’s event is about creating meaningful connections, learning from real-world success stories, and identifying opportunities for growth and innovation. We want attendees to leave feeling inspired and equipped to drive change in their sectors.

We are committed to shaping regional economic growth by driving innovation in key sectors, while also empowering youth and fostering cross-border partnerships, supporting inclusive economies where individuals, businesses, and communities can thrive.

2. How can participants, especially those attending for the first time, maximize their experience at this year’s event?

To maximize their experience, I encourage participants to be proactive—attend workshops, network with speakers and fellow attendees, and take part in discussions. The summit is designed to be interactive, so the more you engage, the more value you will gain. For first-timers, this is a unique opportunity to immerse yourself in an environment that thrives on collaboration and innovation.