Slovak Challenge Fund empowered Slovak entrepreneurs to expand their activities, collaborate with local partners, and create a lasting impact in 4 developing countries.
The Slovak Challenge Fund (SCF) played a pivotal role in supporting Slovak entrepreneurs in implementing innovative solutions to address development challenges abroad. It supported projects ranging from improving water and waste management to enhancing agricultural productivity and digital governance.
Established in 2019 as part of the ‘UNDP-Slovakia Partnership: Effective Development Cooperation Solutions for the SDGs,’ the initiative was financed by the Ministry of Foreign and European Affairs of the Slovak Republic and implemented by UNDP’s Istanbul Regional Hub.
Over its duration, SCF supported 16 projects – eight in Moldova, three in North Macedonia, three in Serbia, and two in Bosnia and Herzegovina. “Through Slovak Challenge Fund, we did not just fund projects; we invested in solutions that have the potential to scale, replicate, and transform communities,” says Maroš Mitrík, director of the Department for Development Cooperation and Humanitarian Aid at the Ministry of Foreign and European Affairs of the Slovak Republic.
A platform for innovation and growth
SCF searched for innovative solutions that generate improvement and value, especially by introducing new methods, ideas, or products in partner countries. Some of the supported projects also used the opportunity to test their solutions in new conditions, expanding their potential for wider application.
SCF followed the global trend of mobilizing diverse financial resources—public and private, local and international—to maximize the impact of development efforts. The initiative provided almost USD 600,000 in funding, with an additional over USD 260,000 mobilized through co-financing from innovators. Individual projects received between USD 20,000 and 40,000 to implement solutions across key sectors.
Through financial support, the Slovak Challenge Fund enabled 15 Slovak private sector entities to expand their activities internationally while partnering with local stakeholders in Moldova, North Macedonia, Serbia, and Bosnia and Herzegovina. By fostering this cross-border collaboration, SCF ensured that innovation, sustainability, and economic development go hand in hand.
Impact and achievements
SCF brought about significant results. Examples include the implementation of an effective, user-friendly digital information system at the Museum of Genocide in Sarajevo, support for Moldova’s tourism industry by enabling the use of green, solar energy, or promoting agrotourism. Additionally, it enabled testing of various technologies, including water treatment, soil decontamination, and protection of beehives from certain parasites.
The Slovak Challenge Fund has been concluded for now. Through four years of its operation, SCF reinforced Slovakia’s commitment to international development, proving that innovation, sustainability, and cross-border collaboration can drive meaningful progress.
While its activities have ended, the initiative has left a lasting impact, having facilitated innovative solutions that contributed to sustainable development in partner countries.
“Although the program is coming to an end, the solutions it supported will continue to create positive change in the communities they served,” concludes Berna Bayazit Baran, Partnerships Development Specialist from the UNDP.
List of projects implemented within SCF
- Innovative technologies in the fight against global drought (Serbia, 2023)
- AI-driven Virtual Power Plant feasibility (Serbia, 2023)
- Bio-decontamination of heavy metals pollution by microalgae (Bosnia and Herzegovina, 2023)
- Smart Museum in Sarajevo (Bosnia and Herzegovina, 2023)
- Innovative Bee Breeding System (Serbia, 2023)
- Digital Development of Organic Agro-tourism in North Moldova (Moldova, 2022)
- Integrated solar roofing system on the flagship touristic sustainability complex (Moldova, 2022)
- Sensitive water monitoring with PickMol (Moldova, 2021)
- Autonomous four-legged robot Artaban (Moldova, 2021)
- SPEAR Hydro (Moldova, 2021)
- Duugy – Research and Application of Mushroom in Ecology (Moldova, 2021)
- Smart City Platform in Chisinau (Moldova, 2020)
- Greener Mobility: Electromobility Know-How Transfer (North Macedonia, 2020)
- Utilization of Solar Energy in a Municipality of Karpoš (North Macedonia, 2020)
- Organic Agriculture for Tourism Destination Development (Moldova, 2020)
- Piloting of Point of Care Diagnosis Solution S-Case for Improvement of Primary Care and Remote Monitoring of Patients (North Macedonia, 2020)
Details for each project can be found on https://slovakchallengefund.org/projects/.
In partnership with the United Nations Development Programme
