Empowering the future: A strategic dialogue on emerging technologies and impact entrepreneurship in the Western Balkans

Fostering collaborative models to advance emerging technologies and drive structural economic transformation in the Western Balkans was at the heart of the strategic dialogue organized by the United Nations Development Programme (UNDP), in Brussels on January 21, 2025.

Western Balkan economies generally lag in developing and adopting emerging technologies, with uneven investments in developing digital ecosystems. To increase the region’s competitiveness, it is crucial to build capabilities supporting growth and investments in technology-based sectors, with high potential for the creation of quality jobs. Persistent outmigration of young talent hinders the region’s growth potential, pushing it further behind the EU.  However, the new EU growth plan and accelerated investment in frontier technologies, along with industry 5.0 principles, could create new space for human capital development and regenerate the growth potential of the Western Balkans.

30 representatives from the UNDP, the European Commission, science and tech institutions such as Science Technology Park Belgrade and Cotrugli Business School, Web3/Web4 business support organizations such as the Blockchain for Good Alliance, BlackVogel, and World Metaverse Council, and major blockchain foundations – Stellar Development Foundation, Ethereum Foundation, Solana Labs, Algorand Foundation, Cardano Foundation, Celo, and Metis joined the event, which focused on building sustainable technology ecosystems to support digital innovation, fostering partnerships among institutions, emerging tech companies, and foundations, and addressing gaps in human capital and digital skills to enhance regional competitiveness in Western Balkans. 

Building a collaborative framework for sustainable development 

The dialogue explored the potential for building sustainable emerging technology ecosystems via a collaborative platform. Participants highlighted the importance of empowering local talent through innovative approaches to skilling and impact-driven entrepreneurship, connecting entrepreneurs to investors, and fostering business and learning models based on emerging technologies. Tax incentives and strategic funding mechanisms were also identified as tools to attract global talent and boost local entrepreneurial ecosystems.

The dialogue further explored the potential of emerging technologies (AI, blockchain, and metaverse) to create new value in regional economies and ecosystems. Participants identified actionable strategies emphasizing the importance of collaborative initiatives and joint efforts. The discussion concluded that building strong partnerships between institutions like UNDP and blockchain companies is essential – leveraging UNDP’s expertise in development challenges alongside the technical capabilities of blockchain firms to pilot and scale innovative solutions.

One significant highlight was the launch of a UNDP Blockchain Advisory Board designed to strengthen collaboration between UN agencies and blockchain and crypto organizations and companies. The Advisory Board seeks to provide guidance on addressing development challenges with innovative blockchain solutions, promote open-source and sustainable approaches, and act as a bridge for scaling impactful solutions in the region and beyond.