UNDP announces selected participants for the BOOST: Urban Future Finance

The United Nations Development Programme (UNDP) in Europe and Central Asia, in partnership with SocialTech Lab, announced the selection of 19 innovative finance solutions for the BOOST: Urban Future Finance acceleration programme. The participants will receive comprehensive support to develop and scale their initiatives to drive urban transformation across the Western Balkans. 

Following a rigorous evaluation process, the selected participants represent a diverse innovation ecosystem, including startups (37%), micro, small and medium-sized enterprises (32%), municipalities (16%), non-profits (11%), and academic institutions (5%). The geographic distribution spans across Serbia (21%), North Macedonia (21%), Montenegro (21%), Kosovo¹ (16%), Albania (16%), and the region (5%). 

The selected participants bring forward a remarkable range of innovative solutions in the following areas: 

• Citizen engagement & governance: City & Me, Muqa, and QX are pioneering new approaches to participatory urban decision-making, budgeting, and community data management, while Cities for Humanity will take part with an initiative on citizen-driven urban planning. 

• Sustainable energy: Solarise and Sun Energy are advancing clean energy adoption through innovative solar solutions for communities and public transport. 

• Smart city solutions: Next Gen Networks and Peasy are developing IoT-powered services to optimize urban services and parking management. 

• Environmental innovation: Batica and Veles are introducing novel approaches to sustainable delivery systems and carbon credit trading, while the City of Skopje proposed new urban greening practices. 

• Urban agriculture: Biotech Agriculture and Intelligent Indoor Farm are revolutionizing urban farming through sustainable practices and aeroponic technology. 

• Education & innovation: Kolegji Nderkomberat per Biznes dhe Teknologji UBT and N’Zon Creative Industries are creating sustainable spaces for education and entrepreneurship. 

• Cultural heritage: Montenegrin Heritage Hub is creating digital platforms to connect artists, tourists, and local communities. 

• Financial & urban services: Presto, 3D World, and Smart Condo Startup are streamlining financial services, information sharing, and utility management. 

The selected participants are at various stages of development, with 42% at the prototype stage, 32% at the idea stage, and others ranging from MVP to commercial deployment. This diversity in maturity stages promises rich peer-to-peer learning opportunities throughout the programme. 

“The selected participants represent the incredible innovation potential of the Western Balkans region,” says Ievgen Kylymnyk, Regional Project Manager, UNDP. “Through this acceleration programme, we aim to provide these changemakers with the tools, networks, and expertise they need to scale their solutions and create lasting impact in urban development.” 

The six-month acceleration journey will begin in November 2024 with a four-week BOOSTCamp, including intensive training sessions and tailored mentorship. The programme will culminate in a Demo Day in April 2025, where participants will present their developed solutions to potential investors and partners. 

The BOOST: Urban Future Finance programme is part of the Slovak Transformation Fund, financed by the Ministry of Finance of the Slovak Republic, and aims to reimagine urban development in the Western Balkans and advance innovative finance solutions.

¹References to Kosovo shall be understood to be in the context of United Nations Security Council resolution 1244 (1999)