The Parliamentary Committee on Legal Affairs approved on Monday amendments to the law “On the support and development of startups”, which aim to create a unified legal framework for startups and innovation.

The Socialist Party MP Klevis Jahaj, who initiated the amendments to the law, stated that the draft law includes the measures of the EU Growth Plan for the Western Balkans, enabling financial instruments for startups and the green economy, with an expected financial benefit of Euro 9 million for Albania.

The draft law envisages facilitating the creation and development of startups through grants, co-investments, tax breaks, and intellectual property protection, while the “Startup Albania” Agency will administer and monitor the support programs.

According to data from the European Innovation Scoreboard 2024, Albania is classified as an “Emerging Innovator”, with 450 active startups, and 37% of founders are women.

The government has funded 172 startups and 23 facilitators since 2022, with a total value of Euro 10.2 million.

Meanwhile, the Deputy Minister Enkelejd Musabelliu emphasized that the legal changes aim to integrate institutional responsibilities and strengthen policy coherence for the development of innovative entrepreneurship and the country's competitiveness.