Innovations support

The portfolio of projects supported by the Slovak Ministry of Finance also contains the Slovak Transformation Fund, a project serving as a catalyst regionally to create local level urban transformation models, supporting ecosystems of innovators and identifying pathways for leveraging innovative financial mechanisms. Its predecessor, Transformative Governance and Finance Facility, was introduced in 2015 and has engaged UNDP Country Offices and governments in the region in experimentation, sensemaking and knowledge sharing. It has piloted and implemented new projects, initiatives and ideas, inter alia:

  • Ministry of Data – an open data challenge in the Western Balkans and Black Sea regions which offers a platform for citizens to present creative data-driven tools and solutions to community issues,
  • Alternative Finance Lab – a mechanism for exploring and tapping into new financial technologies and mechanisms to leverage investments for the achievement of the Sustainable Development Goals,
  • BOOST Impact Accelerator – an online acceleration program that amplifies, bridges and connects innovators across the region,
  • and City Experiment Fund – a fund that accelerates urban system transformation through deployment of a portfolio approach at the city level.