Co-financed grants for establishment, operation and investments in business technology accelerators

Goals

The purpose of this Instrument is to provide financial support for the establishment, operation and investment of business-technological accelerators in accordance with the provisions of the Law on Innovation Activity. Business-technology accelerators (hereinafter referred to as “accelerators”) are expected to play a key role in the national innovation system by providing resources that will contribute to the accelerated and sustainable growth and development of start-ups.

Support, through this Instrument, will be provided for the establishment (optional) and operation of the accelerator, the implementation of the pre-investment program and investments. Accelerators will provide services to start-ups, which include: office space (optional) and administrative support, training, consulting and / or mentoring, access to business support resources, and financial investments. The newly established start-ups that use the services of the accelerator acquire the status of users of the business-technological accelerator (hereinafter: “users of the accelerator”).

Through this Instrument, the Fund for Innovation and Technological Development (hereinafter: the “Fund”) provides funding up to 75% (seventy five percent) of the total project budget, for a maximum amount of 500,000.00 (five hundred thousand) euros for operational costs (mostly in phase 1 and some in phases 2 and I) and investments (in phases 2 and I). The remaining amount of the total project budget should be provided by the applicant (s). Funds received from the Fund on any other basis or any other form of state aid are not eligible as co-financing for the applicant.

Eligibility criterion

Entities eligible for financing under this Instrument are legal entities that provide services to start-ups, such as: office space (optional) and administrative support, training, counseling and / or mentoring, access to business support resources, as well as financial investments (hereinafter: “accelerator services”).

Such entity shall meet the following eligibility criteria:

• to be a legal entity registered in the Central Register of the Republic of Macedonia, in accordance with the Law on Trade Companies or the Law on Associations and Foundations
• to be in the majority Macedonian ownership (50.1% or more) – for companies, or the majority of founders (50.1% or more) should be citizens of the Republic of Macedonia – for associations and foundations.
• to have an ownership / founding structure composed of: natural person (s); and / or legal entity (s) established as a trade company, association or foundation, registered in the Central Register of the Republic of Macedonia, in accordance with the Law on Trade Companies or the Law on Associations and Foundations; and / or unit (s) of local self-government in the Republic of Macedonia (to have up to 30% ownership share in the accelerator); and / or higher education (s) or scientific (s) and research institution (s) (to have up to 30% ownership stake in the accelerator); and / or the Republic of Macedonia (to have up to 30% ownership share in the accelerator).

In case of public-private partnership, the provisions of the Law on State Aid and the Law on Concessions and Public-Private Partnership apply.

The grant agreement is signed between the Fund, on the one hand, and the accelerator, on the other.