It is unfortunate that the opposition, instead of motivating young people to open successful startups and realize their dreams, inserts politics in a sphere that is completely free from political influence.
The public call “Start-up 3” is intended for co-financed grants for newly established start-up and spin-off companies, which by law are companies not older than 6 years. Support through this call is intended for projects that have at least a “proof of concept” and a clear ambition for commercialization, as well as projects that are in the phase of a confirmed concept to the pre-commercial (pre-market) phase.
FITD is the only institution in the country that monitors every euro invested in each company. The monitoring process is led by as many as 5 international companies. As we have informed many times, none of the FITD employees participate in the process of selecting the companies that will receive funding.
All registered companies go through a pre-selection process conducted by 3 experts. Each company that will have over 51 points, passes to the final selection and the final selection is made by the Investment Approval Committee, composed of 5 world experts. Marvin Liao, President of CAI, is a CEO of Yahoo and has invested in over 400 startups.
FITD is the only institution in the country that has ISO: 31007 certification for fighting corruption.
With the new number of 70 startups approved through the tool “Start-up 3”, the number of supported startups in the entire portfolio of FITD reached 393 companies with joint investments of as much as 32 million euros. According to the analysis we made, for startups in the period from one year before using the finances, to 2 years after their use, the average income has increased by 197%. In the same time frame, the average expenditures have increased by 220%.
Despite the lies and manipulations of the opposition, all analyzes show that FITD policies are effective. According to the results obtained from the impact evaluation of “Finance Think”, which says that out of a total of 12 indicators for the efficiency of state aid, FITD has effective support in 7 indicators, namely: sales, technology, productivity, company profits, liquidity and market share.
According to the research of Startup Macedonia, as much as 70% of Macedonian startups are funded by FITD and FITD is a key institution for financial support in the ecosystem.
FITD’s finances are invested in the right place in the companies with the greatest business potential.