FITD with a new public call for co-financed grants for technological development for accelerated economic growth - a total of 6 million euros to support domestic companies

The Fund for Innovation and Technology Development today announced the first public call for this year, which makes a total of 6 million euros available to support domestic companies, through the public call for co-financed grants for micro, small and medium companies for technological development and accelerated economic growth.

The purpose of this public call is to support domestic companies to create conditions for overcoming the consequences of the economic crisis, to achieve accelerated growth, to increase competitiveness in international markets and resistance to pandemic and climate crises, by introducing new, innovative, advanced, “green” and digital technologies for their transformation.

In terms of eligible financing activities we support with this public call, the list is not complete and it is available on the Fund’s website, some of them are: procurement and introduction of new, innovative, advanced, green and digital technologies for the transformation of production and business processes, development and introduction of new more ecological processes and standards for production and work, improvement of productivity and efficiency of production and / or business processes.

“The fund continues to be a leading institution that maximally supports all micro, small, medium, start-up and spin-off companies in the country, as well as a real partner in the whole process from starting a business idea to starting your own business. So far, the Fund has supported over 800 projects with a total volume of over 100 million euros of joint investments. But the Fund does not stop here, we continue to work actively to create favorable conditions for the development of successful entrepreneurial stories that will be a true example and pride to our country” said Festim Halili, director of the Fund for Innovation and Technology Development.

From the total budget available for this call, micro companies can apply for support up to 2.5 million denars, and small ones up to 5 million denars, ie up to 70% of the total budget value for investment projects. Medium-sized companies can receive support of up to 10 million denars or up to 60% of the project value. Eligible costs will be gross salaries for employees, costs for technical support, research, development, digitalization, procurement and rental of equipment, software, ICT tools or raw materials, but also costs related to the implementation of the company’s technology development plan.

The return of the financial support granted by the Fund is made at a rate of 7.5% of the operating profit of the beneficiary, until a return of 105% of the amount paid by the Fund or for a period of 5 years after the completion of the project, in depending on which condition is first met.

Part of the conditions that the applicant must meet are: the applicant is not affiliated with another company or private health institution whose annual income exceeds 10 million euros and the average number of employees does not exceed 250 from previous fiscal years, no due and unpaid obligations with a delay of more than 90 days to the financial institutions, as of February 2020 and to meet the requirements of the Law on State Aid Control and for the same project not to have received financial assistance from another state institution.

When evaluating the projects, the criterion of impact on economic development (45 points) brings the highest number of points, then the technological progress and degree of digitalization (35 points) and the quality of the project and the capacity of the project team will be evaluated with 10 points each. Preference in project evaluation will be given to companies that have women managers and / or owners, projects from less developed regions and companies that have included at least one assistant professor, associate or full professor and / or doctoral student in the project team who will be involved in the project. The goal is to encourage women entrepreneurship, balanced regional development and incentives for greater cooperation with representatives from higher education institutions.

The public call for co-financed grants to micro and small companies for technological development for accelerated economic growth is open until 15.06.2022, and companies can apply electronically. More information about the call is available at:забрзан-раст-2.