The Fund for Innovation and Technology Development today announced the public call “Start-up 5”, with which a total of 2 million euros of non-refundable financial resources, are available to support the Macedonian startup eco system.
The public call “Start-up 5” is the fifth such call in a row, which provides easier conditions for application and easier financial access for start-up and spin-off companies. The goal is to encourage innovation among newly founded companies by providing the necessary financial support for activities related to research and development. Support through this call is intended for projects that have at least a “confirmed concept” and a clear ambition of commercialization, as well as projects that are in the phase of confirmed concept to pre-commercial (pre-market) phase.
The funds received in this call are non-refundable, with which Macedonian startup companies receive huge support and the opportunity to introduce innovations in their operations, improve their product / service and achieve success in the market. From the total budget of the call, the Fund will provide 40,000 euros (up to 90%) of the total budget of a project for commercial companies up to three years of existence, that is, up to 60,000 euros (85%) of the total budget of a project for commercial companies with over 3, and less than 6 years of existence. The remaining amount of 10% or 15% of the total budget for the project is provided by the applicant.
A team consisting of a maximum of five members (natural persons) can also apply to this call. In this case, the Applicant is obliged within 30 calendar days after receiving the Notification for the selection of the project proposal, to establish a trading company in which at least 51% of the team members will appear as founders.
Regarding the activities that will be approved for funding, research and development activities, development of pilot lines, product or service, testing and validation activities, testing activities and others will be supported. Eligible expenses will be considered: gross salaries for persons who are or will be employed by the beneficiary, purchase and/or rental of equipment and consumables for research and development, as well as subcontracted services for research and development.
Regarding the evaluation process, all received project applications will go through two stages, i.e. the pre-selection stage, which is carried out by three domestic experts, two experts from the areas that correspond to the evaluation criteria and one person from the areas which corresponds to the project proposal. The selection phase is carried out by the Committee for Approval of Investment, which makes the final decision on financing through this Instrument.
The public call “Start-up 5” is open until June 15, 2023, until 2:00 p.m. All project documentation and the application method are available on the website: https://fitr.mk/startapuvaj5/