The instrument is aimed at encouraging the innovation level in newly established enterprises by providing the necessary financial support for research and development activities. The grant is expected to encourage a culture of risk taking and innovation, to provide support for the enterprises that aim to develop new or improved product, process, and/or service.
Under this instrument the Fund for Innovations and Technology Development (hereinafter referred to as: the Fund) shall provide financing of up to 85% (eighty-five percent) of the total project budget, in a maximum amount of 30,000.00 (thirty thousand) EUR.
The remaining amount of the project budget shall be provided by the Applicant.
Funds received from the Fund on any other grounds or any other form of state aid shall not be eligible as co-financing by the Applicant.
Eligible for funding under this instrument are applicants who fulfill the following criteria:
- to be a trade company established in accordance with the Law on Trade Companies and registered in the Central Registry of the Republic of Macedonia,
- the period from the establishment of the applicant to the date of submission of the project proposal to the Fund shall not have exceeded 6 (six) years
- to be a micro, small or medium sized enterprise (up to 250 employees),
- to be with majority Macedonian ownership structure (of 50,1% or more);
- to be in ownership of a physical person/s and/or micro, small or medium sized enterprises (with a Macedonian ownership structure of 50,1% or more), and/or a higher education, i.e. scientific-research institution (of up to 20% ownership in the applicant
- the annual income of the enterprise does not exceed 1,000,000.00 (one million) euros according to the financial statements for the previous two fiscal years;
- not affiliated (according to the Law on Trade Companies) with another enterprise whose total annual revenues of both enterprises exceeds 1,000,000.00 (one million) euros in the previous two fiscal years, except in case of a capital connection with a higher education, i.e. scientific-research institution,
- to not have accumulated more than 200,000.00 (two hundred thousand) EUR state aid of small importance in the last three fiscal years, including the amount requested from the Fund in accordance with the Law on State Aid Control and the Regulation on the Conditions and Procedures for Granting Aid of Minor importance (de minimis)
- to not have accumulated more than 100,000.00 (one hundred thousand) Euros state aid of minor importance for a period of three fiscal years, including the requested amount of funds from the Fund, if the enterpirise is active in the road traffic sector, in accordance with the Law on State Aid Control and the Regulation on the conditions and the procedure for granting aid of minor importance (de minimis);
- to not be in difficulty (an enterprise in difficulty is an enterprise that is unable to meet its obligations from its own resources or funds that it can obtain from its owner/ shareholders or creditors, to stop losses which without outside intervention of providers of aid, will certainly lead to short-term and long-term cessation of operations of the enterprise).
- to not be engaged in coal production