Mission and goals

Mission and goals

The mission of the Fund for Innovations and Technology Development is encouragement and support to micro,small and medium-sized enterprises for achieving accelerated technological development, based on knowledge transfer, research on development and innovations that contribute to new employments and economic growth and development,while improving the business environment for increasing the competitive capabilities of the companies.

Our priorities and goals are:

  • Improved access to financial support for innovation and technological development;
  • Promotion and encouragement of innovations in North Macedonia

The special focus of the Fund’s operations is on:

(1) Co-funding micro,small and medium-sized enterpises, registered in Republic of North Macedonia, in order to encourage innovation activity, implementation of innovative solutions and innovative processes, introduction of innovation and technology transfer in companies, as well as support for companies with a high growth potential.

(2) Funding newly founded micro,small and medium-sized enterpises, registered in Republic of North Macedonia,foundations and accelerators, in order to encourage innovation with companies, applying the results of scientific research to applied or commercial activities, through the establishment of "spin-off" companies.

(3) Achieving a long-term positive contribution to the development of the national economy, improving competitiveness through technological and operational improvements and providing new employments; support for the establishment of business accelerators, entities for providing infrastructural support to the innovation activity, in order to accelerate entrepreneurship by supporting individuals who want to start a business, as well as to already established enterprises in their initial phase (with a maximum of 6 years of existence) by providing educational, logistical and financial assistance.