The Fund for Innovation and Technology Development today announced the public call Start-up 4, with which a total of 2 million euros of non-refundable funds are made available to support the Macedonian startup ecosystem.
The public call “Start-up 4” is the fourth such call, which provides facilitated application conditions and facilitated financial access for start-ups and spin-off companies. The goal is to encourage innovation in companies and the realization of their business ideas. The 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 a confirmed concept to the pre-commercial (pre-market) phase.
“Investing in startups is a long-term investment that has positive effects on the economy as a whole. But the support that startups need is crucial to being able to successfully realize their vision. We are aware that access to finance is the biggest problem faced by Macedonian startup companies, and in this part FITD through the public call Startup 4, we give them maximum support for their faster development, facilitated access to finance and access to global markets. In the FITD portfolio, over 50% are startup companies and I am sure that the future belongs to them” said Festim Halili, director of the Fund for Innovation and Technology Development.
Halili stressed that the funds received from the call are non-refundable, which gives Macedonian startup companies a chance to turn their idea into a successful business project. From the total budget of the call, the Fund will provide 40,000 euros (up to 90%) of the total budget of the company project up to three years of existence, ie up to 60,000 euros (85%) of the total budget of the company project with over 3, and less than 6 years of existence. The remaining amount of 10% or 15% of the total project budget is provided by the applicant.
A team consisting of a maximum of five members – individuals can apply for this call. In that case, the Applicant is obliged within 30 calendar days after receiving the Notification for selection of the project proposal, to establish a company in which at least 51% of the team members will appear as founders.
Regarding the activities that will be approved for financing, activities for research and development, development of pilot lines, product or service, testing and validation activities, testing activities and others will be supported. Eligible costs will be considered: gross salaries for persons who are or will be employed by the user, purchase and / or rental of equipment and consumables for research and development, as well as subcontracted research and development services.
The public call “Start-up 4” is open until August 8, 2022, until 14:00 and all project documentation and how to apply are available on the website: https://fitr.mk/startapuvaj4/