IT Projects Approved by the Fund for Innovations

IT Industry Dominates Among the Projects Approved by the Fund for Innovations of Macedonia


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Increasing the competitiveness lead by the technology development and creating added value are the main goals of the instruments of the third pillar, part of the Plan for Economic Growth by the Fund for Innovations and Technology Development. Judging by the huge interest of the companies in the first call, at which more than 200 companies responded, it can be concluded that the Macedonian economy does indeed need a financial injection.

With 30% personal participation, and 70% co-financed grant from the budget, 64 companies from various industries will develop innovative projects for the purpose of creating products and services, which above all, have market and export capacity.

The other 15% of the companies secured co-financed grants for technology development, in which they participate with 70%, and the government finances the rest 30%. The total financial input with 70 companies in total of the Macedonian economy amounts to 10.5 million euros.

This was only the first investment wave of the first call within the third pillar. The second wave of the call is upcoming, and it will cover 80 companies and additional budget of the government.

What is really interesting about this investment wave is the proportion of various industry participants. Among the approved projects, the ones that clearly dominate are the projects from the IT industry, participating with more than one-fourth (25%). However, other industries that are also worth mentioning are the technology industry with seven projects, the agriculture and energy industry with five projects, and the health, textile and construction industry with four projects each.

The highest amount of an approved project is 45,116,400 denars. The average salary for the people that will be hired for the investment projects will be 47,000 denars.

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