May 11 (SeeNews) - North Macedonia's Fund for Innovation and Technology Development, FITR, said it will provide 6 million euro ($6.3 million) in grants to local micro, small and medium-sized enterprises (MSMEs) to support their technological development and growth.
The grants will co-finance expenses such as salaries, technical support, research and development, digitalisation, purchase of equipment or software, as well as costs related to the implementation of technological development plans, FITR said in a statement on Tuesday.
Micro companies are eligible for funding of up to 2.5 million denars ($42,800/40,500 euro), small firms can apply for grants of up to 5 million denars, whereas medium-sized companies will be backed with grants of up to 10 million denars.
Companies can apply for funding until June 15.
The government established FITR in 2013 with the aim to encourage innovation by providing additional funding sources to companies.
($ = 0.9474 euro)