March 6 (SeeNews) - North Macedonia's Fund for Innovation and Technology Development (FITR) said on Wednesday it has launched a call to support local startups with grants worth 2 million euro ($2.2 million) in total.
The fund will support companies established in the last three years by covering some 90% of their total project costs, or up to 40,000 euro, FITR said in a statement.
Additionally, companies established three to six years ago are eligible for funding equal to 85% of the total cost of their projects, or up to 60,000 euro.
FITR will approve funding for research and development activities, development of pilot lines, product or service, testing and validation activities, activities related to the protection of intellectual property and design activities.
Candidates can apply for funding until April 15.
The government established FITR in 2013 with the aim to encourage innovation by providing additional funding sources to companies.
($ = 0.916 euro)