N. Macedonia's innovation fund to invest 2.35 mln euro in local start-ups

The fund will support a total of 84 start-ups by covering some 77% of the total costs for the implementation of projects in 15 areas, including medicine, construction, agriculture and IT technologies, the government said in a statement after the presentation of the selected start-ups.

The startups, which currently employ a total of 280 people, will hire an additional 246 workers who will receive an average salary of nearly 600 euro per month under the projects.

FITR was established in 2013 with the aim to encourage innovation by providing additional funding sources to companies.

($ = 0.8542 euro)