Skopje, 14 December 2023 (MIA) - The Fund for Innovation and Technological Development (FITD) is marking its tenth anniversary on Thursday.

To mark the tenth anniversary of FITD, as announced, the Deputy PM for Economic Affairs, Fatmir Bytyqi, the Minister of Economy, Kreshnik Bekteshi, the Fund for Innovation and Technological Development Director Festim Halili, and Chairman of the Investment Approval Committee, Marvin Liao, will address the event.

FITD was established in December 2013 with the aim of fostering innovation by providing additional funding sources for innovations, driven by the need to build a knowledge-based competitive economy.

The Fund is currently co-funding 985 projects with joint investments totaling around €118 million. A notable 43 percent of the ITDF portfolio is represented by startup companies, predominantly founded by young people. The Fund allocates around €1.5 million to support the development of three accelerators in the country: X Factor, Seavus Accelerator, and the Business Technological Accelerator at the Ss. Cyril and Methodius University in Skopje, as highlighted on the website of the FITD.

Photo: MIA archive