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FITD: 123 companies enter final phase of public call on rapid economic recovery

A total of 123 domestic companies have been chosen in the final selection phase of first cycle of the public call on rapid economic recovery from COVID-19 issued by the Fund for Innovation and Technological Development (FITD).

Skopje, 14 August 2020 (MIA) – A total of 123 domestic companies have been chosen in the final selection phase of first cycle of the public call on rapid economic recovery from COVID-19 issued by the Fund for Innovation and Technological Development (FITD).

166 companies applied to the public call, which was opened on May 29 and lasted until July 3.

The total investment cycle is Mden 237 million. Of these, the requested amount from FITD is Mden 139 million, while Mden 97 million come from the companies’ own co-financing.

Of the 123 companies, 74% apply to the Fund’s open call for the first time, 17% apply for the second or more times but haven’t received any funds, while only nine percent of companies are previous beneficiaries. According to the FITD analysis, most of applicants are small (67) and micro (47) companies, as well as nine medium-sized enterprises.

Most of the submitted application refer to the sectors including health, IT, trade, mechanical engineering, creative industry, hospitality and textile industry.

Foreign experts, engaged by the Fund for Innovation and Technological Development, are included in the process of primary selection of investment plans.

The analyzes show that only the first cycle participation of companies managed or owned by women entrepreneurs is increased by 46% and the number of companies based in less developed regions has also increased.

FITD is preparing a new cycle of applying for financial support for economic recovery. For that purpose, the Fund in cooperation with the chambers of commerce submitted a survey to domestic companies to actively participate in the process with their opinions, proposals and suggestions. Survey is available to all micro, small, medium and large companies and can be found at https://docs.google.com/forms/d/e/1FAIpQLSfDmh-RNYUTSav0j6c69lajOOWHPnYBw0Lhhem8rnRPTXuTCQ/viewform

The economic recovery programme is part of the third set of government’s economic measures and is intended to support micro, small and medium enterprises (MSMEs).

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