SME Innovation Fund

North Macedonia is a small country north of Greece which was part of the original of Yugoslavia. It’s a poor country by European standards and has a massive need for funding for small businesses which in future will be the engine of the local economy. It has, as an objective, accession to the European Union and is wanting to reduce the obstacles to entry into the European system both from a financial fiscal and economic point of view. The innovation fund that we are working with supports, on a concessional basis, small businesses to both innovate and provide technologies for their businesses which will reduce carbon emissions and have a positive effect on the local economy from the jobs and development point of view. We have an enormous amount of applications. Grant amounts are, on average, relatively small but we believe that this is the best way to stimulate the local economy in order to produce the larger successful innovative businesses in Northern Macedonia for the future.