Innovation Fund
The purpose of the fund is to serve as an incentive for SMEs to audit their innovation and technology needs, identify technology suppliers and partners in other countries, assist and facilitate promotion and licensing or patenting SME innovations, enabling the beneficiary SMEs to achieve more than they could achieve by their own means.
The innovation fund is financed by the state budget and was established in 2012. The fund provides assistance in the form of direct grants to micro, small and medium enterprises. The scheme covers 50% of eligible costs and up to 400,000 per project, while the rest is financed by the grantee (in this case the Albanian enterprise).
Payment of the obtained fund is made 50% at the beginning of the project and 50% at the end of it, against the invoices which certify the expenses incurred which will be submitted at the end of the project.
Only 1 project can be funded for each enterprise in one year.
For more information see the link: http://aida.gov.al/fondi-i-inovacionit/