BUSINESS INCUBATOR TETOVO – DESCRIPTION

Legal status

The establishment of the Business Incubator in the city of Tetovo (Polog Region), Macedonia, was firstly initiated in 2009 by the local NGO – Community Development Institute (CDI) (www.irz.org.mk), as an important need of the local and regional entrepreneurs and SMEs.

Business Incubator Tetovo (BIT) will operate formally as “Biznis Inkubator Tetovo”, as a part of CDI seated in the city of Tetovo, Macedonia.

The current legal organizational form of CDI is: Non-governmental organization (NGO)  

The equity ratio in total of BIT capital assets will be 100% CDI capital assets – full total capital.

Field of action

The dominant activity of the Business Incubator Tetovo (BIT) will be:

  • Consulting and Management
  • Investment

This will include:

  • preparation and expert assistance in the realization of domestic and foreign investing in small and medium enterprises;
  • preparation and expert assistance for the needs of work improvement and development of innovation and invention activities, as well as related application in small and medium enterprises.
  • Direct investment

Organizational concept of the Business Incubator

Organizational concept of the BIT has been designed in such a way as to ensure optimal balance of resources and activities with regard to provision of continual coordination with key stakeholders and parties that are important for encouraging and recovery of the local economic development.

Organizational concept of the Business Incubator Tetovo will be implemented through its operative bodies, namely:

  • The founder organization – CDI;
  • The BIT Advisory Board;
  • The BIT Management and Employee Structure.