The Startup Ecosystem of North Macedonia

The ICT sector in North Macedonia is very active in international markets. Many talented workers are contracting remotely for global companies, while several international delivery centers and some local companies export their production as the regional market is rather small. Other startups develop in sectors like food, fashion, or machinery. Despite the challenges, North Macedonia offers startup opportunities in various sectors.

The main challenge of the country is brain drain. The 30 year result of North Macedonia joining the EU has been a decrease in motivation, as entrepreneurial spirits tend to emigrate to more welcoming ecosystems. Many of the most talented Macedonians are leaving the country in search of better opportunities elsewhere. To address this issue, North Macedonia startup support should be prioritized by the government.

To avoid brain drain, the government should allocate more resources to the local tech ecosystem and make sure those resources are available in a transparent way. Several university backed organizations, such as BAU by UKIM, and other international organizations support Macedonian startups and encourage staying in the country. North Macedonia startup resources are essential for creating a thriving ecosystem.

Accelerators like Accelerate2030 and Seavus Accelerator support Macedonian entrepreneurs with mentorship and training. We commend the work of SwissEP for its support of local startups through resources and services aimed at international growth. As well, the EU4EG program provides startup support funding as well as capacity building of support organizations. North Macedonia startup success depends on access to these resources.

Another step the government can take is to encourage major financial services such as Paypal to operate in the country, allowing entrepreneurs to perform the basic transactions needed to operate an international startup. North Macedonia startup strategy should include initiatives to attract more international financial services to the country.