Projects Library

Improved BSO’s services to MSME’s


USAID Business Ecosystem Project


February 2019 – January 2021


108.678 USD

Implementing Partners

Foundation CEED Macedonia – sole applicant


North Macedonia




Project Summary:

The project works on the issue of access to finance for start-ups in Macedonia, by addressing it in a comprehensive way. The project involves parties in the process of business angels’ investments (business angels/investors, start-ups, and BSOs/accelerators) and, through its activities, it addresses the needs of all involved sides.

Namely, the project works on increasing the number of angels’ investments in start-ups, by increasing the number of business angels, raising awareness on the topic, building BA’s capacities and stimulating new investments (facilitating the process). It works on raising awareness of start-up community about this opportunity, as well as on building start-ups’ investment readiness (thus increasing the chances for more investments).

Ultimately, it works on building organization’s capacities to provide high level business support to start-ups and business angels, through systemizing the approach, learning new skills and developing new services.


The proposed project has three main objectives:

  • Improve investment readiness of start-ups in Macedonian.
  • Increase number of potential investors in CEED Business Angels (BA) Club, with raised capacities to make smart investments.
  • Increase opportunities for access to finance for start-ups through facilitating contacts and cooperation between start-ups and angel investors.


  • Improved quality of services and membership approach provided by the Business Angels Club,
  • Increased number of investors that will join the club as business angels,
  • Built capacities of the business angels to make more (successful) investments in Macedonian start-ups,
  • Increased number of investment ready start-ups,
  • Raised awareness on the importance of BAs and their role in the business eco-system,
  • Built and enhanced CEED’s capacities and know-how to provide better business support services, especially to business angels and start-ups.