Success Story

The Information and Communication Technologies (ICT) sector in North Macedonia follows the global trends of acceleration, innovation, and increasing employment opportunities for high-skilled profiles. Quality products launch Macedonian tech companies to foreign market expansion on a road filled with success and new clients.

IME supports ICT companies with the potential to expand and add value in the sector and has already partnered with several enterprises. The support consists of assistance in accessing new markets and links with potential clients to offer their products and services. Such companies are Aspekt, Web Factory, Intelligent Network Solutions – INS, and Pixyle to name a few.

Market expansion to Japan and Kyrgyzstan

Web Factory is a domestic business successfully operating since 2009. A self-funded company with HQ in Skopje, N. Macedonia, and a local branch in Tokyo, Japan. By utilizing IME’s Opportunity Fund Web Factory was supported to expand its market presence in Japan. Through targeted marketing activities, they promoted the ICT services to potential customers, contributing to job creation and company development. “Quality is crucial in everything we do. Having a great team of professional employees is necessary for the ideas and needs of the client to be successfully met by offering a high-quality product. Thanks to IME we now witness further market expansion in Japan.” – says a Web Factory representative.

ASPEKT is a software development and ICT consulting company delivering integrated software solutions, comprised under the Aspekt Product Suite specialized for financial industry segments. Through IME support, they mapped the market potential for Aspekt’s products in the Commonwealth of Independent States (CIS) and the Middle East & North Africa (MENA) with a thorough analysis of potentials clients. Thus, they successfully opened a brand-new office in Bishkek, Kyrgyzstan. “This new location is an important step forward in our journey as we dream bigger and set higher objectives. Growing teams like ours require new and larger workplaces with which to build new ideas and products by following the latest fintech trends.” – ASPEKT confirms.

The continued international success of ICT companies across diverse industries

Through IME support, Intelligent Network Solutions – INS, a company that creates opportunities and solves problems for customers tackling the complexities of building commercial-grade solutions, entered the United Arab Emirates market. The company was assisted in developing a software product called Automated Code Compliance Checking Engine, which improves the urban planning and construction business process, as it can review the proposed building plan against construction standards and regulations.

Moreover, Pixyle – a Shtip-based startup, was launched by a young woman who sees the potential of artificial intelligence in fashion e-retail. The received IME support boosted the development of their product – a visual search engine suitable for fashion e-shops. After signing a contract with one of the biggest sustainable fashion brands in the Netherlands, Pixyle received positive signals from the Benelux market. Needing to upgrade the product to meet the demand of fashion brands there, and increase the in-house capacity for marketing and sales, they utilized IME’s Opportunity Fund instrument. “Thanks to IME’s support, we employed three more team members to develop the product and now we offer it as an additional feature to clients. As a result of this support, we are in a better position to sustain our growth and employ new people. We are steps closer to fulfilling our mission, being well positioned in the Benelux market, and expanding to other European markets.” – concludes Pixyle founder.

In addition, IME supports the establishment of the new Expansion Launchpad – Educational and Mentoring Program of Startup Macedonia, which represents a platform for networking and connection of domestic start-ups with the German and Japanese markets.

In this way, tech companies are continuously exposed to numerous opportunities for partnerships and co-funding models driven by product development needs.