Business infrastructureEconomy & Policy

Another HUF 100 billion available to businesses

The Technology Shift support program continues with another HUF 100 billion.

László György, State Secretary for Economic Strategy and Regulation, announced in a statement on Friday that the aim of the support is to increase the productivity of micro, small and medium-sized enterprises in the manufacturing and service sectors, and to support technological and organizational innovation in the least-developed regions. 

In the first round of the Technology Shift support program, more than 1,700 enterprises received more than HUF 210 billion in support under GINOP Plus, according to MTI. 

Negotiations with the European Commission on the adoption of the new period’s Operational Programmes are ongoing. However, the state of the Hungarian economy and the strong and stable budget allow for the pre-financing of new applications from domestic sources, thus supporting businesses’ investment intentions and the rapid re-launch of the economy.

Under the draft call for proposals just published, aid of between HUF 10 million and HUF 150.5 million per company will be granted on a conditional non-repayable basis. The maximum aid intensity is 70 percent. Beneficiaries are micro, small and medium-sized enterprises with at least 3 employees and at least 1 year of business activity. Companies with double-entry bookkeeping, sole proprietorships with double-entry bookkeeping and sole proprietorships that are not subject to small tax (KATA) are eligible to apply. 

The developments to be supported under the application must be located in the four least-developed regions (Southern Transdanubia, Northern Hungary, Northern Great Plain, Southern Great Plain) or in municipalities outside the least-developed regions, which are classified as Free Enterprise Zones. 

Eligible activities include technology development, e.g., the development of infocommunications technology and the use of business cloud services, as well as infrastructure and real estate investments, consultancy and training services, and the use of renewable energy technologies, the ministry added.

Applications can be submitted starting January 17, 2022. More information is available at  the Entrepreneurship Information Portal (www.vali.hu). 

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