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Economy & Policy

Another HUF 20 billion available for domestic innovations

Tamás Schanda, Parliamentary and Strategic Secretary of State and Deputy Minister at the Ministry of Innovation and Technology, announced the new funds.

The PIACI KFI tender aims to create jobs and strengthen Hungary’s competitiveness. Businesses and research/knowledge institutes can take advantage of the new opportunity to develop new products, services and technologies that can be exported.

The original budget of the tender announced this summer was increased significantly due to the high interest. After 152 projects received support, additional funding of close to HUF 20 billion was provided, taking the total budget for the first round to HUF 59 billion.

The current new round will provide an additional HUF 20 billion to encourage innovation in Hungarian enterprises. The ministry wishes to support projects that are created through professional-based collaborations, involving domestic and international research institutes, universities, business partners and companies. 

The newly announced budget seeks to create and develop new products, services and technologies that will increase the competitiveness of the Hungarian economy and that can be exported as well as result in the creation of new jobs.

Applications will take place in two stages: First, project proposals must be submitted between October 14 and 22, followed by detailed grant applications by January 29, 2021. 

Those interested can apply for sub-program A (standalone application for the amount of HUF 100-400 million,) or sub-program B (consortium application for the amount of HUF 400-800 million).

Source
www.vg.hu
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