HUF 10 billion tender supports fashion and design companies

The fashion and design industry employs almost 100,000 people and is one of the sectors with the largest export capacity in Hungary.

László György, State Secretary for Economic Strategy and Regulation at the Ministry of Innovation and Technology (ITM), emphasized that micro, small and medium-sized enterprises can apply for the call; the tender seeks to support developments that help companies adapt to modern business and production challenges.

A total of HUF 3 billion is available in the central region and HUF 7 billion in the other regions of the country.

The amount of support for a given project can be between HUF 5 million and HUF 150 million and can be used for the purchase of new equipment, machinery, production licenses, know-how and intangible assets, real estate development, information technology development, industrial property consulting, marketing and consulting, and a portion of labor costs. 

György emphasized that the rate of the advance payment is 100 percent, so winning recipients will immediately receive their funds. The aid is conditionally repayable, meaning it may be non-refundable for companies that comply with all conditions in the call.

The secretary of state emphasized that the most important task due to the coronavirus epidemic remains the protection of people’s lives and health, but at the same time, the Hungarian economy must continue to function and grow.

Recalling the government’s promise to create as many jobs as the virus destroys, he said that the economic action plan has been successful in the short term. The government will continue to support those sectors that contribute the most to the development of the national economy and the creation of high value-added jobs, György indicated. 

Zsófia Bata-Jakab, CEO of the Hungarian Fashion & Design Agency, said that there are almost 3,000 active exporting companies in the Hungarian fashion and design industry, and 81 percent of the sector’s total revenues come from exports.

Candidates can register for pre-qualification for the tender starting on November 16.

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