HUF 15 billion available for Hungarian fashion and design companies

The budget of the tender has been increased from HUF 10 billion.

László György, Secretary of State for Economic Strategy and Regulation at the Ministry of Innovation and Technology, said that the Hungarian fashion and design industry is one of the priority sectors worth strengthening.

Companies that are already competing in global markets should be supported to grow further and increase their revenues even during the coronavirus epidemic. This will help them become Hungarian multis or even regional or global players, the state secretary emphasized.

László emphasized that companies in Budapest and Pest County can also apply within the framework of the Competitive Central Hungary Operational Program (Vekop). Fashion and design companies from other regions of the country can apply under the Economic Development and Innovation Operational Program (Ginop).

In order to submit grant applications, companies must first have a pre-qualification certificate, which they can apply for from IFKA, he indicated.

In the first round of pre-qualification, more than 300 companies applied. Companies will receive notification about the issuance of their certificate by February 15, after which they can submit their application, he explained.

The second round of pre-qualification will start on January 16 and be closed on January 31. Certificates will be received by February 28, and applications can be submitted starting on March 1, György noted.

Zsófia Bata-Jakab, CEO of the Hungarian Fashion & Design Agency, said at the press conference that the sector is significant, with almost 12,000 companies operating within the industry, employing 90,000-100,000 people. Additionally, 80 percent of the sector’s total revenues comes from exports.

The coronavirus epidemic has hit the fashion and design industry hard as well. So, the tender is of special importance, as it will enable companies to gain a competitive advantage in the post-epidemic world, she said.

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