Innovation & Technology

Hungarian companies have won almost HUF 3.7 billion for digital development

Hungarian companies will use the funds on digitalization to protect and create new jobs.

Tamás Schanda, Deputy Minister of Innovation and Technology, reported that the coronavirus epidemic has also shown that businesses with good digital capabilities are better able to adapt to challenges, meaning they can stay productive even in difficult situations.

Hungarian micro, small and medium-sized enterprises and startups have recognized the benefits of participating in the Digital Welfare Capital Program, and they have already won about HUF 3.7 billion in support in just over a year since the tender was announced, Schanda said.

The aim of the program, with a budget of about HUF 8 billion, is to support Hungarian SMEs and startups that implement digital developments with high growth potential. So far, nearly HUF 1.5 billion has already been paid to winning applicants. Another HUF 400 million will be allocated until the end of 2020, while HUF 1.8 billion will be allocated to companies in 2021. 

Participating companies can apply for a capital investment of at least HUF 10 million and at most HUF 500 million. The capital injection is available to companies that carry out digital developments.

For example, companies that have so far won funding are developing a personal diabetes assistant app, a no-contact entry system for employees or hotel guests, and an energy app that offers a more cost-effective and greener alternative for office-building operators using demand-side regulation. 

More information about the Digital Welfare Capital Program can be found at toke.digitalisjoletprogram.hu.

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