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Hungarian Multi Program: Businesses can apply for grants ranging up to HUF 2.5 billion

MFB Group's Hiventures Venture Capital Fund Manager and IFKA entered into a strategic partnership to provide more businesses with the equity needed to successfully bid for the Hungarian Multi Program.

The program now has a larger-than-ever budget of HUF 100 billion and will support micro, small and medium-sized enterprises with significant growth potential to introduce and expand cutting-edge technological solutions.

Businesses can apply for grants ranging from HUF 100 million to HUF 2.5 billion, depending on where they are located, László György, state secretary for economic strategy and regulation, said.

MTI reported the government has so far supported 59 businesses under the program, investments worth a total of HUF 14.4 billion. 

The program will be open to businesses in Central Hungary, with the exception of Budapest. 

The conditional grant may cover up to 50 percent of the project budget, meaning that companies applying for the grant must finance at least half of the costs themselves.

The institutional capital provided by Hiventures can be combined well with the state support, CEO of Hiventures Bence Katona said.

As part of the partnership, the venture capital fund manager will now provide tailor-made financing solutions to applicants or companies that have already obtained a pre-qualification certificate.

In addition to supporting technology investments, funding is available for infrastructure development; expertise in technical, product and service development; intellectual property protection; marketing, branding and image building; strategic and corporate finance advisory services; and organizational, process and management development.

The current pre-qualification registration for the program closes on November 25 and pre-qualification submissions will take place between December 1 and 7. 

Hiventures has also made itself available to applying companies to assist them with a proper financing plan during the pre-qualification stage to improve their chances of winning the tender, the ministry said. 

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