Business infrastructure

Hungarian SMEs can apply for HUF 50 billion

Two new tenders will encourage the retention of as many employees as possible to mitigate the economic effects of the coronavirus.

Two tenders supporting developments have been launched for micro, small and medium-sized enterprises (SMEs) worth more than HUF 50 billion. The Economic Development and Innovation Operational Program (GINOP) has a budget of HUF 33.3 billion, and the Competitive Central Hungary Operational Program (VEKOP) has a budget of HUF 18.8 billion.

Balázs Rákossy, State Secretary of the Ministry of Finance (PM) responsible for the use of EU funds, said that the grants can be used to acquire new equipment and machinery or develop new technological systems and capacities. The goal of the tenders is to help companies retain as many employees as possible, thus countering the negative economic fallout from the coronavirus.

Eligible development programs include: automated production systems, production technologies and information technologies, production licenses, acquisition of production know-how, investment in real estate and real estate infrastructure, technical development, product and service development, and training and consulting related to development.

Enterprises can apply for HUF 5 million to 153.5 million in support, with a maximum amount of the support to be equal to 70 percent of the total eligible costs of a given development, the state secretary explained.

Companies with up to nine people can apply for HUF 1.5 million per employee; those with 10-49, HUF 1 million per employee; and entities with 50-249 people, HUF 0.5 million per employee. 

Interested parties can submit applications via a simplified procedure, which will be open starting on May 29. 

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