László György, State Secretary for Economic Strategy and Regulation at the Ministry of Innovation and Technology (ITM), has highlighted how the MMP offers significant financial resources for the development of small to medium-sized companies (SMEs) and provides tailor-made professional support for further development.
The state secretary said the main task of the program is to strengthen domestic companies in order to compete on the world stage. He added that the government provided more than HUF 14 billion in financial resources to participating companies in the program, and HUF 13 billion of that was in non-refundable grants.
Two main elements were taken into account when selecting SMEs to participate in the program: Businesses had to either increase their net sales by 20 percent a year or increase net exports by 50 percent a year over the three years prior to the start of the program.
In the first round, 104 companies met the eligibility criteria, but in the end only 57 Hungarian SMEs were accepted by a seven-person panel. The full presentation can be found on the MMP official website.