Over HUF 100 bln of focused funding will be available for supporting the product development of innovative Hungarian enterprises during a second round of applications.

The total allocation for the scheme is HUF 107 bln, and first-round funding applications reached HUF 5 bln.

Bódis said significant funding will also be available for the third round of applications for a tender to support innovation in the business processes of micro and small enterprises, as the total allocation for the program is HUF 75 bln and applications so far have reached HUF 34 bln.

The minister noted that the competitiveness of the Hungarian economy is fundamentally determined by how innovative Hungarian businesses are, which is why supporting innovation is important.