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247 innovative firms share HUF 68 bln in EU funds

More than HUF 68 billion in EU development funds has been distributed among 247 innovative projects by the Ministry for National Economy, according to a ministry press release published today, cited by online portal 

The beginning of the list of winning innovators.

The total value of developments to be realized within the scope of a tender for support for companies’ research, development and innovative activity exceeds HUF 128 bln. Micro, small and medium-sized enterprises were able to apply for funding, as well as large firms. The non-refundable money is used to support Hungarian projects that result in the development of new, marketable products, services and technologies containing significant intellectual added value, says the press release.

A list of the successful applicants and their projects can be accessed on the website of the authority responsible for the tender, the National Research, Development and Innovation Office. 

Balázs Rákossy, state secretary responsible for the use of EU funds at the Economics Ministry, told Hungarian news agency MTI that during the 2007–2013 EU budgetary cycle a total of HUF 353 bln was made available to bidders for R&D and innovation, while the new development cycle for 2014–2020 makes more than double this amount – some HUF 750 bln – available for innovative goals. This is financed from the HUF 2,730 billion of the Economic Development and Innovation Operational Program (GINOP). 

In a related report on, an additional HUF 5 billion is to be made available from GINOP funds for R&D support for startups in an incubator program in eight cities. Under the scheme, eight selected startup firms in Balatonfüred, Bonyhád, Debrecen, Győr, Kapolcs, Miskolc, Pécs and Szeged will be obliged to provide 20% of the funding themselves.