ADVERTISEMENT

Venture Finance Hungary to launch HUF 20bn in JEREMIE funded programs next year

Ecosystem

Venture Finance Hungary plans to launch two venture capital programs worth HUF 20bn in the first quarter next year using European Union JEREMIE funding for SMEs, Venture Finance Hungary CEO József Vingelman announced on Tuesday.

Vingelman said they expect further funding of HUF 6bn from private investors.

One program will offer at most €150,000 in venture capital funding for SMEs that have been established within the past three years and have annual revenue of at most HUF 200m.

The other will offer a maximum of €1.5m for SMEs that have been established within the past five years and have annual revenue of at most HUF 5bn.

Funding for the former program will be disbursed in one sum, while that for the latter could be drawn on in four installments until the end of 2015.

Only SMEs based outside the region of Central Hungary will be eligible for the programs.

ADVERTISEMENT

IMF raises Hungary 2021 GDP growth forecast to 7.6% Analysis

IMF raises Hungary 2021 GDP growth forecast to 7.6%

Parliament approves amendment to Competition Act Parliament

Parliament approves amendment to Competition Act

New CEO announced at Codic Hungary Appointments

New CEO announced at Codic Hungary

Budapest bike-sharing scheme boasts record ridership City

Budapest bike-sharing scheme boasts record ridership

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.