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SMEs begin applying for funds for tech development

Telco

Micro and small and medium-sized enterprises (SMEs) may submit applications from today for a total of HUF 17 billion in funding for technological developments under the Economic Development and Innovation Operational Program (Ginop), announced Balázs Rákossy, minister of state responsible for the use of EU funds at the Ministry for National Economy.

Micro and small and medium-sized enterprises (SMEs) may apply for HUF 5-15 million in non-refundable support for the acquisition of equipment and software, said Rákossy, cited in a report by business news site vg.hu. He added that interest in the tender is expected to be high since, contrary to earlier practice, it is not just producing and manufacturing companies that can apply in the tender, with the aim of "increasing the competitiveness of SMEs through adaptive technological innovation."

The tender supports the acquisition of both equipment and intangible assets – software, manufacturing licenses or know-how – by which companies will launch new or significantly modified products, services or processes. The amount of support will be set at a maximum of 50% of the value of the development, with applications to be assessed through a simplified procedure. The time allowed for implementation of winning projects is a maximum six months.

Earlier last Friday, Rákossy recalled that 430 micro and small and medium-sized enterprises have won a total of some HUF 40 billion in non-refundable support for improving competitiveness and bolstering production, and a total of more than HUF 78 bln worth of investments may be implemented as a result.

He added that clusters and socially-oriented enterprises won some HUF 3 bln under the Ginop program for developments and employment schemes, while a total of 210 companies won a combined HUF 36.5 bln for the expansion of production capacities.

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