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SMEs submit 1,750 bids in technology funding scheme

The Ministry of Economy and Transport received 1,750 applications for Ft 4 billion in funding in the fourth phase of a subsidy program for technical and technological developments at SMEs, the ministry said in a statement on Tuesday.

The deadline for applying for the subsidies was May 5. A combined Ft 35.7 billion was awarded in the first three phases of the subsidy program to 2,200 applicants, of which Ft 11 billion has already been paid out.
Some 9,000 applicants have won subsidies under Hungary's Economic Competitiveness Operative Program (GVOP). The program's directorate has already signed contracts with 6,800 of these and paid out Ft 42 billion.