Gov't calls tender for HUF 137 bln in corporate R&D funding

Government

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The government is calling a tender for HUF 137 billion in funding to advance research and development at Hungarian companies, Finance Minister Mihály Varga said in a video message posted on Facebook on Friday.

"An important goal during the economic recovery is for Hungarian companies to make progress in the area of research, development and innovation. That is one of the keys to being and remaining competitive in the changing global economy," Varga said.

Around 300 companies could be awarded the funding, he added.

The funding will be available for the development of new products, technologies or services, and can be used for experimental developments, industrial research, the acquisition of equipment, patent procedures and market launches.

The tender invitation will be published on Friday and applications will be accepted from October 18.

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