Three Hungarian firms win EU's new SME grant

Int’l Relations

Three Hungarian businesses, ASK-M, BIOMORV and BIOPOLUS, were among the small and medium-sized enterprises (SMEs) from 21 countries that won grants from the new EUR 3bn SME Instrument of the European Commission (EC), the Commission's Hungary office announced on Thursday.

The EC published on Thursday a list of the 155 small and medium-sized enterprises (SMEs) that will be the first to benefit from its new SME Instrument.

The winning SMEs will each receive EUR 50,000 to finance feasibility studies for their projects, and they can also benefit from up to three days of business coaching. After that, their projects may be considered for further financial support, worth up to EUR 2.5 mln, from the Commission.

AS-M received a grant for activity connected to validation diagnostic equipment and biomarkers, BIOMORV received a grant for development of low-carbon energy-systems and BIOPOLUS Technologiak for sustainable-food production and processing.

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