More funding available in more areas

The annual framework budget of the Economic Development and Innovation Operative Programme (GINOP) got HUF 300 billion bigger. This means that until the end of 2016 businesses can apply for funding from a HUF 2,200 billion budget. Balázs Rákossy, secretary of state in the Ministry for National Economy told that it has become easier and faster for enterprises to apply for funding from the European Union. He added that the government decided to start 7 new funding programmes, so until the end of the year 96 different financing schemes are available to businesses. For instance enterprises can apply for HUF 438.6 billion for R&D&I projects from the GINOP.

Industrial parks can get funding from a HUF 6 billion budget, asking for non-refundable financial support between the sums of HUF 10 million and 100 million. There are about 220 industrial parks in Hungary and in the 2014-2020 the goal is to expand the number and improve the quality of services they offer to SMEs. The framework budget for assisting young people in becoming entrepreneurs is HUF 2.9 billion – the EU grants a non-refundable HUF 3 million to those who apply successfully. In the processing industry SMEs that wish to realise production capacity increasing development projects can get funding up to HUF 500 million.