The Hungarian Government’s billion-dollar Forint Funding for Innovative Companies Aims to Increase t
Hungarian Finance Minister Varga Mihály said, Starting from October 7, SMEs that create high value-added employment opportunities through their own development can apply for a special amount of HUF 5 billion.
The Minister of Finance said that the “Road to the Future” program aims to increase the competitiveness and productivity of the SME sector, and companies can also use their new skills to improve their technique level. The program will help create higher value-added jobs by supporting SMEs' expansion capabilities and technology investments. He stressed that the government is committed to supporting the growth of labor wages, so the terms of the plan also guarantee this. In addition to the purchase of new equipment, machinery, and real estate investments related to the development of new technologies, grants can also be used to purchase intellectual results.
Varga Mihály pointed out that companies that receive grants must undertake to maintain the current number of employees, achieve at least 10% annual salary increase within three years, and provide training for employees. The amount of subsidies that can be applied is between 10 million and 150 million HUF, but the investment in poor areas can be as high as 200 million HUF. The amount of subsidy that can be exchanged is up to 50%
More information about the program can be found on kormany.hu or ofa.hu.