You are here: For the applicantsFunding schemesOpen callsSzéchenyi 2020 RDISmart specialisation, venture capital programme – (VEKOP-2.1.2-17)
Smart specialisation, venture capital programme – (VEKOP-2.1.2-17)
Date of announcement: 16 march 2017
Last modified:
Next deadline for submission:
Deadline for E-submission: 21 december 2023
21 december 2023
Deadline for application via post office: Until the funds are available
Submitter of proposal
Enterprise
Beneficiary groups
Enterprise (non-research type)
Budget
HUF 5 490 000 000
Estimated number of funded projects
10 pcs
Funds available per project
HUF 200-1500 Mn
Project duration
2-7 years
Field of research activity
Fundamental research, Industrial research, Experimental development, Innovation
Evaluator of proposals
Managing authority

Deadline for submission:

The programme aims to provide venture capital to high growth potential businesses which have developed innovative products or services. The selected fund managers consider it a priority that the product and service development projects to be funded in the programme should relate to one of the sectoral or horizontal priorities and smart technologies identified in the National Smart Specialisation Strategy (S3).

 The call mirrors the EDIOP venture capital programme announced earlier with a similar objective but it is intended for projects to be implemented in the Central Hungary region (Budapest and Pest county).



Participants of the programme

  • Deputy State Secretariat for the Implementation of Economic Development Programmes of the Ministry of National Economy as Managing Authority
  • Hungarian Development Bank as the implementing organisation of the fund of funds
  • financial intermediaries as fund managers
  • final beneficiaries as eligible businesses under the equity programme

 Financial intermediaries are selected in an open, transparent and non-discriminatory public procurement procedure in line with EU and national law.

 

The final beneficiaries of the programme

  • SMEs with a high growth potential,
  • in startup or early stage,
  • pursuing or ready to pursue RDI activities.

Preference will be given to projects that directly or indirectly relate to the following objectives and specialisation directions of the National S3:

  • Healthy society and well-being
  • Advanced vehicle and other engineering industry technologies
  • Clean and renewable technologies
  • Sustainable environment
  • Healthy and locally produced food
  • Agricultural innovation
  • ICT and services
  • Inclusive and sustainable society, livable environment
  • Smart technologies

Available budget

The total budget of the equity programme is HUF 5.49 billion. The final beneficiaries will receive HUF 200 to 1500 million capital investment from the financial intermediary subject to the conditions determined in the investment negotiations.


The proportion of private equity

If the venture capital financing takes the form of capital investment, quasi-equity investment or debt investment, the eligible businesses need to involve additional financial sources so that the proportion of private equity on aggregate reaches

  • in the case of eligible businesses which have not yet implemented their first commercial sale in a given market: 10% of the provided venture capital financing;
  • in the case of eligible businesses which have been present in a given market for less than 7 years from their first commercial sale: 40% of the provided venture capital financing;
  • in the case of eligible businesses which, on the basis of a business plan prepared for the purpose of entering a new product or geographic market, request first venture capital financing in excess of 50% of their average annual sales revenue in the previous 5 years and in the case of additional investment into eligible businesses after the above-mentioned 7-year period: 60% of the provided venture capital financing.

Schedule of the programme

  • Announcement of the call relating to the selection of fund managers: by 31 March 2017.
  • Selection of fund managers: 2017 Q3
  • Start of selection of the final beneficiaries: 2017 Q4
  • Adoption of investment decisions: by 31 December 2023
  • End date of settlement period: 31 December 2023
  • Last date of expenditure charged against the Fund: 31 December 2029

(Without refunded sources: 31 December 2023)

  • The duration of the capital fund is 13 years.

 

Full description of the equity programme:

https://www.palyazat.gov.hu/vekop-212-17-intelligens-szakosodsi-kockzati-tkeprogram-1

Széchenyi 2020 customer service:
Phone: +36 1 896 0000
Monday-Thursday: 08:00-16:00
Friday: 08:00-14:00

To ensure value-based professional evaluation of proposals arriving in large quantities from the fields of discovery and applied research and innovation, to assess professional reports of funded projects and to prepare policy opinions, the NRDI Office intends to expand its expert pool in all fields of expertise.

Professionals who have registered in the database of the NRDI Office can become responsible contributors, as independent peer-reviewers, to the evaluation process in which the professional quality, novelty content and commercialisation perspectives of the proposals as compared to the requested funding should be assessed as core considerations.

The registration process can be initiated through the registration form of the NRDI Office’s website. Registration is continuously open.

Requested data within the expert registration form include:

  • personal data, contact details (necessary for contracting review assignments);
  • classification of professional skills and competencies and research areas (to get review invitations fine-tuned to your field of expertise);
  • topics of the previously reviewed proposals;
  • present and past jobs, interest networks (in order to pre-screening of conflicts of interest in a given rview assignment), education, scientific titles, most important publications and intellectual works demonstrating your professional experience;
  • language skills.

Professionals once registered in the database of experts may be invited by the NRDI Office to review submitted proposals, to assess professional reports of funded projects and to contribute to policy opinions.

Each proposal is reviewed by several independent experts at the same time. Experts selected from the database to review proposals, to assess professional reports and facilitate expert opinions will be contracted by the NRDI Office on a case-by-case basis. When concluding such a contract experts must declare that the review assignment is not obstructed by any conflict of interest whatsoever. Depending on the competition type, written expert reviews must be prepared in 15-28 work days and submitted electronically via the online review portal of the NRDI Office.

FURTHER INFORMATION

For further information contact at phone +36 1 795 9500 or email at szakerto_regisztracio@nkfih.gov.hu

The NRDI Fund Programme Strategy for the year 2017, scheduling calls with a total budget over HUF 90 billion (EUR 295 million) has been endorsed by the Government decree 1762/2016. (XII.15.).

The timing and the budget of European-financed non-refundable and refundable RDI schemes under the EDIOP (GINOP) and CCHOP (VEKOP) programmes have been approved by the Government within the Annual Development Framework Programme, upon the proposal of the NRDI Office. Pursuant to the Government Decree 106/2018. (VI. 15.) on the amendment of certain Government Decrees related to development policy due to the Government being restructured, the 2nd priorities of the EDIOP/GINOP and CCHOP/VEKOP (i.e. research, technology development and innovation) operational programmes are commanded to the political responsibility of the Ministry of Innovation and Technology (MIT) instead of the National Research, Development and Innovation Office as from 16 June 2018.

The chart below shows all calls for proposals and their budget relating to the main target areas (Corporate/Business RDI, Knowledge transfer between the industries and the academia/universities, Development of research infrastructure, Discovery research, Promotion of international cooperation programmes), split by the source of funding.

Source
Specificity
Budget
2015 (Bn HUF)

Budget
2016 (Bn HUF)

Budget
2017 (Bn HUF)

Budget
2018 (Bn HUF)

non-
refundable

non-
refundable

refundable
non-
refundable

refundable
non-
refundable

refundable
GINOP
Economic Development and Innovation Operational Programme (EDIOP/GINOP) European funds for the entire country except the Central Hungary region
382.84
60.23
112.19
36.76
70
9
-
VEKOP
Competitive Central Hungary Operational Programme (CCHOP/VEKOP) European funds for the Central Hungary region
-
42.64
-

 5.49

-
NKFI Fund
National Research, Development and Innovation Fund made up of the innovation tax paid by enterprises
11.29
68.43
-
89.21
-
77.60
-

Target areas
Calls for proposals
Budget
2015 (Bn HUF)

Budget
2016 (Bn HUF)

Budget
2017 (Bn HUF)

Budget
2018 (Bn HUF)

non-
refundable

non-
refundable

refundable
non-
refundable

refundable
non-
refundable

refundable
Corporate/
business RDI activities

Support of business RDI activities
GINOP-2.1.1-15; VEKOP-2.1.1-15; KFI_16; 2018-1.1.2-KFI
77.5
22
 -

 -

 -
-
19.97
 -
-
-
-
-
-
21
 -
35.44
-
20
-
Funding to micro and small enterprises for innovation activities 2018-1.1.1-MKI
-
-
-
-
-
10
-
Business RDI, loan
GINOP-8.1.1-16
-
-
30.09




Business RDI, combined with loan
GINOP-2.1.2-8.1.4-16
-
59
50
-
-
-
-
National technology and intellectual property, venture capital programme
GINOP-8.1.3/A-16
-
-
32,1




Smart specialisation, venture capital programme
GINOP-8.1.3/B-17; VEKOP 2.1.2-17
-
-
-
-
 70
-
-
-
-
-
-
 5.49
-
-
Intellectual property rights
GINOP-2.1.3-15; IPARJOG_15
0.2
-

-

-

0.3
-
 -
0.1
-
0.2
-
Innovation voucher
GINOP-2.1.4-15
0.1
-
 -




Innovation ecosystem (start-up and spin-off)
GINOP-2.1.5-15; ÖKO_16
4.714
-





-
-
 -
1.5
-
-
-
Exportable innovative product development
GINOP-2.1.6-16
-
1.225
 -

-

-
Support for export oriented R&D activities of domestic businesses
Export_17
-
-
-
4.83
-
-
-
Prototype, product, technology and service development
GINOP-2.1.7-15; VEKOP-2.1.7-15;
48.64
-
 -




-
10.35
-
-
-
-
-
Enhancing the competitiveness of SMEs through adaptive technological innovation
GINOP-2.1.8-17
-
-

36.761
-
-
-
Knowledge transfer
R&D competitiveness and excellence cooperation programmes
GINOP-2.2.1-15; NVKP_16; VEKOP-2.2.1-16; GINOP-2.2.1-18
95.231
-

-
-
9
-
-
2.29
-




-
28
-
-

-

National Excellence Programme2018.1.2.1-NKP
 
-
-
-
-
5
-
Competitiveness and excellence cooperation programmes
VKE_17; 2018-1.3.1-VKE
-
-
-
16.73
-
26
-
Research infrastructure development of Higher Education and Industry Cooperation Centres
GINOP-2.3.4-15; FIEK_16
26.86
-
 -




-
8
-

-

-
Research infrastructure
Excellence of Strategic R&D centres
GINOP-2.3.2-15; VEKOP-2.3.2-16
64.25
-
-
-
-
-
-
-
4.02





Strengthening research infrastructures - internationalisation, networking
GINOP-2.3.3-15; VEKOP-2.3.3-15
25.29
-
 -
-

-

-
6.01
 -
-

-

ELI laser research facility
GINOP-2.3.6-15
40.05
-

-

-

Discovery research and postdoctoral programmes
Researcher-initiated research projects
K_15; K_16; K_17
5.98
7
-
6.5
-
-
-
Researcher-initiated research projects K_18Research projects initiated by young researchers FK_18
-
-
-
-
-
9.4
-
Postdoctoral research projects
PD 2015/1,2, 3
1.57
-
-
-
-
-
-
Postdoctoral excellence programme
PD_16; PD_17; PD_18
-
1.8
-
1.5
-
1.5
-
Research projects initiated by young researchers
FK_17
-
-
-
3
-
-
-
Support of research teams with internationally prominent achievements
KH_17; KH_18
-
-
-
1
-
1.2
-
“Frontline” – Research Excellence Programme KKP_17; KKP_19
-
-
-
-
-
3
-
National Excellence Programme
NKP_17
-
-
-
10
-
-
-
International RDI cooperation
National support for European Research Council (ERC) programme entries
ERC_HU_15 (450 MHUF); ERC_16_MOBIL (200 MHUF); ERC_HU_18 (450 MHUF
0.45
0.45
-
0.45
-
0.45
-
Researcher-initiated research projects based on international cooperation
NN_17, ANN_17, SNN_17; V4-Japan Joint Research Programme (2015: 45.5 MHUF); KNN_16 (2016: 72 MHUF); NN_18, ANN_18, SNN_18
-
-
-
1
-
1
-
Promotion of Hungarian participation in programmes and initiatives related to Horizon 2020
KKV_15 (2015-16: 60 MHUF, 2017: 100 MHUF, 2018: 80 MHUF); EU_KP_16 (230 MHUF, 2018: 80 MHUF); NEMZ_15 (1 380 MHUF);  NEMZ_16 (2016: 710 MHUF, 2017: 697.5 MHUF); NEMZ_18 (1 200 MHUF); ERA-NET Infect-ERA (2015: 40 MHUF, 2016: 40 MHUF); ERA-NET E-Rare-3 (2015: 45 MHUF, 2016: 45 MHUF, 2017: 45 MHUF, 2018: 45 MHUF); M-ERA.NET-2 (2015: 90 MHUF, 2016: 90 MHUF, 2017: 90 MHUF); JPND (2017: 190 MHUF); FLAG-ERA JTC (2015: 200 MHUF, 2017: 155 MHUF); Quant-ERA (2017: 90 MHUF); EUREKA_15 (400 MHUF); EUREKA_16 (2016: 400 MHUF, 2017: 400 MHUF); EUREKA_18 (400 MHUF); 2018-2.1.2-NEMZ (442 MHUF); 2018-2.1.6-NEMZ_ECSEL (760 MHUF)
2.2
1.5
-
2.05
-
2.05
-
National complementary support to Hungarian projects under the Horizon 2020 Teaming Programme
-
-
-
1.91
 -
0.38
 -
Programme-based bilateral R&D cooperation projects
TÉT_15_IN (300 MHUF); TÉT_15_IL (310.93 MHUF); TÉT_16_CN (200 MHUF); TNN_16 (150 MHUF); INN_16 (150 MHUF); TÉT_17_VN (200 MHUF); TÉT_17_IL (300 MHUF); TÉT_17_RU (150 MHUF); TR-NN_17 (150 MHUF); TÉT_17_IN (300 MHUF); TéT_17_CN (200 MHUF); NKFIH-TÜBITAK cooperation (150 MHUF); TéT_TÉT-IL_18 (300 MHUF); TéT_Iran_18 (150 MHUF), TÉT-IL (2018: 310 MHUF)

Support of bilateral S&T cooperation projects
TÉT_15_AT (20 MHUF); TÉT_15_TR (30 MHUF); TÉT_15_AR (50 MHUF); TÉT_15_MN (20 MHUF); TÉT_15_FR (20 MHUF); TÉT_15_CN (40 MHUF); TÉT_16_HR (20 MHUF); TÉT_16_SI (20 MHUF); TÉT_16_PT (20 MHUF); TÉT_16_RS (20 MHUF); TÉT_16_MC (20 MHUF); TÉT_16_FR (30 MHUF); TÉT_16_JP (50 MHUF); TÉT_17_AT (20 MHUF); TÉT_17_FR (20 MHUF), TÉT-MC (2018: 20 MHUF), TÉT-RS (2018: 20 MHUF), TÉT-HR (2018: 20 MHUF), TÉT-SI (2018: 20 MHUF), UK_GYAK (2018: 30 MHUF), TÉT-FR (2018: 20 MHUF), TÉT-PT (2018: 30 MHUF), TÉT-HR (2018: 20 MHUF); TÉT-SI (2018: 20 MHUF); TÉT_CN (2018: 40 MHUF); TÉT-PT (2018: 16 MHUF);
0.79
0.68
-
1.34
-
0.61
-
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