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Further HUF 20 billion funding available for innovation by Hungarian companies
13 October 2020
Modified: 26 October 2020
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Job creation and boosting the competitiveness of Hungary are also served by the PIACI KFI funding scheme (support for market-driven RDI projects) under which applicants may now apply for further HUF 20 billion funding, announced Tamás Schanda. The Deputy Minister and Strategic State Secretary of the Ministry for Innovation and Technology added: this funding is available to businesses, as well as research and knowledge dissemination organisations for developing new products, services and technologies having an export potential.

Owing to the considerable interest generated by the PIACI KFI funding scheme launched this summer, its initial budget was increased significantly already at that time by the Ministry for Innovation and Technology (ITM): thus, instead of HUF 40.88 billion more than HUF 59 billion could be applied for in the first round by the 152 endorsed project proposals. In addition to this amount, another HUF 20 billion is granted in this round of the call to promote innovation by Hungarian businesses. ITM gives priority to the development of projects that are conceived in professional cooperation involving Hungarian and international research institutes, universities, business partners and companies. The announced budget targets the development of new products, services and technologies that boost the competitiveness of the Hungarian economy, have an export potential and may even generate new jobs, said Tamás Shanda.

Applications are submitted in two phases. In the first phase project ideas must be submitted for reviewing between 14 and 22 October or until the sum of the applications submitted reaches HUF 100 billion. And in the second phase the detailed applications are to be submitted no later than on 29 January 2021.

Under the PIACI KFI call, applications can be submitted to two sub-programmes: sub-programme ‘A’ is open to individual applicants up to the amount of HUF 100–400 million, while sub-programme ‘B’ is available only to consortia up to the amount of HUF 400–800 million.

Updated: 26 October 2020
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