The Hungarian government has announced a HUF 7 billion (EUR 19.4m) tender to support the competitiveness of Hungary’s fashion and creative industry, in view of the sector’s growing role in international markets and its “world-class quality”.
Balázs Rákossy, State Secretary for the utilisation of EU funding, told MTI that fshion and design firms can apply for funding between HUF 5 and 150 million for technological developments, wage subsidies as well as marketing and legal services.
The government will waive repayment of the funding if the company fulfils predetermined targets. The scheme is expected to help some 200 companies. Applications will be accepted from January 5, 2021, he added.
Photo credit: Masters Portal