The government will ease the conditions for subsidised credit for SMEs to support purchases of equipment and make technology upgrades, widening the scope of eligible businesses.
László Bódis, the deputy state secretary for innovation at the Culture and Innovation Ministry, said funding was awarded to 89 applications.
Minister Hankó said over HUF 106bn of the program funding would go toward investments that aimed to boost Hungarian SMEs' exports.
Small and medium-sized enterprises are a major pillar of Hungary’s economy.
The funding will be targeted at projects in the areas of digitalization, healthcare and the green transition that produce patents and products that generate revenue.
SMEs may apply for funding of between HUF 10 million and 200 million to buy new equipment, make IT developments, acquire real estate and make the switch to renewable energy.
The S3 strategy identifies priority areas of support which include agriculture and food production, healthcare, digitalization of the economy, creative industries, energy, services and cutting-edge technologies.
SMEs with at least one completed business year under their belt will be eligible for grants between HUF 10 and 630 million.
The Hungarian government is increasing the budget for subsidising green investments made by SMEs by HUF 20 billion (EUR 56m) to almost HUF 50 billion.
PM Orbán said SMEs can raise an interest-free loan with ten-year maturity of up to HUF 10 million (EUR 28,000), with repayments deferred by three years.
Mihály Varga said interest-free credit is to help businesses weather the coronavirus epidemic and prepare for the competition after the recovery.
SMEs can submit applications for part of a HUF 12 billion fund if they can commit to increasing their number of employees by at least three.
The GINOP program will provide HUF 12 billion to help micro, small and medium-sized enterprises increase employment across Hungary.