The Hungarian Ministry for National Economy has unveiled a $4.5 billion scheme aimed at creating one million jobs within ten years. The New Széchenyi Development Plan will bolster small and medium enterprises (SMEs) across all industries, including biotech. The launch of a series of consultations, slated for September 2011, will provide SMEs with resources from local government and EU funds by 2013. The key points include developing healthcare and 'green' industries, improving science and innovation, promoting business growth, and investing in housing, employment and transport. “What we see is promising, but the plan is only one piece of the policy. We need to see how it will work all together, “notes Ernö Duda, CEO of SOLVO, headquartered in Budapest, and founder and president of the Hungarian Biotechnology Association. “It is still too early to say how much of the funding will go into the biotechnology industry, but we hope that the government will recognize that while biotechnology is a small sector, it is growing—even while Hungary was in recession, the biotechnology sector grew by around 50% a year,” says Duda. The Hungarian Biotechnology Association, which was founded only seven years ago and already has over 100 members; has compiled a strategic report on the biotech industry for the government. “We see the Széchenyi plan as being in line with our strategy, and we feel that this will give the industry a boost,” says Duda.