The announcement was made by German federal minister Andreas Scheuer during Gamescom 2020.
A pilot version of the fund has been launched in June 2019, but it was limited to a maximum of €200,000. The program will now help "small- and large-budget games." German companies can submit applications for a "non-repayable grant" starting September 28, 2020.
"The launch of the major games fund means Germany can finally become internationally competitive as a games location," said Felix Falk, managing director of the German industry trade body Game. "This is the starting signal for our comeback."
The new program can be used for a variety of projects, including prototypes, co-productions, and ports. If you have a prototype, the production costs must be between €30,000 and €400,000. As for other projects, costs should be at least €100,000.
"I am thankful for the confirmation that lessons have been learned from the experiences of the past few months, and that, in future, funding is to be administered as quickly and un-bureaucratically as possible and tailored to the needs of games companies," Felix Falk noted.
You can learn more about the funding here.