IT minister: Govt, universities, finance should cooperate to boost innovation in Hungary

The cooperation of the government, financial institutions and universities is essential to boost the implementation of innovative technology and artificial intelligence in Hungary, Information Technology Minister László Palkovics said at the Hungarian Business Leaders Forum in Budapest on Friday.

Hungary’s economy grew by 4.8 percent in the second quarter of the year, and the unemployment rate was at 3.7 percent at the end of August, practically reaching full employment, the minister noted. However,

the country ranks 22nd in innovation in the EU,

he said. As the area is especially important for competitiveness and economic growth, the Hungarian government will boost funding for R+D, he said.

Next to the innovation fund, the government will also set up a research fund and a research council, he said.

The government recently launched a Digital Welfare loan programme, offering interest-free loans for Hungarian SMEs’ digital development, Palkovics said.

Source: MTI