Corvinus University, BlackRock innovation center form partnership

Initiatives

Corvinus University of Budapest signed a cooperation agreement with the Budapest innovation and technology center of U.S.-based fund manager BlackRock in Budapest on Thursday, according to a report by state news agency MTI.

The agreement was signed by BlackRock Hungary Managing Director Melanie Seymour and Corvinus Rector András Lánczi.

Lánczi said the agreement was "one of a kind" and would involve working with the fund manager mainly in the areas of education and research. He added that the signing of the agreement is just the beginning of a cooperation that is not primarily about money.

László György, state secretary at the Ministry for Innovation and Technology, said the agreement is a symbol of the "change of system" at Hungarian institutions of higher education, which he remarked has come "30 years late."

On Monday, government plans were announced to establish a foundation, holding 10% stakes in oil and gas company MOL and drugmaker Richter contributed by the state, to fund Corvinus University.

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