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Survey: Innovation, R&D could boost Hungary’s economy

Ecosystem

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Innovation and research and development activities are crucial to the economic development of Hungary and the region and could boost economic growth if the government, universities, and small and large companies provided sufficient support for the field, according to a recent survey by Antall József Knowledge Center (AJTK), the organization said today in a press release.

AJTK conducted its research by surveying more than 200 leaders from the fields of politics and science. Almost 90% of respondents said that innovation and R&D play a major role in Hungary with regards to the economy, while more than one-third of respondents said these fields have an elevated significance. 

Approximately 40% of the experts asked said that innovation also has a very important impact on society.

The survey found that when taking into consideration the number of startups in the country, Hungary needs to improve its revenues and expenditures, as well as its innovative developments, as compared to international standards, the press release said. 

The most innovation was seen in biotechnology, medicine, design, software development and medical equipment production, the survey noted.

According to 60% of respondents, Hungarian talent and startups make notable contributions to the field of innovation.

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