Hungary's Nav N Go has won a HUF 298 million grant from the European Union and the state to support the development of mobile navigational software it is making in partnership with U1 Research Nonprofit and the Budapest Technical and Economics University, Nav N Go managing director Tamás Vahl said.
The cost of the development project, expected to be completed at the end of July 2011, will come to about HUF 650 million, Váhl said. Nav N Go is paying for all costs not covered by the grant, he added.
Nav N Go expects to recoup its costs with the sale of the technology itself as well as by building it into its own products.
Nav N Go is coordinating the project and developing the content with the cooperation of U1. The university is providing modeling, content management and speech recognition for the project. (MTI – Econews)