This year, the National Olympiad of Sciences and Innovation (OTIO) has set a new participation record, reflecting growing enthusiasm among Hungarian young people for scientific and technological innovation. During a joint press conference held in Budapest by the Ministry of Culture and Innovation (KIM) and the Hungarian Innovation Association (MISZ), the Minister of Culture and Innovation Balázs Hankó announced that 428 students aged 14 to 8 entered the competition, forming 296 teams. Among them, 17 teams represent Hungarian communities outside the country’s borders.
During his speech, Minister Hankó addressed the broader question of the drop in world competitiveness in Europe in technology and innovation. He pointed out that only four of the 50 largest technological companies in the world are based in the European Union, while the continent represents only 5% of global venture capital investments-52% in the United States and 40% China. European scientific production has also suffered from 25% of the world total more than a decade to only 18% today. According to the minister, these trends highlight the urgent need for a turnaround focused on innovation to restore competitiveness.
“ The launch of John von Neumann and Demján Sándor programs underlines the commitment of Hungary to promote technological and scientific progress’ ”
To counter these challenges, Hungary focuses on innovation as a pillar of economic growth. Hankó stressed that the country was to allocate 3% of its GDP to research and development, to fill the innovation gap with Western economies and strengthen collaboration between industrial companies and universities. A more flexible regulatory environment adapted to innovation is also essential, while promoting young talents. Hungary has already taken important measures in this direction. Over the past five years, the number of doctoral students in Hungarian universities has doubled, as is the number of researchers and developers in the private sector. Currently, Hungary has 6,500 researchers per million inhabitants, with the aim of increasing this to 9,000. In addition, innovation funding has tripled over the past decade, reaching 1,042 billion drinks.
The Hungarian government has introduced several measures to stimulate innovation. These include tax incentives for businesses, creating a research and innovation fund and higher education reforms. The launch of John von Neumann and Demján Sándor’s programs, the latter supported by 1,410 billion drinks, still underlines the country’s commitment to promote technological and scientific progress. In 2024, an additional 131 billion of drinks will be allocated to initiatives related to innovation.
Hankó reiterated the ambition of Hungary to rank among the best 10 most innovative countries in Europe by 2030. The National Olympiad of Sciences and Innovation, alongside initiatives such as the Grand Prix Hungarian innovation plays a crucial role in achieving this objective. The Grand Prix, now in its 33rd year, invites small, medium and large companies to submit innovation projects which demonstrated a measurable commercial success in 2024. The requests remain open until February 10.
Vice-president of Misz, Zoltán Birkner, underlined the impact of the Grand Prix of Innovation, noting that nearly 1,500 requests have been submitted in the past 32 years, with 248 awards. He also announced new talent development initiatives, including mentoring and professional support for promising young people.
Related items: