This year’s 34th National Science and Innovation Olympiad (OTIO) has set a new record for participation, reflecting growing enthusiasm among young Hungarians for scientific and technological innovation. At a joint press conference held in Budapest by the Ministry of Culture and Innovation (KIM) and the Hungarian Association for Innovation (MISZ), Minister for Culture and Innovation Balázs Hankó announced that 428 students aged 14–8 have entered the competition, forming 296 teams. Among them, 17 teams represent Hungarian communities from outside the country’s borders.
During his speech, Minister Hankó addressed the broader issue of Europe’s declining global competitiveness in technology and innovation. He pointed out that only four of the world’s 50 largest technology companies are based in the European Union, while the continent accounts for a mere 5 per cent of global venture capital investment—compared to 52 per cent in the United States and 40 per cent in China. Europe’s scientific output has also suffered, dropping from 25 per cent of the global total over a decade ago to just 18 per cent today. According to the minister, these trends underscore the urgent need for an innovation-driven turnaround to restore competitiveness.
‘The launch of the John von Neumann and the Demján Sándor Programmes underscores Hungary’s commitment to fostering technological and scientific advancement’
To counteract these challenges, Hungary is focusing on innovation as a pillar of economic growth. Hankó emphasized that the country must allocate 3 per cent of its GDP to research and development, bridge the innovation gap with Western economies, and strengthen collaboration between industrial enterprises and universities. A more flexible and innovation-friendly regulatory environment is also key, along with fostering young talent. Hungary has already taken significant steps in this direction. Over the past five years, the number of doctoral students at Hungarian universities has doubled, as has the number of researchers and developers in the private sector. Currently, Hungary has 6,500 researchers per million inhabitants, with a goal to increase this to 9,000. Additionally, funding for innovation has tripled in the past decade, reaching 1,042 billion forints.
The Hungarian government has introduced several measures to stimulate innovation. These include tax incentives for businesses, the creation of a research and innovation fund, and reforms in higher education. The launch of the John von Neumann and the Demján Sándor Programmes, the latter backed by 1,410 billion forints, further underscores the country’s commitment to fostering technological and scientific advancement. In 2024 alone, an additional 131 billion forints will be allocated to innovation-related initiatives.
Hankó reiterated Hungary’s ambition to rank among Europe’s top 10 most innovative countries by 2030. The National Science and Innovation Olympiad, alongside initiatives such as the Hungarian Innovation Grand Prize, plays a crucial role in achieving this goal. The Grand Prize, now in its 33rd year, invites small, medium, and large enterprises to submit innovation projects that have demonstrated measurable business success in 2024. Applications remain open until 10 February.
MISZ Vice President Zoltán Birkner highlighted the impact of the Innovation Grand Prize, noting that nearly 1,500 applications have been submitted over the past 32 years, with 248 receiving awards. He also announced new talent development initiatives, including mentoring and professional support for promising young innovators.
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