Unprecedented Surge in Participation: Hungary’s National Science and Innovation Olympiad Shatters Records!

This year’s 34th National Science and Innovation Olympiad in Hungary has seen a record number of participants. A total of 428 students, aged 14 to 18, joined the competition, forming 296 teams. Notably, 17 of these teams hail from Hungarian communities outside Hungary.

During a recent press conference in Budapest, Minister Balázs Hankó discussed the importance of this event. He highlighted a concerning trend: Europe’s competitiveness in technology and innovation is waning. Shockingly, only four of the world’s largest tech companies are based in the EU. While the U.S. claims 52% of global venture capital, Europe holds just 5%. Additionally, Europe’s share of scientific research output has decreased from 25% to 18% over the past decade. These numbers stress the need for concrete actions to boost innovation within Europe.

“The launch of the John von Neumann and Demján Sándor Programmes reflects Hungary’s commitment to promoting technological and scientific growth,” said Hankó.

To tackle these challenges, Hungary is investing in innovation as a critical driver for economic growth. The government aims to allocate 3% of its GDP to research and development. This plan includes closing the innovation gap with Western nations and enhancing collaboration between universities and industries. Over the last five years, the number of doctoral students and researchers in Hungary has doubled. The country now boasts 6,500 researchers per million people, with a target of reaching 9,000. Furthermore, funding for innovation has tripled, amounting to over 1,042 billion forints.

The Hungarian government is introducing various measures to encourage innovation, such as tax incentives for businesses and a dedicated research and innovation fund. The John von Neumann and Demján Sándor Programmes exemplify this commitment, with the latter receiving 1,410 billion forints. In 2024, an additional 131 billion forints will further support innovation-related projects.

Hankó expressed Hungary’s aspiration to be among Europe’s top 10 most innovative countries by 2030. The National Science and Innovation Olympiad, along with the Hungarian Innovation Grand Prize, is vital to achieving this goal. This year, small, medium, and large enterprises are invited to showcase their successful innovation projects, with applications open until February 10, 2024.

Zoltán Birkner, Vice President of the Hungarian Association for Innovation, shared the success stories from the Innovation Grand Prize. Over 32 years, nearly 1,500 applications have been submitted, with 248 winning awards. Birkner also highlighted new talent development programs that offer mentoring and support to young innovators.