The Hungarian Innovation Agency (HIA), the National Research, Development and Innovation Office (NRDIO) and the Torch High Technology Industry Development Center (Torch Center) of the Chinese Ministry of Industry and Information Technology signed a memorandum of understanding for innovation cooperation on 5 November in Budapest. The three parties aim to promote the exchange of knowledge and experience between science parks and innovative enterprises and to support commercialisation and market development.

HIA and NRDIO have hit another milestone of cooperation in technological and industrial innovation: the two organisations negotiated collaboration with the Torch Center and its high-level delegation comprising major high-tech zones and science parks in China.

At the signing ceremony, László Bódis, Deputy State Secretary for Innovation at the Ministry of Culture and Innovation and CEO at HIA, presented the innovation ecosystem of Hungary, then Ádám Kiss, President of the NRDIO, spoke about NRDIO's role in the ecosystem. After that, Lyu Xianzhi, Director General of the Torch Center, delivered an overview about the Torch Center, the Chinese innovation ecosystem and high-tech zones there.

As a conclusion of the meeting, a joint memorandum of understanding was signed, with the intention to deepen cooperation in key industries and technological fields such as biomedicine, information technology, advanced manufacturing solutions, and artificial intelligence.

The three parties aim to promote the exchange of knowledge and experience between innovative enterprises and to support commercialisation and market development. In addition, joint events are planned, which not only serve to build business relations, but also provide an opportunity to learn about policy approaches developed in the field of research, development and innovation and to promote innovative solutions. The aim of the cooperation for the participating countries is to realise joint contributions to global technological development and sustainable economic growth.