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Fast Track programme reopens with a HUF 8 billion budget
07 December 2021
Modified: 15 December 2021
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Last year’s call for proposals that encouraged the production of new products and processes with high added value from the knowledge and intellectual property of Hungarian universities and businesses is now available again, announced Tamás Schanda. The Deputy Minister of the Ministry for Innovation and Technology (ITM) added that the second round of the Fast Track programme, which was successfully launched last year, will encourage the practical application of Hungarian ideas with a budget of more than two and a half times the amount of the previous year.

The National Research, Development and Innovation Office launched the first round of the programme last September for Hungarian companies with outstanding growth potential and significant added value. Twenty spin-off companies will receive altogether HUF 3 billion to carry out market-oriented healthcare developments in areas such as smart cell diagnostics and innovative skin cancer treatments. Funding was also awarded for the creation of an artificial intelligence-based quantum chemical simulation software to support drug discovery.

The new call for proposals is available at the website of the NRDI Office. The aim is always to develop a marketable prototype, product, technology or service with significant scientific or technical novelty. An additional condition for participation is the employment of a researcher. The maximum amount of funding is HUF 50 to 200 million per project. The call could thus enable 40 to 160 innovative initiatives to become a reality, and the same number of highly qualified professionals to find jobs. Applicants interested in the opportunity can first submit a request for a professional opinion via an online interface.

“The government is dedicated to put Hungary among the top innovators in Europe by 2030. Last year, Hungary spent more than ever before on research and development – some HUF 771 billion. The amount of public expenditure has nearly doubled since 2010. Even during the crisis caused by the coronavirus pandemic, most new jobs were created in sectors that have boosted competitiveness with a lasting effect, in the IT sector and in scientific and professional activities. While in 2010 there were only 31,000 researchers working in Hungary, last year there were more than 62,000,” said Tamás Schanda.

Source: ITM

Updated: 15 December 2021
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