Budapest, 31 July 2024 – Evaluation of the professional content of project proposals to the 2023 Fast Track Call closed The National Research, Development and Innovation Office is offering non- refundable funding of up to HUF 300 million per project for the development of products, technologies or services with significant scientific or technical novelty. Projects shortlisted for funding include promising innovations that offer promising solutions to many of today’s major challenges, such as understanding the ageing process, treating infections or improving public safety.
In an assessment system renewed according to the best international standards, experts with scientific backgrounds and industrial experience working on the assessments in pairs, as well as the newly established Focal Area Innovation Boards, have recommended 22 out of 52 project proposals submitted for funding, for a total of more than HUF 5.6 billion. The Ministry for Culture and Innovation has decided to increase the original budget of HUF 2 billion to HUF 5.6 billion to ensure that all high-quality projects receive funding.
The Fast Track programme is designed to help fast-growing start-ups and spin-offs that plan to commercialise research results from higher education institutions or research institutes and undertake further significant R&D activities to bring them to market successfully. The scheme will build on the knowledge capacity of Hungarian universities and research institutions to develop new, innovative products, services and procedures that can provide effective, marketable solutions in the areas of preventive, curative and care systems for healthy living, circular systems for greening the economy and processes supporting the digital transition, in line with the focus areas defined in the John von Neumann Programme.
“The Fast Track programme strengthens the entrepreneurial mindset in universities and research institutions, but it also gives a new impetus to internationally successful businesses that work with them. This not only strengthens the competitiveness of the Hungarian economy, but can also contribute to tackling global social or economic challenges”, Dr Zsuzsa Szabados, Vice President for Business Innovation of the NRDI Office pointed out.
The call for proposals, originally published with a budget of HUF 2 billion, met six times the market demand in a short period of time, with applicants submitting a total of 52 project proposals for assessment, which is why the Ministry for Culture and Innovation decided to significantly increase the budget. Nearly half of the project proposals received are in the focus area of healthy living, and more than a third in the area of digitalisation.
The projects shortlisted for funding include promising innovations such as the further development of diagnostic methods to detect the ageing process based on specific practical criteria, the development of a manufacturing process for bacteriophage products that effectively treat antibiotic-resistant hospital-acquired infections, and the early detection and real-time analysis of safety events using artificial intelligence.
The next step for applicants who have passed the most important assessment phase is to submit their funding requests now that they have a positive pre-qualifying opinion to the NRDI Office by 15 August 2024. The final decision on Funding is expected to be announced by the end of September 2024.