ICT & HUNGARY

ICT in Hungary

Hungary, the best place to invest in ICT

Hungary’s ICT industry currently represents 12% of the national GDP, and is growing by a stable rate of 4.3% per year.

Over the past two decades, the country has transitioned to electronic operations, and is ready to provide wide-scale e-services to its citizens. E-government has benefited from innovation and digital transformation in areas such as tender management, taxation, document management, transportation, public administration and agriculture.

As a member state of the European Union, Hungary can benefit from different EU programmes within the field of ICT.

One of the main sources is the Europe 2020 flagship initiative, which is aimed at securing Europe’s global competitiveness. Horizon 2020 is the financial instrument implementing the Innovation Union, running from 2014 to 2020 with an almost €80 billion budget. The EU programme for research and innovation is part of its drive to create new growth and jobs in Europe.

SMEs – young and small enterprises with high innovative capacity

SMEs play an important role in the economy, and in particular in the development of new products and services, economic growth and job creation. SMEs are not merely a ‘scale model’ of a large corporation. Their specific contribution to the economy, due to their flexibility, innovativeness and employment potential, has already been widely recognised.

SMEs maximise profitability by adapting quickly to the changing needs of the market, prioritizing short-term management and flexibility.

One of the key concerns of the Hungarian government is to provide a balanced and predictable business environment where SMEs can easily find support or exploit business opportunities.

As a result of these efforts, a unique platform can be established for the local innovation ecosystem, offering opportunities for innovative businesses to showcase their latest products and services to an audience of entrepreneurs, industry experts, investors, and representatives of the media in a friendly environment that is as exciting for start-up entrepreneurs and digital industry experts as it is for investors.