Business infrastructureEconomy & Policy

The government has adopted the National Smart Specialization Strategy

The strategy supports, among other things, a balance between value creation and efficiency.

József Bódis, State Secretary for Higher Education, Innovation and Vocational Training at the Ministry of Innovation and Technology, reported that they are working to make Hungary one of the most important innovators in Europe by 2030 by increasing the efficiency of the corporate sector. 

He added that the new National Smart Specialization Strategy, named “S3,” pays special attention to strengthening small and medium-sized enterprises and improving their productivity.

The coronavirus epidemic has shown how much potential and power lies in this sector. The stable operation of SMEs, which employ more than two-thirds of Hungarian workers, must continue to be supported, he said. 

The National Smart Specialization Strategy is valid for the development period 2021-2027; it maps national and regional strengths and defines various areas for smart specialization.

The strategy identifies eight priority areas: agri-food, health, digitalization of the economy, creative industries, resource-efficient economy, energy and climate, services, and cutting-edge technologies.

The creation and adoption of the National Smart Specialization Strategy is a milestone in enhancing the competitiveness of SMEs, supporting entrepreneurship, and exploiting strengths. 

In addition to increasing research and innovation performance, S3 is an important tool for effectively addressing the challenges of the next period, including industrial digitalization, the development of regional economies, and stronger RDI cooperation, József Bódis said. 

He added that a national network of Territorial Innovation Platforms based on university knowledge centers will be key to achieving long-term strategic objectives.

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