Hungary Cohort 9

Hungary has a dualistic economic structure where large foreign firms are responsible for a considerable scale of economic output (and RDI capacity), and SMEs lag in almost all dimensions of competitiveness. Data show that in order to become a well-functioning, innovation-driven entrepreneurial ecosystem, Hungary needs more innovative SMEs. This is a typical example of the European innovation paradox; strong research capacities and results, but low innovation performance.

MIT REAP Team Hungary’s goal is to increase the country’s regional competitiveness by enhancing the innovation and digitalization capabilities of SMEs. Building on MIT REAP concepts, Team Hungary does not intend to create new public policies or initiate a grandiose new concept of innovation-driven entrepreneurship or economic development. Rather, with the guidance of MIT faculty, alumni cohorts ́ experience, and expertise from its own five stakeholders, it intends to mobilize existing government strategies and juxtapose them with the Hungarian regional ecosystem’s business, financing, and educational experiences.