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Conference on funding opportunities in food innovation
23 May 2019
Modified: 28 May 2019
Reading time: 3 minute(s)
Synergies between the food industry and digital technologies have become an increasingly important area in Hungary with a high R&D and economic potential. Many public and private solutions have appeared in the market that provide funding to agricultural and food industry operators for innovation projects. These solutions were reviewed at the Food Industry Innovation Funding Conference organised for the first time on 17 May 2019, which featured speakers such as the Deputy State Secretary of the Ministry for Innovation and Technology and the Deputy President of the NRDI Office in addition to market operators, experts and investors.

Agriculture is facing increasing challenges worldwide: amid global population growth and extreme climatic conditions it is essential to enhance efficiency and disseminate innovative solutions. It is a key requirement for growth and innovation to develop not only the technological capacities but also the business and financial culture of companies, as well as to use funds consciously according to a long-term plan to ensure that the resulting solutions are sustainable and long-term profitable for the sector. The conference organised in this spirit by the Agroinformatics Cluster and the Hungarian Chamber of Agriculture aimed to present available and upcoming solutions that facilitate the creation and commercialisation of new products and innovations.

The keynote speakers were delegated by the Ministry for Innovation and Technology, the NRDI Office and the Ministry for Agriculture. Dr. Ádám Nagy, deputy state secretary for sectoral strategy, outlined the Innovation Ministry’s vision that the primary aim is to increase the quality of life of Hungarians by increasing the value added by domestic companies. This requires strong Hungarian businesses, stable jobs and rising wages through the development and sustainable operation of key sectors such as food industry. Katalin Sebők, deputy president for research and development of the NRDI Office showed the distribution of R&D spending by sector, accounting for 6% in farming, forestry and fisheries, and another 6% in food industry research and development. She also highlighted the importance of business innovation, renewable RDI strategy and the competitive funding schemes that are also available for food industry operators with a total budget of HUF 90 billion. The plenary session was closed by Dr. Beáta Olga Felkai from the Ministry for Agriculture, who outlined the relevant characteristics and expected strategic changes of the food industry.

Besides the institutional presentations, in the “Arena” session industrial and financial experts (Tamás Darabos – Hungarian Chamber of Agriculture, Ákos Koós – Bay Zoltán Nonprofit Ltd. for Applied Research, Gábor Kiss – Bonitás Investment Fund Manager, Dr. Péter Mogyorósi – LC Innoconsult, Tamás Kiss – NRDI Office) could exchange experience and their views on how to increase the innovation potential of the Hungarian agriculture. This was followed by a panel discussion where funding and market building success stories were shared by prestigious companies from the sector.

 

Food Industry Innovation Funding Conference, 17 May 2019
The Conference organised for the first time, which featured speakers such as the Deputy State Secretary of the Ministry for Innovation and Technology and the Deputy President of the NRDI Office in addition to market operators, experts and investors.
Updated: 28 May 2019
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