In the coming EU fiscal period, the Government plans to spend some HUF 140bn from EU and domestic resources on programmes aimed at bolstering the Hungarian start-up sector, Minister of State for Economic Strategy Zoltán Cséfalvay said at the conference titled “Young Entrepreneurship Week”.

The Minister of State reiterated that the Government hopes to turn Budapest into the start-up capital of Central and Eastern Europe by 2020.

In his opening speech, Israel’s Ambassador to Hungary Ilan Mor stressed that Israel places special emphasis on innovation, and the Government of Israel devotes more than 5 percent of the country’s GDP to fund research and development.

(MTI)