Hungarian SMEs Are Growing More Innovative, According to HPO

Hungarian SMEs have become more active in registering inventions and patents, according to the Hungarian Patent Office’s latest report.

The report says that in 2009, domestic patent number reached 756, while in the previous years this number had barely reached 700.  The improving statistics suggest that the economic crisis and more adverse conditions stimulated the inventiveness of Hungarian SMEs.
Enhanced dynamics in innovation may also be related to the government’s innovation support schemes, launched a few years ago, which have born fruit recently. Besides, the patent procedures have also accelerated,  which improved companies’ willingness to innovate. According to Gyögy Vadász , co-president of the Hungarian Industrial Association, ”innovative thinking will sooner or later permeate the thinking of Hungarian SMEs, as today they must compete with domestic and foreign companies alike.” Trademark declarations however, have decreased between 2007 and 2009 by 10 pct, from 3,615 to 3,240.

News Monitoring