K&H: At Takarékláng, innovation is at the doorstep of Hungarian companies

By: Trademagazin Date: 2023. 02. 06. 11:21

In the past two years, there has been hardly any change in the already restrained innovation activity of Hungarian companies. Research and development, innovation and environmentally friendly investments are mostly characteristic of the large corporate sector. The tender system does not stimulate innovation either. K&H’s innovation index indicates stagnation, there is little light at the end of the tunnel, and it is only flickering.

“Innovation is the key to corporate competitiveness and there is no cause for celebration in this respect”

‒ stated Balázs Németh, K&H’s head of innovation, on the occasion that K&H’s innovation index and the second semester survey supporting it were completed.

The K&H innovation index fills a gap because it shows from time to time where the Hungarian economy stands in the innovation competition and what developments the main actors of the economy are preparing for the future.

In the framework of the survey, many of the surveyed companies reported that they had engaged in significant innovation activities in the past two years. Compared to the first half of 2022, eight percentage points more companies indicated that they introduced a new (or significantly improved) product or service in the two years prior to the survey. This activity was characteristic of almost every other business. The innovative attitude was mostly typical of companies operating in the central Hungarian region with a turnover of between HUF 300 million and HUF 1 billion.