HUNGARY

IC²'s GCG is partnering with ValDeal Innovations, ZRt. in Budapest.  ValDeal will be a competitive, for-profit entity serving as a model for wealth creation in a global knowledge economy. A wide spectrum of Hungarian stakeholders will benefit collectively and individually in the success of ValDeal—directly, through increased commercialization and international business development of Hungarian innovation, as well as through ownership in transferred technology commercialization know-how.

The two-year program began in January 2007 and includes an aggressive first year emphasizing the inventorying and assessment of Hungarian innovation, followed by the training of selected technology business representatives and the acceleration of international business development for promising technology enterprises. At the same time that early measurable results are being achieved in new and increased business for Hungarian enterprises, Hungarian institutions will be receiving training and guidance in technology assessment, business incubation, technology transfer from universities and research facilities, entrepreneurship education, and the creation of an effective national and international network for innovation and technology commercialization.

Major Program Components:

• Center and foundation establishment and technology recruitment.

• Assessment of critical success factors for ValDeal and selection of most promising technologies.

• Commercialization workshop for technologists, review board workshop for ValDeal, and technology competition.

• Technology assessment workshop and in-depth training with detailed assessment research and reports completed for technologies.

• Knowledge transfer for technology transfer office, incubator, innovation center/technopolis, and entrepreneurship education.

• Grand opening of ValDeal Innovations Zrt. with operational incubator and TTO (Technology Transfer Office).

• Business development of Hungarian technologies.

• Ongoing programs and support.