Hungarian Innovator trademark
Zenitech has been awarded the Magyar Innovátor (Hungarian Innovator) trademark in the IT/Technology category by the Innovation Coalition, a partnership comprising Hungary’s Ministry of Culture and Innovation (KIM), Hungarian Chamber of Commerce and Industry (MKIK), Hungarian Innovation Association (MISZ), Magyar Nemzeti Bank (Hungarian National Bank), and Ministry of National Economy (NGM).
The Hungarian Innovator trademark was created to organise and celebrate a community of innovative Hungarian companies (across all sectors) and provide focused support for their development. Only approximately 1,100 companies, representing just 0.3% of active Hungarian businesses, qualified for this distinction.
Zenitech’s executive Gabor Fauszt accepted the award at a high-profile public event where awarded companies were celebrated in front of Hungary’s top economic and innovation leaders, including the President of the Hungarian National Bank and the Minister for Innovation.
Gabor said “We are extremely proud to receive the Hungarian Innovator recognition. This award validates the strength of our cross-functional collaboration culture, as well as our strong university partnerships and sustained commitment to research and development. Active R&D and innovation initiatives are currently underway at Zenitech, and this award reinforces our ambition to remain at the forefront of applied AI and digital transformation”.
IT/Technology sector recognition
The IT/Technology category recognition holds particular significance for Hungary’s economic development, as the technology sector plays a crucial role in driving innovation, export growth, and competitiveness in the global marketplace. This award acknowledges Zenitech’s engineering and innovative culture and our contribution to strengthening Hungary’s position as a regional technology hub.
Selection methodology
The selection of companies was based on research by the Massachusetts Institute of Technology (MIT), which was fine-tuned to Hungarian specificities by the Magyar Nemzeti Bank. Companies awarded the trademark met two criteria: their competitiveness must be based on innovation, and they must have translated that innovation into economic success and significant revenue growth in the 2020s.
Economic impact
According to the Magyar Nemzeti Bank’s Growth Report, innovation-driven companies in Hungary accounted for 13% of total Hungarian gross exports and 22.8% of domestic annual GDP growth between 2009 and 2019. Compared to the average Hungarian company, these firms demonstrate 43 times greater export performance.