Corvinus University signed a cooperation agreement with US-based fund manager BlackRock’s Budapest innovation and technology centre. BlackRock Hungary managing director Melanie Seymour and Corvinus University rector András Lánczi signed the agreement. Innovation and Technology Ministry state secretary László György said the agreement is the symbol of the “change of system” at Hungarian institutions of higher education. The government is setting up an asset management foundation to fund Corvinus University, and the state will contribute 10% of its stakes in oil and gas company MOL and pharmaceuticals company Richter to the foundation. Corvinus and BlackRock will cooperate primarily in education and research, Lánczi said. The aim is to ensure premium education, György said, “on par with ‘sanctuaries of education’ in the US, the UK, Singapore and Japan”.