Value of Hungary’s Startup Ecosystem Exceeds USD 2 Billion

  • 12 Jun 2024 9:50 AM
  • Hungary Around the Clock
Value of Hungary’s Startup Ecosystem Exceeds USD 2 Billion
Hungary’s startup ecosystem was valued at $2.4 billion between July 1, 2021 and December 31, 2023, some 41% higher than in the previous two-year period, according to a joint study by the National Innovation Agency and Startup Genome, an organisation that focuses on helping startup communities globally.

The ecosystem value is the measure of economic impact, calculated on the basis of investor exits and startup valuations.

Budapest and Hungary are becoming attractive spots for startups due to a talented workforce and government support for innovation, according to the report.

It adds that tax breaks and new regulations such as employee share ownership plans and convertible notes help innovative companies to invest in R&D.

Budapest’s location also makes it easy to reach both Eastern and Western Europe, the authors add.

The strengths of the Hungarian innovation ecosystem include start-ups in AI, big data and data analytics, fintech companies and innovative deep tech companies based around life sciences.


You're very welcome to comment, discuss and enjoy more stories via our Facebook page: + via XpatLoop’s groups: Budapest Expats / Expats Hungary

You can subscribe to our newsletter here:

Do you want your business to reach tens of thousands of potential high-value expat customers?
Then just contact us here!

  • How does this content make you feel?

XpatLoop Media Partner

Hungary Around the Clock

Since 1995 Hungary Around the Clock has proven to be one of the most comprehensive sources of daily English-language news about Hungary. It covers ongoing domestic politics and foreign relations, as well as business and economic matters. For a free trial of HATC visit and click on 'Free Trial Subscription’.

Explore More Reports

  • Half of Startups are Leaving Hungary

    Half of Startups are Leaving Hungary

    • 12 Apr 2023 10:40 AM

    Half of the startups launched in Hungary have moved their headquarters abroad, mainly to the US, UK and Estonia, or are planning to move them in the coming year, according to the 2022 Hungarian Startup report.