The programme will set up an equity fund that will allocate venture capital investments to investors and businesses that can obtain investments from angel investors or venture capitalists, which will be matched by the government funds, Bodis said.

In the Startup Factory programme, the KIM in 2023 allocated close to HUF 6b illion to ten incubators that invest in technology startups.

Of the 200 startups financed by these incubators, 90 have obtained second-round funding, and their combined revenue has exceeded HUF 10bn, the National Innovation Agency said.

Bodis said the number of active startups is between 330 and 500 in Hungary.

Hungarian and foreign participants of the Startup Factory Open Day watched presentations on the activities and operating model of organisations financing startups on site and via video conference, connecting to several European countries.


Source: MTI – Hungary’s national news agency since 1881. While MTI articles are usually factual, some may contain political bias, and readers should be aware that such content does not reflect the position of XpatLoop, which is neutral and independent.

Since the goal of XpatLoop is to keep readers well briefed, right across the spectrum of opinions, MTI items are shared to ensure readers are aware of all narratives within the local media.

XpatLoop believes in empowering readers to form their own views through complete and comprehensive coverage. To facilitate this XpatLoop has a balanced range of news partners, as you can see when you surf around XpatLoop.com

*********************************

You're very welcome to comment, discuss and enjoy more stories via our Facebook page: 

Facebook.com/XpatLoopNews + via XpatLoop’s groups: Budapest Expats / Expats Hungary

You can subscribe to our newsletter here: XpatLoop.com/Newsletters

Showcase Your Business to Expats in the Loop:

As an independent portal we’re grateful to all commercial supporters who help keep you in the loop with fresh insights and inspiration. Do you want your business to reach tens of thousands of potential high-value expat customers? If so please contact us here.