The startup hubs of Central and Eastern European nations are rapidly being recognized as home to undiscovered yet promising startup ecosystems. Hungary is no different. Hungary has numerous advantages, including a strong innovation culture, numerous highly-skilled talents, increasing startup funding, and proximity to significant European markets. All of these factors contribute to Hungary's robust startup environment, comparable to others in the CEE region.
In this article, we have compiled a comprehensive list of all incubator and accelerator programs in Hungary, along with a short overview to help you find a suitable program. The incubators and accelerators in this list have been subdivided into applicability for startups in their 'ideation', 'launch', or 'growth' stages.
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FULL LIST OF STARTUP INCUBATORS AND ACCELERATORS IN HUNGARY
Ideation Stage Startup Incubators in Hungary
Full list of ideation-stage startup incubators in Hungary:
Who is it for: Early startup with a team
Need to have an idea: Yes
Focus: eCommerce, e-Health, Big Data / AI
Digital Factory incubator provides startups with the required knowledge, guidance, and capital to help them grow into successful and worldwide businesses. The incubator provides mentorship from a network of experienced business professionals; enabling the transfer of knowledge gathered through years of business experience. If you need help with professional and developmental strategies, you can ask mentors for direct feedback. Furthermore, the incubator also offers investments of up to EUR 180,000 for each startup.
Who is it for: Early startup with a team
Need to have an idea: Yes
Focus: BioTech, MedTech, Medical IT, Life Sciences
Creative Accelerator is a life-science-focused incubator/accelerator that aims to assist the originators of life sciences technologies in becoming dominant market players through their guidance and funding. To that end, they provide practical knowledge, a worldwide network of contacts, and effective management to startups based on their expertise in the sector.
Who is it for: Early startup with a team
Need to have an idea: Yes
Focus: AgriTech
The NAK TechLab program is an innovation initiative of the National Chamber of Agrarian Economy that focuses on the digital transformation of Hungarian agriculture. Through their numerous programs, they assist entrepreneurs in growing by sharing agricultural knowledge, connecting with investors, or providing validation assistance. Their three-month incubator program provide a platform for agricultural enterprises to collaborate with young Hungarian startups to build innovative and breakthrough digital agricultural solutions. As a result of the collaborative effort, entrepreneurs can obtain new clients, practical and professional experience, and a network of connections.
Who is it for: Early startup with a team
Need to have an idea: Yes
Focus: Sector Agnostic
Start it @K&H is a startup incubator in the heart of Budapest. They provide ongoing mentorship, coaching, training, and office facilities to businesses and innovative entrepreneurs selected for their incubator program. The specialist team at Start it @K&H will assist you by facilitating knowledge transfer and leveraging their local and international market expertise. The best part is that the program is entirely free of charge.
Who is it for: Early startup with a team
Need to have an idea: Yes
Focus: Technology
Drukka is a comprehensive startup studio that provides early-stage startups with financing, coaching, end-to-end software development, and marketing support. If you apply to their program and they determine that your idea is marketable but not yet ready for investment, they will help you develop your concept as a commercially viable startup to submit to investors. This includes assisting you with startup validation, business model creation, market access preparation, product development, and pitching. If your idea is accepted, they will assist you in realizing it and bringing it to market with a maximum investment offer of HUF 100 million and participation in their 3-12 month acceleration program.
Who is it for: Early startup with a team
Need to have an idea: Yes
Focus: Technology
The Startup Campus Incubator seeks to help Hungarian and European early-stage innovative startups to boost their market penetration by promoting knowledge exchanges. Through their incubation program, startups may benefit from comprehensive business consultation, personal mentoring, and training from seasoned experts. Startups may also be able to obtain financial assistance and network with investors and international partners.
Who is it for: Early startup with a team
Need to have an idea: Yes
Focus: Technology
Virgo Ventures is a tech incubator founded by Virgo Systems and CEIS which provides support for startups in the early stages of digital product and business development. They are not investors, but rather professional partners who would like to offer their sector expertise and professional IT and commercial know-how through hands-on coaching. They also provide financing of up to EUR 250,000. Their primary areas of interest include AI, Big Data & Analytics, Cybersecurity, Fintech, Edtech, Digital Media, Adtech, Creative Industries, Health & Wellness, Art-Tech, IT, Ecommerce, HR Tech, IoT, or Business Operation solutions
Launch Stage Startup Incubators and Accelerators in Hungary
Full list of launch stage startup incubators and accelerators in Hungary:
Who is it for: Early startup with a team
Need to have an idea: Yes
Focus: Blockchain for AgriFood, Logistics, Finance
Block.IS is an acceleration program that aims to promote the application of blockchain technology in three critical areas for the European economy: agrifood, logistics, and finance. They hold open calls to advance the most promising blockchain ideas in order to assist market adoption and expand the impact of these innovations/solutions. The program provides personalized business and technical assistance as well as a direct investment to startups from ideation to commercialization.
Who is it for: Early startup with a team
Need to have an idea: Yes
Focus: Health
Health Venture Lab is a global network that encourages ambitious teams to solve real-world health challenges through various programs. They conduct a series of sprint-based accelerators and entrepreneurship courses that provide coaching and tools for Healthtech businesses to be market-ready; assisting their path from product-market-fit to full-scale adoption.
Who is it for: Early startup with a team
Need to have an idea: Yes
Focus: Multiple Sectors
Design Terminal is a global innovation organization that focuses on entrepreneurship development. They identify innovation issues and connect the most promising individuals with creative ideas to collaborate on solutions that benefit the community. Their flagship incubation program provides entrepreneurs with professional assistance, community building, and mentorship by local and international experts. They also run a three-month accelerator program for international entrepreneurs focused on social good in sports and healthcare, working and learning, mobility, and urban development.
Who is it for: Early startup with a team
Need to have an idea: Yes
Focus: Technology
OXO Labs is a startup accelerator that is a part of OXO Technologies Holding, a European-listed technology investor. OXO Labs' initiatives include both assisting and mentoring early-stage tech ventures, as well as sponsoring such projects to accelerate their growth and market entry. The programs may include pre-seed and seed investment to fund startups' creation of MVP-level products and assessment of product-market fit. The program will also help startups prepare for future investment rounds and connect with a network of investors. Aside from general acceleration services, OXO Labs also offers industry-specific incubation programs in cybersecurity, sporttech, esport, egaming, and leisure and tourist sectors.
Growth Stage Startup Accelerators in Hungary
Full list of growth-stage startup accelerators in Hungary:
Who is it for: Mature startup with a team
Need to have an idea: Yes
Focus: Banking
The OTP Startup Booster Program is a program by OTP Bank, the largest commercial bank in Hungary and one of the largest financial service providers in the CEE region. The program is targeted at later-stage startups or scale-ups with validated products to build a partnership with OTP Bank. The program begins with a 3-month pilot phase, followed by admission to a 6-month rollout phase aimed at enabling the full-scale, live integration of the tested solutions into the bank's operations. Through specialized training and mentorship in the program, startups can improve their product, expand their businesses, and broaden their network.
Who is it for: Early startup with a team
Need to have an idea: Yes
Focus: Technology
Traction Tribe is a startup accelerator that assists European startups to soft-land in the US market. With offices in Budapest, Hungary; Nevada, USA; and California, USA, they assist international enterprises in breaking down entry barriers to the United States. They provide investments, coaching, PR support, co-working space, and contacts to high-profile American individuals which may lead to pilots and market validation prospects.
Closing Thoughts on Startup Incubators and Accelerators in Hungary
Hungary today boasts upwards of 2,900 start-ups, indicating a promising start to a burgeoning entrepreneurial ecosystem. With stakeholder collaborations leading the initiatives for startup support programs, local entrepreneurs can continue to innovate new ideas, technologies, and firms in Hungary and expand this already thriving startup ecosystem.