Hungary: Entry point to Europe
Hungary has a young but fast-growing and dynamic startup ecosystem with plenty of opportunities. More than 80% of the currently active startups were founded in the past 10 years, particularly between 2014-2016. New startups are expected to grow as innovation increases and more capital becomes available from Venture Capitals and grant providers. The most propitious conditions for startup development are created in Budapest, in addition, Győr, Szeged and Debrecen have strong startup communities as well.
Accelerators, Incubators and Investors
The Hungarian ecosystem is seen as one of the top emerging ecosystems in terms of funding as the ticket sizes are continuously growing and there is a surplus of capital in the country. There is a large number of investors and funds that are government-backed, they are huge contributors to the capital stock and support to the local startup communities. The majority of institutional investors use joint EU/government cohesion funds, where usually 70% comes from public sources and 30% from private funds. Merely 8% of all startups received capital from international VCs or angel investors, therefore Hungary offers excellent, untapped opportunities for foreign investors.
