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FLAGSHIP GOVERNMENT PROGRAMMES
Startup incubation

Since 2013, Hungary has launched four technology startup incubator programmes, adapting the successful Israeli
model. The core of this model is that accredited incubators select startups for development. To finance these startups,
incubators receive state capital in addition to their own private investment. Through public­private co­investment,
incubators gain equity stakes in startups, ensuring that their success also benefits the incubators.

By 2022, the technology incubator programme had supported 163 startups, with 29 exits. The total revenue
of incubated startups approached HUF 8 billion (EUR 20 million) by 2022. In autumn 2023, the NRDI Office launched a new
programme, selecting 12 winners from a record 29 applicants. Of these, seven had participated in earlier programmes,
while five were completely new incubators for the programme .

Market investments
By 2022, startups participating in the technology incubator programme had received a total of HUF 9.2 billion
(EUR 23 million) in state funding and HUF 15.6 billion (EUR 39 million) in external investment.

THE STARTUP ECOSYSTEM IN FIGURES

41%
USD 2.4 billion increase in ecosystem value compared
total ecosystem value to the previous period
(2021-2023)
(2021-2023)

USD 755 million 9.5 years
total venture capital investment average exit timeframe
(2019-2023) (2019-2023)

Source: Startup Genome, 2024

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