After the close of a successful spring semester with a Demo Day on July 4, local incubator Design Terminal has announced the opening of applications for its fall program, aimed at startups that provide innovative solutions to societyʼs problems.
The Demo Day on July 4 showcased the progress of the spring programʼs teams in the past three months. Some 174 teams from 30 countries applied for the spring semester, with ten teams picked to participate.
At the event, Melanie Seymour, head of BlackRock Budapest, spoke about how the entrepreneurial spirit is key for motivating constant changes, as well as leading and building large enterprises.
Two of the startups participating in the spring program have already seen their efforts come to fruitition, with Swedish team Happy at Work having won the main prize of an EUR 150,000 investment offer at the Brain Bar Blastoff startup competition with their solution for measuring workplace satisfaction. The Scandinavian startup opened an office in Budapest and expanded its team over the course of the spring semester.
The other startup, E-Med4All, working on a telediagnostics system related to heart and vascular defects, received an EUR 500,000 investment from a Dutch investment group.
The Design Terminal Demo Day Peopleʼs Choice award was taken home by ViddL, specializing in urban package deliveries. The team is in the process of conducting negotiations with a major Hungarian online store, and has already achieved 30% growth in the number of packages delivered daily.
The application deadline for the fall semester is August 4, with Design Terminal awaiting both domestic and international startups. The mentoring team consists of both Hungarian and international experts, who assist startups in developing their business models, products, and services.
The mentoring program features numerous workshops, face-to-face mentoring, and community building. Teams may even receive a stipend, and build connections with domestic and international investors and large enterprises such as BlackRock and Knorr-Bremse. Female startup founders, including expectant and young mothers, receive extra scholarship benefits.