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Govʼt to support startup incubators with HUF 2 bln funding

Startup incubators will be able to apply until September 18 for HUF 2 billion of funding through the "Startup Factory" program organized by the National Research, Development and Innovation Office (NKFIH), NKFIH head Zoltán Birkner said at a press conference on Wednesday, according to a report by Hungarian news agency MTI.

Organizations applying for funding could get HUF 150-300 mln of grant money, successful applicants for the program will be announced in Q4, he added.

Startup Factory provides technology incubators with the opportunity to continue their activities, applications will be limited to incubators who have previously received funding or were shortlisted for support and have continued to function for the past three years.

Supported incubators should help innovative startups from the idea phase through prototype development to commercialization and help them develop a sustainable business model.