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Intellitext startup incubator seeks hardware development projects

Intellitextʼs startup accelerator program is looking for startups with potential for international success in their early or seed phase, operating preferably, but not exclusively, in the field of hardware development, according to a press release sent to the Budapest Business Journal.

The company will help innovative projects with mentoring, infrastructure, and their network of connections, apart from financing. Furthermore, Intellitext has developed a partnership with Antenna Hungáriaʼs AHa! Brain Store and Budapest Metropolitan Universityʼs METU Garage accelerator programs, helping startups involved in these projects as an investor.

The Intellitext startup incubator offers an investment of up to HUF 100 million for the support of R&D activities of innovative startups. The investmentʼs aim is to provide a startup with a consistent advantage over competitors and to help in achieving a proper market share, says the press release.

The program is planning to invest a maximum of HUF 721 mln into 8-20 projects, alongside non-financial help, in order to increase the chances of success during the risky early phases.

Within the framework of the program, the best entrants of the AHa! Brain Store and METU Garage programs will also receive a capital injection.

Intellitextʼs incubation program is realized with the support of the National Research, Development and Innovation Office, within the framework of the Innovation Ecosystem program.