A panel of experts has announced the teams chosen for investment in METU Garage, the startup program of Budapest Metropolitan University (METU) and Drukka Startup Stúdió, with the eight winners receiving an investment offer and four months of incubation services.
The startup acceleration program, which was announced this summer, aims at helping the realization of innovative solutions in the fields of multimedia, IT/telecoms, the creative industry, tourism and hospitality, HR and HR technologies, interior architecture, and design, says a press release sent to the Budapest Business Journal.
Some 11 teams out of 100 applicants were chosen for participation in a full dayʼs boot camp, holding individual presentations, as well as participating in individual and group workshops.
Four of the boot camp teams have a connection to Metropolitan University, with members who are current or former students of the institution.
After the boot camp, a counsel of the directors of Drukka, Intellitext, and METU picked the eight teams which will receive an investment offer from Intellitext. Furthermore, all teams participating in the boot camp had the opportunity to participate in the four-month incubation program.
The eight projects chosen for investment are AI Venture (AI-based call center app), Espressite (AI-based web designer), Dronwars (gaming app for drones), Nexter (streaming app for night parties), DokiApp (online medical advisory app), Share for Help (community viral marketing app), Playsic (community music player), and Ubartrend (food and drink ordering app for mass events).
"The definite aim of Budapest Metropolitan University is to strengthen the entrepreneurial spirit and way of thinking among the young generation, as it is indispensable for the continuous adaptation and successful performance in todayʼs knowledge-based economy," says Zoltán Csaba, strategic director of METU. "We already consider the METU Garage program a success, as we managed to achieve significant interest from talented youth, which is reflected in the great number and quality of applications. The chosen projects give striking answers to relevant problems with the application of modern technologies, and they have the chance to become successful international companies."
The ideas of METU Garageʼs applicants were evaluated by the universityʼs academics and other renowned professionals. Intellitext supports each chosen innovative startup with an investment of up to HUF 60 million, with METU and Drukka providing professional mentoring alongside the four-month acceleration period. Companies completing the four months receive a "Startup Academy miniMBA" certification.