First agricultural startup incubator launches

Incubators

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The first Hungarian agricultural incubator program has been launched with large corporate partners, co-organizer Design Terminal tells the Budapest Business Journal.

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The NAK Techlab program, organized by the Hungarian Chamber of Agriculture and Design Terminal, aims at finding the most innovative solutions in the domestic agri-food sector, making the sector more competitive, sustainable and environmentally conscious.

The participating startup companies will work together with large companies to receive real, direct market feedback. The major corporate partners of the program are Axiál Kft., Tesco-Global Áruházak Zrt., Vodafone Magyarország Zrt., Bonafarm Group, Hungrana Kft., KITE Zrt. and Hiventures Venture Capital Fund Management Ltd. After the boot camp phase, eight startups will receive the chance to work start to work with these large corporations. 

The incubation program consists of three parts, called sprints, with a total duration of three months. The 13 most promising teams were invited to the first sprint, a three-day boot camp. The eight most successful teams entered to the next stages of the program. These startups are: Agrodat, Alzagro, GosTech, Growberry, Led Lighting Kft., Moly.Net, OKOSFARM, and PigBrother.

As the next step, Design Terminal and the Hungarian Chamber of Agriculture helps with the development of participating startups and facilitate the working process with large companies through workshops, consultations, industry and external mentors.

After intense joint preparation, the results of the three months will be presented at the programʼs closing event, Demo Day, organizers tell the BBJ.

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