Gov't Relaunches Subsidy Scheme for Startup Incubators
Hungary's National R&D&I Office has relaunched a program to fund startup incubators with an allocation of around HUF 5 billion, the Culture and Innovation Ministry said on Friday, according to a report by state news wire MTI.
The Startup Factory program, launched in 2013 and now in its fourth round, targets incubators that invest in technology startups.
Part of the funding will be directed at defense industry startups, the report says.
Close to 200 ideas have been funded in the framework of Startup Factory and around 90 startups have gone on to get second-round funding. More than 10 have attracted foreign investment.
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.