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Gov't Relaunches Subsidy Scheme for Startup Incubators

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.

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