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Umbrella agreement to support startups

The Hungarian Export Promotion Agency (HEPA) and global business incubation program Startup Campus on Thursday announced an umbrella agreement that will help local startups get a foothold on foreign markets, Hungarian news agency MTI reports.

The agreement was signed by Hello Tomorrow, a global non-profit that brings breakthrough technology to market; Hiventures, the venture capital fund manager of the Hungarian Development Bank (MFB); MVM-Smart Future Lab, an incubator program of the state-owned Hungarian Electricity Works (MVM); Tungsram, a multinational lighting company based in Hungary; Valor Hungariae, a state-owned company that aims to keep innovative Hungarian ideas in the country and foster them; HEPA and Startup Campus.

It will serve to expand HEPA and Startup Campusʼs joint program for taking startups abroad, Startup Campus Hungary.

The program, launched in September, offers startups support with local seminars and complex services abroad through Startup Campus offices in Berlin and London.

So far, the program has helped more than 50 businesses, said Startup Campus managing director Zsolt Kovács.