Hungary: Program to boost venture capital investments

Ecosystem

The New Hungary Venture Capital Program, a state-sponsored scheme to encourage investments in SMEs and in high-growth sectors, is expected to give the country’s venture capital sector a big boost, Csaba Zoltán, who heads guarantor Start Tőkegarancia, told MTI on Monday.

The program, which will start soon, has already caused a big expansion in Hungary’s venture capital sector: seven of the country’s nine venture capital companies were established just last year, Zoltán said. Venture capital companies made 30 investments in Hungary in 2002-2007, including twelve in 2007 alone, he added. About Ft 46 billion in EU funding will be available under the program. Venture capital companies must put up at least one-third of the investment to participate and investments will be limited to an annual €1.5 million. The program could result in as many as 260 investments worth a combined Ft 65 billion, Zoltán said. (MTI-Econews)

ADVERTISEMENT

Climate change hurts economy, but creates new business oppor... Analysis

Climate change hurts economy, but creates new business oppor...

Lawmakers approve 2022 budget Parliament

Lawmakers approve 2022 budget

Dentons rehires banking and finance partner Appointments

Dentons rehires banking and finance partner

Budapest launches revamped coupon card for visitors City

Budapest launches revamped coupon card for visitors

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.