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Medical university to set up incubator in Budapest

Semmelweis Innováció, a company set up by the Semmelweis Medical University (SOTE), and Primus Capital Venture Capital Fund Manager plant to spend several hundred million forints to open a business incubator in Budapest in the first quarter of 2010, the two companies told MTI on Thursday.

The incubator will start out with HUF 50 million-100 million of capital, but this amount - excluding the cost of the property - could rise to several hundred million forints later, said Primus Capital managing partner Zoltán Bruckner. He added that the founders wanted to draw on EU funds as well as grants from the National Research and Technology Office. (MTI-ECONEWS)