State Increasing Support for Startup Factory Tender Program

Government

Photo by Inna Kot / Shutterstock.com

The Startup Factory tender program, which supports the development and incubation of technology startup companies, will have its funding increased, the Ministry of Culture and Innovation (KIM) announced on Friday, according to hrportal.hu. 

The ministry will provide a top-up for the program, originally announced with a budget of HUF 5 billion because more high-quality, internationally competitive applicants have submitted business plans than expected. 

As part of the program, announced in October 2023, 12 technology incubators across the country were allowed to invest their own capital, supplemented with state funds, in promising startups of their choice and to support them with business knowledge in addition to the funding.

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