In a month's time, the Hungarian Startup University Program (HSUP), run by the Hungarian Innovation Agency (NIÜ), will close its academic year. More than 14,000 students have participated in the programme since its launch. In the first semester, 4,232 students from 33 institutions received theoretical training in innovation and start-up creation, while in the second semester, 1,717 students were given the opportunity to implement their start-up ideas and receive up to HUF 20 million in funding. The school year will close with Demo Day in July, where the most promising start-ups will be presented to investors.
The HSUP aims to provide students with the knowledge of how the innovation ecosystem works and how to start an innovative business, so that they can then develop their projects within the framework of a start-up. Accordingly, the programme is divided into two parts: the first semester focuses on learning about innovative thinking and the startup world through e-learning courses, while the second semester focuses on acquiring practical knowledge on how to build a startup with the help of academic and market experts and mentors. Students who work in a team to launch a startup in the second semester will also receive a scholarship - the top 15 teams at Demo Day will each receive an additional HUF 1 million. In addition, the most promising teams will also receive a HUF 20 million priority grant to launch their own start-up.
From this academic year, the role of the participating mentors has been expanded to support HSUP students even more effectively. Ad-hoc mentors help young people solve a business or technology problem, while key mentors are involved in the work of the teams through regular meetings, weekly video-conferences and emails.
"The mission of the Hungarian Innovation Agency is to strengthen the supply of innovative entrepreneurs and to dynamize the startup ecosystem in Hungary. The HSUP, launched in 2020, aims to achieve these goals, and we are delighted to see a steadily growing interest from students. We are continuously developing the programme based on feedback from participants: as a result, we have significantly expanded our mentor pool to support teams, the best teams will receive priority support to help them establish their startup, and next academic year we will launch the programme with a new look and feel, and a new English-language curriculum. In addition, the HSUP platform will be relaunched. With this programme and its continuous development, we aim to attract more young people to a career as an innovative entrepreneur", said László Bódis, CEO of the NIÜ.
The success of the HSUP is demonstrated by the success of the start-ups that have emerged from each project team. Startup Refilamer, for example, is developing a machine that turns plastic into filament, a raw material used in 3D printing - and they have recently found a major investor. PetWiseCare has created a platform where pet owners can connect with qualified caregivers. Startup NitroGreen produces organic nitrogen replacement products for eco- and organic farms and health-conscious retail gardens, while HoloSapiens has developed an interactive app for medical and health science students and university students that shows human anatomy in 3D.
