More than 1500 students successfully started their start-ups in the spring semester
The Hungarian Startup University Program (HSUP), run by the National Innovation Agency (NIA), has closed its academic year. More than 15,000 students have participated in the programme since its launch. This year, 4,232 students from 33 institutions completed the first semester of HSUP, which provides theoretical training in innovation and start-up creation, while in the second semester, students developed nearly 180 start-up ideas, of which the 15 best teams will win a HUF 1 million scholarship and the top 4 teams will receive HUF 20 million in start-up funding.
The HSUP aims to provide students with the knowledge on how the innovation ecosystem works and how to start innovative businesses, so that they can then develop their projects in the framework of a start-up launch. Accordingly, the programme is divided into two parts: the first semester is dedicated to introducing students to 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. In the second semester just ended, the largest number of students enrolled in the programme came from Széchenyi István University in Győr (295 students), Corvinus University of Budapest (243 students) and the Budapest University of Economics (152 students).
Students who worked in a team to launch a start-up in the second semester also receive a scholarship: this year, 178 project managers and 340 team members, plus 1199 students completed the semester independently. Of the 178 project teams, 167 have contributed to the evaluation of their progress report, and the 15 most promising teams will qualify for the Demo Day, which will effectively close the academic year in July, with a prize of HUF 1 million each. The top 4 teams will also receive a €20 million start-up grant.
From this academic year, the role of the participating mentors has been expanded to support the work of 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. In the 2023/2024 academic year, a total of 70 key mentors and 68 ad hoc mentors supported the teams.
The programme is also being further developed. From September onwards, HSUP will be available in English, the curriculum and the branding will be updated, and HSUP Advanced will be launched. "We are currently working on launching the HSUP Advanced scholarship programme from September. This is basically for doctoral and post-doctoral students and researchers to support them in starting their businesses and bringing their ideas to market. It is crucial that we promote innovation not only among undergraduate and masters students, but also among researchers, so that if they find a good problem and a good solution, they can take it to the market and get support and help. This is exactly what HSUP Advanced will serve", said László Bódis, CEO of the NIÜ.
The success of HSUP is demonstrated by the success of start-ups that have emerged from a project team. Startup Refilamer, for example, is developing a machine that produces filament, a raw material for 3D printing, from plastic - 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.
