A total of HUF 45 million has been awarded to the most promising university innovation projects under the Hungarian Startup University Program (HSUP). The two semester-long university courses run under the auspices of the Hungarian Innovation Agency (NIÜ) ended with Demo Day. At the event in Budapest, 15 teams presented their innovative projects to a jury of renowned experts, and the most promising of them were awarded professional prizes. The Demo Day also included a presentation of the changes to be introduced from next academic year, the modernised curriculum, the new image and the announcement of the launch of the HSUP Advanced programme for doctoral students and researchers in postdoctoral programmes in the autumn.
Now in its fourth year, HSUP is a two-and-a-half-year, gap-filling university course that aims to equip university students with the knowledge of how to successfully start a business and how the innovation ecosystem works, after which the best project proposals will be awarded a scholarship to develop their ideas into a start-up. Accordingly, the programme will be divided into two parts: the first semester will introduce students to innovative thinking and the startup world through video-based e-learning courses, while the second semester will focus on gaining practical knowledge on how to build a startup with the help of academic and market experts and mentors. Each year, the programme ends with a Demo Day, where the 15 most marketable projects (178 project teams in 2024) are presented to a jury of investors and start-up experts.
Each member of the project teams received a HUF 1-1 million grant (for 3 to 3 members of the 15 teams, worth a total of HUF 45 million), and the jury also made various professional offerings to the best projects at the end of the event.
Market Access Support and HSUP Advanced
Several changes to the programme were announced during Demo Day. During the autumn, all HSUP projects to date will have the opportunity to apply for a project grant of up to HUF 20 million. "The aim of the grant is to support product development and market entry, for which start-ups founded by previous years' HSUP participants with the aim of bringing a project developed under the programme to market can apply. The call for applications will be launched in September, with the one-year project period expected to start in 2025," said László Bódis, CEO of the NIÜ.
The HSUP Advanced programme will also be launched in the autumn. The Advanced programme, aimed at doctoral students and researchers in postdoctoral programmes, aims to promote the creation of start-ups based on new research results or new technological solutions through a sabbatical-style training and fellowship programme offering financial and working leave. To this end, participants will acquire skills in technology transfer and the commercialisation of new technologies, as well as support for the development work necessary for their technical implementation.
HSUP new image
At the event, Mátyás Kutni, Director of Education at the National Innovation Agency (NIA) also presented the new HSUP identity. The new look also marks a new beginning, as from next academic year the programme will be entirely in English.
"In the new HSUP logo, the circle symbolises both the promotion of constant development and growth, and the encouragement and maintenance of entrepreneurship. The programme aims to provide comprehensive knowledge and support in all aspects of innovative business development. But the circle is also a symbol of community and cohesion: collaboration, teamwork, inter-institutional interoperability and mutual support are key to HSUP. The programme supports this in all areas: with the curriculum, which will now also help internationalisation by being available in English; with mentors to help participants through the difficulties; and with the credits and scholarships available to help them succeed in university work," said Mátyás Kutni.
The list of teams presenting at Demo Day 2024 is available here.
