The Startup Factory 2023 program, announced by NKFIH, aims to strengthen the Hungarian startup ecosystem, support innovative early-stage enterprises, and facilitate their entry into international markets. The program is implemented within the framework of the 2023-1.1.3-STARTUP funding scheme, financed by the National Research, Development and Innovation Fund with the support of the Ministry of Culture and Innovation.
The essence of the Startup Factory scheme is to provide capital, professional support, and a structured development environment for early-stage innovative companies through the involvement of professional incubator organizations. The program goes beyond simple financing; it offers a comprehensive incubation ecosystem in which startups receive validation, market entry, and international expansion support from experienced mentors and industry experts.
Within the framework of this program, STRT officially launched its new pre-seed investment program on February 19, 2024. The project with grant number 2023-1.1.3-STARTUP-2023-00034 received HUF 450,000,000 in funding, while the total project budget amounts to HUF 552,500,000. The objective of the scheme is to support Hungarian startups with outstanding growth potential through a structured, internationally focused incubation program.
The incubation program established by STRT provides selected companies with capital investment as well as an intensive knowledge program.
The knowledge program includes strategic mentoring, business development support, market entry preparation, access to international networks, and investor readiness training. One of the program’s most important characteristics is that it goes beyond financial support: it offers a community, a structured growth pathway, and an international outlook.
Applications are open to teams with relevant professional experience that possess an innovative idea suitable for international markets and a working prototype. During the selection process, key evaluation criteria include scalability, market size, and team competence.
The professional leadership of the program is headed by Péter Balogh, one of Hungary’s most well-known angel investors. The STRT team actively supports participating startups from the development of growth strategy through market entry and validation to international expansion.
STRT’s goal is to become a key player on the Hungarian innovation landscape while creating genuine international market entry opportunities for the incubated companies. The pre-seed scheme implemented under the Startup Factory 2023 program represents a complex support model that goes beyond investment, strengthening the domestic startup ecosystem in the long term and increasing the number of international success stories.
