A recent article published by Forbes places Budapest, the capital city of Hungary, among the five developing entrepreneurial centers in Europe, along with Eindhoven, Tallinn, Lisbon and Lithuania. The Hungarian business market attracts many foreign investors from Central and Eastern European (CEE) but also from other regions. Budapest is now acknowledged as an important entrepreneurial hub for start-ups and foreign investors.
Successful Hungarian start-ups
There are many Hungarian companies
that started their businesses locally and in time reached an international expansion. An eloquent example is CryptTalk, a company that activates in the telecommunication industry.
Other companies that started their business activities in Hungary and have taken their products into global markets are the following: Ustream, LogMeIn and Prezi. These are well known companies, that inspire many Hungarian entrepreneurs and influence the country’s startup culture.
Budapest – an important Start up Hub
Forbes also mentions the European Entrepreneurship Foundation, an organization that helped develop the entrepreneurial sector in Hungary. Founded by Peter B. Záboji, this organization has been running various programs and events addressed to Hungarian entrepreneurs and businessmen for the last seven years .
The foreign investors and businessmen
interested in starting businesses in Hungary
should decide firstly the industry they want to invest in. The main industries that sustain Hungary’s economy
are the following:
- the automotive sector;
- the electronics industry;
- the pharmaceutical industry;
- the IT&C industry;
- the food industry.
Starting a business in Budapest