The Startup Ecosystem of Hungary

Hungary has 4 cities in the top 1000 and is the leading startup hub in Eastern Europe.

COUNTRY RANKING

Hungary’s startup scene saw an increase in 2023 and jumped 1 spot from the previous year, outranking Serbia.

Population

10.3
Million

Regional Ranking

13th
0
In Eastern Europe

Global Ranking

50th
+
1
Worldwide

Ecosystem

Startup Ecosystem Overview

brown concrete building near body of water during daytime
Hungary has numerous mature tech companies, such as well-known scale-ups Prezi, Ustream, and LogMeIn. However, in recent years, the ecosystem has not been able to keep up with its previous progress toward creating a critical mass of high-quality global startups. This is mainly the result of political and economic challenges, and the shortage of local IT talent due to brain drain.
The rift between the EU and Hungary over the country’s controversial judicial reforms have presented challenges for the country’s startup ecosystem and affect its connectivity to the region.
Yet, good news is continuing to arrive from Hungarian startups. For example, a recent exit, AImotive, is a startup specialized in autonomous vehicle technologies. While exits like AImotive are inspirational for entrepreneurs, more such success stories are required to maintain motivation in the ecosystem. There are several advantages for Hungarian entrepreneurs, including a low cost of business related overhead, a low cost of living, and proximity to the European market. Furthermore, Budapest is a popular digital nomad hub in Europe, with innovative coworking spaces and strong startup networks that attract skilled foreign entrepreneurs. The country offers the White Card Visa that allows foreign nationals who work or hold a share in a company outside of Hungary to stay in Hungary for up to two years. Another step towards attracting international talent is the Hungarian Entrepreneur Program. It enables non-European citizens to have temporary residence permits while building their businesses in Hungary.
Besides attracting talent, the government is actively involved in the ecosystem through support initiatives including Hiventures, a government-backed VC firm that became an important player in the local VC scene. There are also several government-backed incubators and JEREMIE (Joint European Resources for Micro to Medium Enterprises) funds.
Several other initiatives and organizations to support the growth of the Hungarian startup ecosystems, by both the private and public sectors, include government-backed agency Design Terminal, the INPUT program, the National Research Development and Innovation Office NKFIH, Startup Safari, and the ICT Association.

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Ecosystem

The Startup Ecosystem in Hungary

In 2023, Hungary register a rise in Education startups. Some of the most notable success stories in this industry are those of , Bitrise.

Global Rank

Hungary is ranked within the top 100 startup ecosystems globally.

Top Industries

Hungary’s startup scene is best represented in Education, Foodtech, and in Energy & and Environment.

Top Cities for Startups in Hungary - Ranked by StartupBlink
StartupBlink ranks the startup ecosystems of 100 countries and 1,000 cities. Download our latest Global Startup Ecosystem Report.
Rows:
2023 National Rank & Change ▲
Access subscores for 1000 cities and 100 countries
2023 National Rank & Change City
search leaderboards icon
Global Rank & ChangeTotal ScoreQuantity ScoreQuality ScoreBusiness Score
1st
0
134th
+
33
5.212
00.00
00.00
00.00
2nd
+
1
626th
+
137
0.328
00.00
00.00
00.00
3rd
-
1
637th
-
21
0.322
00.00
00.00
00.00
4th
0
978th
-
57
0.118
00.00
00.00
00.00
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Startups

Notable Startups in Hungary
Bitrise startup icon
Bitrise
SEON. Fraud Fighters startup icon
SEON. Fraud Fighters
Shapr3D startup icon
Shapr3D

Startups

Successful Education startups in Hungary
Codecool startup icon
Codecool
Logiscool startup icon
Logiscool
Xeropan startup icon
Xeropan

Startups

Startups Ranking by Industry

Education icon
Education
#30 worldwide

On our map, you can explore a total of 76 startups for Education.

Foodtech icon
Foodtech
#32 worldwide

In Eastern Europe, Hungary's Foodtech is in top 32. Hungary has a concentration of about 22 of the region's total Foodtech startups that are represented on our map.

Energy & Environment icon
Energy & Environment
#34 worldwide

Hungary's Energy & Environment is ranked 34th in the world. Our database contains 21 for this industry.

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