STARTUP ECOSYSTEM

Hungary Startup density

Hungary’s Thriving Startup Ecosystem

Hungary’s startup ecosystem has evolved into a key player in Central and Eastern Europe (CEE), driven by a supportive business environment, strategic government initiatives, and a growing pool of entrepreneurial talent. The country’s dynamic ecosystem has attracted both local and international investors, fostering innovation across diverse tech sectors.

Global Startup Ecosystem Ranking: Hungary’s Emerging Influence

In 2023, Hungary ranked 50th globally and 12th in Eastern Europe according to StartupBlink’s Global Startup Ecosystem Index. Budapest, the country’s capital, stands out as the leading tech hub, placing within the Top 20 European ecosystems for affordable tech talent. This reflects the country’s ability to attract and retain highly skilled professionals at competitive costs.

Hungary also ranks high in the Global Innovation Index, showcasing its research and development capabilities, particularly in AI, deep tech, and life sciences. This performance underscores its growing influence in the global innovation landscape and its potential as a top destination for tech-driven ventures.

Regional Ranking Reports: Growth and Value in the CEE Region

Hungary has experienced substantial growth in its startup ecosystem, with key sectors such as fintech, AI, and cybersecurity driving the surge. Notably, Hungary ranks 6th in CEE for venture capital investment, benefiting from strong government-backed innovation funds and EU funding programs like Hiventures and Startup Hungary.

Budapest alone accounts for over 85% of Hungary’s startup activity, offering a dense network of accelerators, incubators, and tech hubs. The city’s expanding ecosystem is supported by initiatives like the Budapest Innovation Voucher Program, which connects startups with research institutions and global tech companies.

Total Number of Startups and Ecosystem Valuation

As of 2023, Hungary boasts over 1,500 active startups, representing a diverse range of industries from SaaS and edtech to medtech and logistics. Despite a 60% decline in VC investments from 2022 to 2023, the ecosystem remains resilient, particularly in early-stage funding rounds.

Hungary’s startup ecosystem value reached €2.4 billion in 2023, driven by breakout success stories like SEON (a cybersecurity unicorn) and Commsignia (an automotive tech leader). The government’s focus on R&D tax incentives, public-private partnerships, and international networking events continues to fuel the sector’s expansion.

Sources:

2025-02-11T16:41:07+01:00

Hungary Startup density

Hungary’s startup ecosystem has evolved into a key player in Central and Eastern Europe (CEE), driven by a supportive business environment, strategic government initiatives, and a growing pool of entrepreneurial talent. The country's dynamic ecosystem has attracted both local and international investors, fostering innovation across diverse tech sectors.

2025-02-11T16:50:14+01:00

Hungary Export/Import Ratio

Hungary, a Central European nation bordered by Slovakia, Ukraine, Austria, Romania, Serbia, Croatia, and Slovenia, experienced notable trade dynamics in 2023. The country exported goods worth US$160.8 billion, marking a 31.6% increase from 2019’s $122.2 billion and a year-over-year rise of 7.3% from $149.9 billion in 2022. Simultaneously, Hungary imported goods valued at $148 billion, a 6.55% decline from $159 billion in 2022. This trade activity resulted in a $12.8 billion trade surplus, reversing the previous year’s $9.1 billion deficit.

2025-02-11T16:47:36+01:00

Hungary Innovation index

Hungary continues to strengthen its position in global innovation through strategic investments in research and development (R&D), patent activity, and high-tech industries. The Global Innovation Index (GII) 2024 ranks Hungary 36th out of 133 economies, a slight decline from 35th in 2023. Despite this small drop, Hungary remains one of the most innovative economies in Central and Eastern Europe (CEE) and maintains a strong high-income economy status.