Hungary: A leader in Europe’s burgeoning tech scene

By August 19, 2014

Hungary has become a leader in the European tech scene, ranking among the top 5 tech economies for VC investment in Europe.

With tech innovation now one of the top ten industries of the country, Hungarian firms are not only looking to spread their influence throughout Europe, but to overseas markets as well.

One of these companies is the Budapest-based startup accelerator, Traction Tribe, whose innovative hybrid approach and reputation for careful mentorship have distinguished its accelerator program on the European scene

“Hungary is quietly building one of the stronger tech economies in Europe,” said Antal Karolyi, Traction Tribe partner and head of growth, “There’s a long history of tech and science focus here.”

The next step for Hungary, says Karolyi, is to expand globally. Traction Tribe seeks to do so by providing European startups with access to and firsthand preparation for business opportunities in the U.S. tech market. Startups go through a 3-6 month accelerator mentorship, with early seed funding of up to $100,000, training from experts with on the ground knowledge of the U.S. investment economy, and the potential for further funding after completion.

“This isn’t about exporting our talent,” says Karolyi, “so much as exposing Hungary to the world and the world to Hungary.”

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