Short summary about startups in Hungary from 2009-2021 from the POV of Imre Hild. Also, a short summary about the shape of the ecosystem.

1. STARTUPS IN HUNGARY
2009-2021

2. IMRE HILD
1990-1993 Hungary - Tourism
1998-2003 Lehman Brothers, New York, NY (Conduit Hotel Securitization)
1993-1998 Ithaca, NY - Cornell University (B.S. & MBA)
2003-2004 Hild’s, owner (Securitization Advisory)
2005-2009 OTP Life Annuity, founder, CEO
2004-2005 Hild Life Annuity, co-founder, owner

3. OTP Life Annuity - Day 1

4. IMRE HILD
4
OTP Life Annuity, founder, CEO
1990-1993 Hungary - Tourism
1998-2003 Lehman Brothers, New York, NY (Conduit Hotel Securitization)
1993-1998 Ithaca, NY - Cornell University (B.S. & MBA)
2003-2004 Hild’s, owner (Securitization Advisory)
2005-2009
2004-2005 Hild Life Annuity, co-founder, owner
2012- 2015 iCatapult accelerator, Innovációs Szövetség
2009-2012 Primus Capital, kockázati töke alap
2015 - 2016 Digital Factory, Global Traction
2017 - 2018 Digital Startup Strategy Training Program, Innovációs Hivatal
2018 - 2019 Europe - Israel startup ecosystem cooperation framework
Startup Portfolio Superpowered / FaceKom / Webshippy / Educate / W.Y.B. / QA / Peem

5. 2007 - Kitchen incubator
2009 - Jeremie schemes ( I - VI) - no international capital
2011-12 - First Proto-accelerators
2013 - Gazella program - no
international capital
2015 - EU programs -
international capital?
2017 - 18 - Digitális Jólét Program - -
2018 - Állami alapok - - no
Hungarian Ecosystem development in a nutshell

6. WHAT IS A STARTUP?
AND WHAT ISN’T?

7. STARTUP
- Technology heavy
- Fast Scaling
- Global audience/market
SMALL BUSINESS
- Limited by owner/founder skills/options
- Often geographically limited, tied to location
- Slow and painful growth

8. Goal of a startup
1. VALUE CREATION
2. “UNFAIR ADVANTAGE”
3. GROWTH
4. EXIT - SALE - IPO

9. VALUE OF AN IDEA….

10. SIGNS OF A GOOD STARTUPS
+ Build on competence and market
understanding, NOT ON THE IDEA
+ Have passion
+ Members like and respect each other
+ Has good pedigree
+ Has ability to execute
+ Knows that opportunity is the best
source of an idea

11. + SIGNS OF A NOT-SO-GOOD STARTUP
+ Founders don’t know/respect each other
+ They only work when someone pays them
+ No skin (money) in the game
+ “They just want to develop this thing”
+ Founders are family members (yikes!)

12. Startup Operations – Running a gig
Idea Funding
Product
development
Sales

13. Startup Operations – Running a gig – for success
Market opp.
identification
Prototype a
solution
Test and
iterate
Fund Scaling

14. A jó vállalkozó fő erényei
A lehetőséget keresi, nem az ötletet
Belátja hogy nem tud mindent…
Mer és tud kérdezni
Meghallgatja, megérti a válaszokat
Strukturáltan és gyorsan felhasználja a válaszokat

15. A legnehezebb mentális feladat vállalkozóként:
Nem feltételezni
Csak tényekre alapozni az állitásokat
vagy következtetéseket

16. ELÖNYÖS ÉS HÁTRÁNYOS TULAJDONSÁGOK
Kiváncsiság és Türelmetlenség
Félelem és Kényelem

17. Funding a startup
FFF Angels
Series
X, IPO
VC’s

21. Startup development – advantage of a co-founder
+ Dissolving dilemmas, doubts
+ Reality check
+ Interesting viewpoints
+ Reasoning practices
+ Do more if you work together

22. Valuation (not Value!) of an ICT startup –
The 6 criteria that matter most
College
Incubator
Business Plan Market
Timing
Current funding
Burn Rate
B2B
City of operation
Current investor
Revenue forecasts
Internal rate of return
Number of patents
Grant money
No. of founders
B2C
Former Employer
Competitions Won

23. Valuation of an ICT startups…or guess for value creating capability
4/30/14 Source: AngelList 23

25. 2015. 08. 04.
2
5

26. Familiar?

27. SO, IS THIS ALL?
ANYTHING ELSE…?

28. Do these and you will have a startup in your hand :)
Study markets
Lose assumptions, build upon facts
Don’t wait, act fast
Break some rules
Be critical of your environment
Speed is key
Have fun
28

29. Startup Pirates
Chances of success – lets do the math
29
The Forward labs experiment
20% Great, 35% Zombie, 45% dead
18 months, 14 projects
After pivot and optimization?
= ± 0
Even good team’s good ideas do not guarantee success

30. An experiment on 200 startups

33. High Mobile adoption
Carriers could support it
Software (app) protection
Fast Technology
Need for Information
PERFECT TIMING

34. Techteamer

35. Do these and you will have a startup in your hand :)
Study markets
Lose assumptions, build upon facts
Don’t wait, act fast
Break some rules
Be critical of your environment
Speed is key
Have fun
35

37. Startup Ecosystems
IMRE HILD

38. Theoretical
Framework

39. Learn the best methods to test the
key assumptions of the startups ideas
VALIDATE
INSPIRE
IDEATE
3
2
1
Listening to best local
successful examples
Help via structured ideation events
and methodologies
Best early stage ecosystem activities

40. Theoretical
Framework

41. Best places to learn about global
startup issues
Source: Founders Institute

42. Must haves of a well functioning ecosystem
Local idols to follow
● Recognized for real
performance
● Open, inclusive
interaction with
community
● Achievable goals
Dedicated space(s)
● Startup is an urban
genre, needs physical
closeness to share
ideas, practices
● Affordable
coworking for
learning and working
Signs of Global Brands
● Law of attraction - it
is a telltale sign, not a
rootcause
● Strong correlation
between ecosystem
growth and first
signs of recognized
brands

43. Where to
meet startups
Source: Founders Institute
Events, meetups, Hackathons

44. What the
government
does
Source: Founders Institute
8 words you don’t want to hear...

45. What the
government
does
Source: Founders Institute

46. Hungarian Success Stories
Source: Founders Institute

47. Biggest lesson:
Only people can communicate and build
communities:
entities and institutions don’t.

48. HILD IMRE
hildimre@gmail.com
globaltraction.org
slideshare.net/hildimre
https://www.linkedin.com/in/hildimre/