1. HUNGARIAN STARTUP ECOSYSTEM, 2012
ECONOMIC SNAPSHOT OF THE HUNGARIAN STARTUP ECOSYSTEM IN 2012
STARTUPS.HU

2. WHY?

3. We are living in a golden age of digital
entrepreneurship, when tools and capital
needed to transform concepts into reality
are accessible to more people than ever.
Never before has it been cheaper and easier
to start a company and attract potential
customers from all over the world.

4. High growth technology startups look to be
the primary growth engine of the new
information economy. With that in mind, it is
utterly important to analyse the economic
profile and performance of startups, all with
the goal of helping entrepreneurs, investors,
and policy makers understand how they
compare to the global startup ecosystem.

5. HOW?

6. RETROSPECTIVE
ANALYSIS
How did the factors of
the Hungarian ecosystem
develop over the years.
QUALITATIVE
STUDY
Interviews with founders,
investors and support
organisations.
QUANTITATIVE
STUDY
Statistical analysis of data
from 79 startups, 27
investors, and 44 deals.

7. STARTUPS

8. 5
10
15
20
25
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
FOUNDING

9. TECHNOLOGY
Hungary
Silicon Valley
Web Mobile Web+Mobile Software

10. STAGES
Hungary
Silicon Valley
Discovery Validation Efficiency Scale

11. JOB CREATION
Hungary
Silicon Valley
Discovery Validation Efficiency Scale

12. EMPLOYEES
1
2
3
4
5-9 10-14 15-19 20-29 30-49 50-99 100+

13. OPERATION
Hungary
Silicon Valley
Bootstrapped Funded

14. INVESTMENTS

15. TOTAL CAPITAL RAISED
$11.5m (€8.1m) in 18 deals

16. DEALS
5
10
15
20
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

17. AVERAGE CAPITAL BY STAGE
Angel: $20k (€14k)
Seed: $59.4k (€45.9k)
Venture: $1.1m (€772.8k)

18. CURRENCIES
USD 1.3m in 5 deals,
EUR 1.6m in 3 deals,
HUF 1.9bln in 10 deals.

19. INVESTMENT RANGES
1
2
3
4
5
0-50k 50k-100k 100k-250k 250k-500k 500k-1m 1m-2m 2m+

20. ORIGIN OF INVESTMENTS
% Domestic % Foreign $ Domestic $ Foreign

21. CAPITAL INVESTED
Primus Capital
PortfoLion
Euroventures
DoubleRock Venture Capital
Biggeorge’s-NV
DBH Investments
Day One Capital
Széchenyi Tőkebefektetési Alap
Bethesda
InvestLife, Phoenix Investment
Seedcamp
Start-Up Chile
Colabs Seed Program
Startup Wise Guys
$1m $2m $3m $4m $5m

22. CAPITAL RECEIVED
Replise
Tresorit
Remagine
Real5d
Multipass Solutions
Boadree
Hand-in-Scan
Flan-Tech
Mobilengine
iDeaPool
Mixgar
Antavo
Brickflow
Internfish
Bandalizer
$0.5m $1.0m $1.5m $2.0m

23. DEAL HISTORY
5
10
15
20
2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
Angel Seed Venture

24. HUNGARIAN STARTUP ECOSYSTEM, 2012
ECONOMIC SNAPSHOT OF THE HUNGARIAN STARTUP ECOSYSTEM IN 2012
DATA VAILABLE ONLINE, VISIT US AT: STARTUPS.HU
Startups.hu is currently tracking 79 Hungarian tech startups, and 44 related
investments. We are also tracking the economic profile of these Hungarian startups,
which we plan to release as annual reports. Feel free to use our data, and remember
to credit the site as your source.
Startups.hu was established in an effort to build an extensive database of Hungarian
startups, their economic performance, and the hard working entrepreneurs behind
them. We want the site to become the source of an informed overview of the startup
ecosystem in Hungary.
Our goal is to make the Hungarian startup ecosystem transparent and predictable,
thus more attractive for international venture capital.