Economic snapshot of the Hungarian startup ecosystem in 2013.

1. HUNGARIAN STARTUP ECOSYSTEM, 2013
ECONOMIC SNAPSHOT OF THE HUNGARIAN STARTUP ECOSYSTEM IN 2013
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 92 startups, 43
investors, and 56 deals.

7. STARTUPS

8. YEAR OF FOUNDING
5
10
15
20
25
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013

9. TECHNOLOGY
Hungary
Silicon Valley*
Web Mobile Web+Mobile Software
* Source: Startup Ecosystem Report 2012, Startup Genome Project, 2012

10. STAGES
Hungary
Silicon Valley*
Discovery Validation Efficiency Scale
* Source: Startup Ecosystem Report 2012, Startup Genome Project, 2012

11. OPERATION
Hungary
Silicon Valley*
Bootstrapped Funded
* Source: Startup Ecosystem Report 2012, Startup Genome Project, 2012

12. ROUNDS OF FUNDING
Hungary
0 1 2 3

13. JOB CREATION
Hungary
Silicon Valley*
Discovery Validation Efficiency Scale
* Source: Startup Ecosystem Report 2012, Startup Genome Project, 2012

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

15. INVESTMENTS

16. TOTAL CAPITAL RAISED
$3.12m (€2.3m) in 12 deals

17. NUMBER OF DEALS
5
10
15
20
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
2013 2012

18. DEAL CURRENCIES
USD 240k in 2 deals,
EUR 120k in 3 deals,
HUF 608m in 7 deals.

19. TOTAL CAPITAL BY STAGE
Angel: $77k (€60k) in 1 deal
Seed: $456k (€339.5k) in 7 deals
Venture: $2.6m (€1.9m) in 4 deals

20. AVERAGE CAPITAL BY STAGE
Angel: $77k (€60k) of 1 deal
Seed: $65.1k (€48.5k) of 7 deals
Venture: $646.3k (€482.5k) of 4 deals

21. TYPES OF INVESTMENTS
Percentage
Angel % Seed % Venture %
Value
Angel $ Seed $ Venture $

22. ORIGIN OF INVESTMENTS
Percentage Value
Domestic $ Foreign $Domestic % Foreign %

23. INVESTMENT RANGES
0%
10%
20%
30%
40%
$0-$50k $50k-$100k $100k-$250k $250k-$500k $500k-$1m $1m-$2m $2m+
2012 2013

24. CAPITAL INVESTED
Finext Startup, Day One Capital
DBH Investment
Széchenyi Tőkebefektetési Alap
Day One Capital
iCatapult
Undisclosed Investors
Enterprise Ireland
Tekes, Startup Foundation
Propeller Venture Accelerator
Startup Chile
MNG International Investments
$0.2m $0.4m $0.6m $0.8m $1.0m

25. CAPITAL RAISED
OptoForce
Agorix
Virtual Call Center
Sopreso
EDMdesigner
Sighter
iLandGuide
Mixgar
Antavo
Synetiq
Quargo
Brickflow
Internfish
Bandalizer
BookBox
$0.2m $0.4m $0.6m $0.8m $1.0m

26. TRENDS

27. NUMBER OF DEALS
2
4
6
8
10
12
2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013
Angel Seed Venture

28. VALUE OF VENTURE DEALS
$20m
$40m
$60m
$80m
$100m
$120m
2010 2011 2012 2013

29. VALUE OF SEED DEALS
$100k
$200k
$300k
$400k
$500k
$600k
2010 2011 2012 2013

30. AVERAGE INVESTMENT SIZE
$3m
$6m
$8m
$11m
2010 2011 2012 2013
Venture
$150k
$300k
$450k
$600k
2010 2011 2012 2013
Seed

31. HUNGARIAN STARTUP ECOSYSTEM, 2013
ECONOMIC SNAPSHOT OF THE HUNGARIAN STARTUP ECOSYSTEM IN 2013
DATA AVAILABLE ONLINE, VISIT US AT: STARTUPS.HU
Startups.hu is currently tracking 92 Hungarian tech startups, and 56 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.