hungarian startup ecosystem 2013
TRANSCRIPT
HUNGARIAN STARTUP ECOSYSTEM, 2013
ECONOMIC SNAPSHOT OF THE HUNGARIAN STARTUP ECOSYSTEM IN 2013
STARTUPS.HU
WHY?
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.
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.
HOW?
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.
STARTUPS
YEAR OF FOUNDING
5
10
15
20
25
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013
TECHNOLOGY
Hungary
Silicon Valley*
Web Mobile Web+Mobile Software
* Source: Startup Ecosystem Report 2012, Startup Genome Project, 2012
STAGES
Hungary
Silicon Valley*
Discovery Validation Efficiency Scale
* Source: Startup Ecosystem Report 2012, Startup Genome Project, 2012
OPERATION
Hungary
Silicon Valley*
Bootstrapped Funded
* Source: Startup Ecosystem Report 2012, Startup Genome Project, 2012
ROUNDS OF FUNDING
Hungary
0 1 2 3
JOB CREATION
Hungary
Silicon Valley*
Discovery Validation Efficiency Scale
* Source: Startup Ecosystem Report 2012, Startup Genome Project, 2012
NUMBER OF EMPLOYEES
1
2
3
4
5
5-9 10-14 15-19 20-29 30-49 50-99 100+
INVESTMENTS
TOTAL CAPITAL RAISED
$3.12m (€2.3m) in 12 deals
NUMBER OF DEALS
5
10
15
20
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
2013 2012
DEAL CURRENCIES
USD 240k in 2 deals,
EUR 120k in 3 deals,
HUF 608m in 7 deals.
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
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
TYPES OF INVESTMENTS
Percentage
Angel % Seed % Venture %
Value
Angel $ Seed $ Venture $
ORIGIN OF INVESTMENTS
Percentage Value
Domestic $ Foreign $Domestic % Foreign %
INVESTMENT RANGES
0%
10%
20%
30%
40%
$0-$50k $50k-$100k $100k-$250k $250k-$500k $500k-$1m $1m-$2m $2m+
2012 2013
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
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
TRENDS
NUMBER OF DEALS
2
4
6
8
10
12
2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013
Angel Seed Venture
VALUE OF VENTURE DEALS
$20m
$40m
$60m
$80m
$100m
$120m
2010 2011 2012 2013
VALUE OF SEED DEALS
$100k
$200k
$300k
$400k
$500k
$600k
2010 2011 2012 2013
AVERAGE INVESTMENT SIZE
$3m
$6m
$8m
$11m
2010 2011 2012 2013
Venture
$150k
$300k
$450k
$600k
2010 2011 2012 2013
Seed
HUNGARIAN STARTUP ECOSYSTEM, 2013
ECONOMIC SNAPSHOT OF THE HUNGARIAN STARTUP ECOSYSTEM IN 2013DATA 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.