We start in Óbuda in accelerated

Óbuda University and Széchenyi Funds Ltd. are setting up an investor company to support early-stage innovations — announced Prof. Dr. Levente Kovács Rector and Dénes Jobbágy Chairman and CEO. With a capital of one and a half billion forints, the company helps start-ups to find the expertise and financing they need to grow. The initiative, unique in relation to Hungary, can help not only the cooperation of the actors of research and development and economic life, but also the long-term relationship between universities and companies — informed Prof. Dr. Levente Kovács.

The cooperation between the University of Óbuda and the Széchenyi Funds can help startups already undergoing incubation or not in need of incubation, based in Hungary or those planning to move here to grow rapidly, making them suitable for a next round of investment by Széchenyi Funds or other market investors.

Prof. Dr. Levente Kovács said that the venture capital company to be created can count on the services provided by laboratories and technical teams operating at the university, such as the Bejczy Antal Irobottechnology Center and, in addition, the University Research and Innovation Centre, and also available to startups. It will be possible to produce and test prototypes, prepare for audits according to relevant standards and involve industry partners, and exploit the university's competence and network of relations with intellectual property. In addition, the competent workforce and testing environment are ensured by its faculty and students, the rector added, mentioning that the company is ready to support start-ups from other universities or incubated by other industry players.

Dénes Jobbágy emphasized that the experience of Széchenyi Funds and cooperation opportunities with major companies included in the portfolio of a fund manager can further strengthen growth-ready startups. As he put it: the utilization of the knowledge wealth accumulated at universities and the international scientific relations system and the dynamic development of the university innovation ecosystem are of paramount importance from a national strategic point of view. However, the present agreement and the establishment of a joint company with the university is only the first step in achieving the far-reaching goals of much greater importance. We want to take the initiative to an international level. This means both the quality and significance of the target and the breadth of the relationship system. Of course, we are open to the involvement of Hungarian actors — universities, private partners, industrial production, service and trading companies, as well as local governments — in order to develop the widest possible partnership.

The university and the fund manager have worked together in several areas during the past year: the Széchenyi Funds welcomed trainees from the university's students, delegated staff to the University's Innovation Committee, and last year contributed lecturers to the success of the education carried out by the institution within the framework of the Hungarian Startup Program. In July 2022, the cooperation was supplemented by a joint scholarship program announced in connection with the events of war in Ukraine.