With a raised capital fund of 10 billion forints, Óbuda University has established its venture capital firm, Óbuda Uni Venture Capital, through which funding opportunities for university innovations can reach up to 300 million forints per project,” announced Prof. Dr. Levente Kovács, rector of the institution, during the university’s academic opening ceremony. He stated that their primary goal is to cultivate a strong startup culture at Óbuda University. This innovation ecosystem will include high schools that are now joining the university, enhanced talent development initiatives, scholarships, and strengthened professional colleges. This will be complemented by the launch of the Innovation Management Doctoral School and a venture capital firm that can provide real support due to its significant financial backing, which is unique in Hungary.
Prof. Dr. Levente Kovács emphasized that the opportunities brought about by the model change have opened new horizons for Óbuda University. He noted that they have invested the raised funds wisely and consistently, with results reflected not only in a significant increase in student enrollment and advancement in international rankings but also in the university’s ability to develop a distinctive identity focused on the utilization of innovations within Hungarian engineering higher education.
Óbuda University has become successful in recent times by increasingly collaborating with players in the domestic economy. Continuing this approach, innovation management has become part of the training. This not only involves the university’s newly established fourth doctoral school this year but also indicates that, with the support of the founding foundation and the financial collaboration of the Széchenyi Funds, the university is becoming Hungary’s first investor university.
Óbuda Uni Venture Capital (OUVC) will focus its investments on university startups and businesses, making it the first of its kind in Hungary. The company will have a total of 10 billion forints available over the next 10 years, which is expected to be invested in approximately 60 startups and innovative businesses. Primarily, it aims to support small to medium-capital requirement enterprises that originate from validated ideas of students studying at higher education institutions and are poised for rapid development, particularly in the fields of robotics, MedTech, artificial intelligence (AI), smart technology, and cybersecurity. Plans indicate that around 20 to 300 million forints will be allocated per business, depending on the project, covering the entire early phase of startup financing.
In a well-functioning innovation ecosystem, university educators, researchers, and students, as well as resources and testing environments, along with potential investors willing to collaborate, create practical opportunities for the rapid growth of domestic startups. Therefore, OUVC will specifically seek collaboration with co-investors who can support the innovative startups not only with capital but also with business advice and business development capabilities.
To support its investment activities, a rarely seen business development genre in Hungary, the so-called Venture Studio model, will also be established within the university framework at OUVC,” informed Prof. Dr. Levente Kovács. The aim is to provide all the activities that a startup typically needs as services at OUVC, allowing innovators to focus more time and energy on developing their products or technologies.
Budapest, September 12, 2023.