The incubator won the grant via the Startup Factory tender announced by the National Office for Research, Development and Innovation (NKFIH). The total cost of its project is HUF 371,428 million, writes MTI.
Virgo Ventures has announced that the grant, supplemented by its own resources, will be used to fund the Virgo Ventures Startup Factory 2021-2023 investment program. The two-year program was launched in February, and the incubator plans to fund 10-12 companies during its duration.
Virgo Ventures is looking for ideas with international growth potential in the field of AI, Big Data & Analytics, Cybersecurity, Fintech, Edtech, Digital Media, Adtech, Creative Industries, Health & Wellness, Art-Tech, IT, Ecommerce, HR Tech, IoT and Business Operation Solutions.
Startups in the program can receive a minimum of HUF 5 million and a maximum of HUF 75 million in capital investment and state support, they said.