FasterCapital, which has been active since 2014, will invest up to HUF 600 million in selected projects in Hungary that are run by women. As part of the investment, the company will provide startups with the IT development needed to create a technology product or service with the help of its own in-house development team of more than 200 people. Selected startups can also participate in a business development mentoring program, in which FasterCapital’s international network of nearly 1,000 experts provide assistance with accounting, human resources, marketing, law, business development and PR consulting.
Startups accepted do not have to physically move during the incubation period, as the entire program is implemented online. FasterCapital is primarily looking to cooperate with startup founders and concept owners who have a technological idea but do not have the necessary IT development skills to realize it themselves.
Over the past five years, a total of 26 startups have participated in the group’s incubation program, of which 24 companies have already entered the market; another 281 teams have received acceleration services. Last year, a niche program for female-founded startups was a great success, with more than 200 applications from 50 countries, according to Imre Hanyecz, FasterCapital’s Hungarian representative.
The company provides a maximum of 50% of the capital requirement (higher in exceptional cases but never 100%), and in each case, an external investor is involved as a co-financier to ensure the remaining capital.
Deadline: You can apply until July 26, 2020. More information here.