Hungary’s first 100% digital student cooperative has been set up by Quantum, a member of the “Start it @K&H” incubator program since last autumn.
The aim of Quantum is to fully automate the interaction between companies and students, from contracting to payment in order to save time, energy and money for student workers and the companies that employ them.
Quantum was founded in 2020 and currently has contracts with 25 companies. They have been able to place more than 150 students in jobs so far and are on track to reach billions in turnover this year.
Balázs Németh, Head of Innovation at K&H, said that Quantum has been able to introduce a revolutionary digital-based solution to an industry that has been unchanged for a long time.
Achieving Quantum’s highly ambitious goals may be helped by the fact that, starting January 1, 2022, the PIT exemption for young people under 25 is expected to encourage domestic companies to hire students.
Their longer-term plans include placing Hungarian students in freelance jobs abroad, but for now, they are still focusing on the domestic market. Levente Balogh and Péter Balogh, investors in the show “Sharks,” have also joined the company, contributing professional mentoring and HUF 15 million in funding.
The team was also nominated for the K&H Special Award for Innovation and Sustainability.