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MVM EDISON startup competition underway

The MVM Group is expecting proposals in several new categories in the race for HUF 50 million investment.

The MVM EDISON startup competition will be held for the fourth time this year, where innovative developers will be able to submit their promising ideas to win investment. 

The MVM Group (Hungarian Electricity Company) is looking for innovative ideas from start-ups, spinoffs, small and medium-sized businesses, higher education students and individuals, both from inside and outside the country; the only condition for applying is Hungarian citizenship, regardless of place of residence.

Organizers await applications in several new categories this year. Developers can enter innovative ideas for future homes, cities, digital infrastructure and fintech solutions that revolutionize finances. 

The best ideas will be shortlisted and a whole host of valuable prizes are on offer, with the winner getting the chance to secure seed capital of up to HUF 50 million.

The MVM Group launched the EDISON program in 2016 in order to provide expert help and investment to realize innovative concepts and to find the most promising, creative and marketable ideas and talent.

During a two-month training course provided to shortlisted talent, teams can gain insight into the world of startups, learn the language and phrases used there, and acquire business and communication skills.

“Continuous innovation, developing solutions for the future, and supporting talent are paramount to the MVM Group,” said György Kóbor, CEO of the MVM Group. 

“Energy, as one of the most innovative industries, can no longer be separated from digitization, fintech, or the development of smart cities and smart homes. Our goal is to find powerful, innovative improvements to each component of this ecosystem that will help us deliver more to our customers and the country as a whole,” he added. 

The application process is open until the end of February.

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