Hungary’s National Chamber of Agriculture and Design Terminal have partnered up to help deliver innovation in Hungary’s agricultural sector by promoting integration between the food and domestic agricultural players. The NAK Tech Lab Enterprise Development Program will feature three sprints over the course of three months, starting with a three-day bootcamp after which select teams will be able to continue on with various workshops, business training, and mentoring. They will then present their results at a final Demo Day.
The program aims to help make Hungary’s domestic agricultural industry more competitive, sustainable, and environmentally aware. Last spring NAK and Design Terminal hosted Farm Wisely!, a 24-hour brainstorming session meant to foster innovation and attract people to the sector to work.
“We showed that Hungarian young people can also find opportunities for innovation and entrepreneurship in agriculture. In the twenty-four hours they spent together, a new generation of IT, physicists, product designers and geologists worked together to meet the challenges of the domestic agribusiness,” Gergely Böszörményi-Nagy, head of Design Terminal, stated last spring, when the winner of the hackathon was BeeNet, a group looking to help beekeepers and farmers better communicate.
“Hungarian agriculture is facing the challenge of generational change, climate change and technological change, which are all interlinked. The solution lies in increasing the innovation capacity of agriculture. This is exactly what our new program is about,” Nagy now says in regard to their new three-month incubator program.
Companies looking to participate in the incubation program this fall can be a startup or already with their first clients but must have an MVP. They do not need to be in agriculture or agribusiness in any way. One huge benefit to such newcomers will be the feedback they get from the program’s corporate sponsors, including Axiál Kft., Tesco-Globál Zrt., Vodafone Magyarország Zrt., Bonafarm Group, Hungrana Kft. And Hiventures Venture Capital Fund Management Zrt. These are the type of large enterprises that are looking for new solutions, so such interaction is invaluable.
Design Terminal in Hungary has organized incubation programs in seven countries and has worked with over 1,000 startups and leading industrial enterprises since 2014.
Interested parties can apply for the NAK Tech Lab Incubation Program here.