The NAK TechLab startup incubation program, launched in 2019 by the National Chamber of Agriculture and with the support of Design Terminal, offers startups professional support to develop and market technologies for the agricultural sector.
The goal of the program is to find the most innovative solutions for Hungary’s agricultural sector and food industry to make them more competitive, sustainable and environmentally conscious.
Participating startups can boost their development through business training, intensive workshops, and mentoring sessions with figures from large corporations, such as Auchan Retail Magyarország, Axiál Kft., Bonafarm Group, Corteva Agriscience, KITE Zrt., SIÓ-Eckes Kft. and Syngenta Magyarország.
Additionally, there is a research opportunity provided by the Agricultural Science Research Center, while Vodafone has offered to use its network to help support the deployment of mature solutions. Planet, founded in 2010 by three NASA scientists, also gives startup teams access to its equipment to collect data from satellite images.
The program helps startups with raising capital as well, with Bonitás Befektetési Alapkezelő Zrt. and Hiventures Venture Capital Fund Management Ltd. providing consultation opportunities.
The incubation program closes with Demo Day at the end of the third month.
Applicants can be established companies with existing revenues and customers, as well as startups and early growth companies. No professional agricultural training or agro-industrial activity is required. Anyone whose digital innovation promotes the development of domestic agriculture can apply until August 30, 2020.