Newsletter - 2013 Review
EEF celebrates another great year,
we can be proud of our initiatives and achievements.
Entrepreneurship to become state religion?
Something unusual happened, state officials called upon entrepreneurial practitioners like Peter Arvai, Marton Szoke, Szabi Valner and me (along with others), asking for advice and input. We were invited to conjointly design an entrepreneurial environment for the coming years. Dubbed as the BudapestHUB, our working group has set an ambitious target, make Budapest the region's startup capital by the end of this decade. Bottom up, with the State acting as a catalyst and clearing obstacles along the way. We started to translate this Startup Credo into programs, developing an ecosystem - based on international experience and best practice. EEF has been a pioneer, and many of our programs and initiatives are being embraced by this movement. The program planning is being done along the following headings
- Access to funding, in line with the company life cycle
- Making taxation and the regulatory environment startup friendly
- E education at universities and beyond
- Training in Startup and Jeremie academies
- Supporting community
As a first step, incubators were invited to compete for state grants in a program called Gazelle. EEF supported many of the contenders. In the end, 4 applicants were declared winners.
EEF powering Microsoft’s ICA
Accelerator programs are becoming very popular these days. EEF was the very first doing this, starting in 2006 at INSEAD. A few years into education at the Business School for the World, I realized that you cannot teach entrepreneurship in a classroom 60 or so participants. We need entrepreneurial role models, as we learn primarily through imitation. So we have taken the startuppers out, to work with serial entrepreneurs. I did the same, later in Budapest, involving Adam Somlai-Fischer, Marton Szoke, Gyula Feher, Peter Arvai and all the other (back then unsung) heroes.
Microsoft runs a prestigious global tournament, called the Imagine Cup. It starts at the country level and ends in a global competition. This autumn, MS announced that contending teams for Imagine Cup will be trained and educated by EEF, in partnership with Demola Budapest. So, we set up the Imagine Cup Academy.
Many teams applied, 10 were selected which are taking part in the 4 months educational program in business and technology, accelerating their ventures.
EEF and social entrepreneurship
In 2012, the European Investment Bank Institute has run a Social Innovation Tournament for the first time. Tamas Haidegger, EEF alumnus and Hand-in-Scan founder was the winner. At his suggestion, EEF together with Demola Budapest managed to bring the tournament to Budapest.
A wide range of projects and ventures were put forward, from helping kids to learn math, healthier nutrition up to grannie employment and solving drinking water problems. The 16 finalist, selected from well over 200 applicants, were invited to an EEF Bootcamp in Budapest.
The intense “treatment á la Záboji” - Bootcamp and rehearsals in October - yielded outstanding quality for the final competition.
Spreading the E virus
EEF continued organizing community events
We kept reaching out to students, too
- In the summer, we organized a two day entrepreneurship event in the cooperation with AIESEC international for high school kids
- In the autumn a panel discussion on venture capital with Széchenyi István Szakkollégium,
- Round table talk with EVK Szakkollégium students from Corvinus
We engaged ourselves in supporting and promoting
a fresh and educated voice!
EEF in the press
EEFs’ online presence
This year, we rejuvenated our logo and upgraded our online presence as well. In the autumn, we launched our new website, optimized for mobile.
We have over 10.000 engaged readers, more than 2.000 followers of our Facebook page and 850 members of EEF Forum
Let me close by thanking you, our alumni, friends and
partners who helped making this all happen