Design Terminal
Published on 01 March 2018
Hungary
Burgenland
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About this good practice
Design Terminal Public Benefit Non-Profit Ltd. is responsible for the development of the Hungarian creative industry. Founded in 2004 and becoming a private non-profit Ltd in 2016, deals with incubation of creative enterprises in 3 areas: design, urbanism and digital products. The mentoring program is an accelerator helping start-ups grow by developing their product or service and connecting them to corporate clients. DT accepts start-ups that create real value and whose innovation could change the industry as a whole (i.e. mobility, learning, healthcare, etc.).The entrepreneurs selected based on professional aspects receive special mentoring (partly with the contribution of the Corvinus University of Budapest), and get the opportunity to participate on professional events and exhibitions. And for all this, they do not require equity. During the mentoring program the start-ups are working continuously and step forward in business planning, in organization development, in legal background knowledge and in marketing.
At the end of the mentoring period the mentors lead the mentees to the real capital, real investors make real business with them. In 2016 the “Hungarian Business Angel Network” has been created based on the common intention of Design Terminal and the "Hungarian Association of Venture and Private Capital Investors”.
The activity of the Design Terminal is connected to the EDIOP and Széchenyi 2020 programs of Hungary, managed by the Ministry for National Economy.
At the end of the mentoring period the mentors lead the mentees to the real capital, real investors make real business with them. In 2016 the “Hungarian Business Angel Network” has been created based on the common intention of Design Terminal and the "Hungarian Association of Venture and Private Capital Investors”.
The activity of the Design Terminal is connected to the EDIOP and Széchenyi 2020 programs of Hungary, managed by the Ministry for National Economy.
Resources needed
2 million EUR, from Business Angels Network in 4 years for the programme, 150 000 EUR worth service support from partners (Google, IBM, Amazon)150 international mentors in the network, co-working space for the start-ups.
Evidence of success
EC “Prize for Inspiration of European Entrepreneurships” in 2014, UNESCO “City of Design” title in 2015, Membership in Creative Cities Network (54 countries, 116 Cities). 800 innovative businesses took part in the program since 2014, 250 000+ visitors, 1000+ international entrepreneurs have received free of charge consultancy from the team.
Potential for learning or transfer
The system of the mentoring and incubating programme is easy to transfer. The start-ups that already took place in the programme have built relationships to the business community and the basis of the continuous success is the “live” mentoring, the daily contact and brainstorming with the mentors on site.
Further information
Website
Good practice owner
You can contact the good practice owner below for more detailed information.
Organisation
IFKA Public Benefit Non-Profit Ltd. for the Development of Industry
Hungary
Dél-Alföld