Get in the Ring Budapest – The best Central-Eastern-European startups enter the ring!

Enterprise Hungary organized Get in the Ring! Budapest 2016 on the 24th of November in Akvárium Klub, Budapest. Intellyo, an Austrian-Hungarian artificial intelligence based online marketing solution won Get in the Ring! Budapest, one of the biggest regional startup competitions of the year.

Dr. József Pálinkás, president of the National Research, Development and Innovation Office opened the night. In his speech he pointed out how new incubators contribute to the encouragement and the development of startups.

This year 70 Central and Eastern European teams applied. 16 teams made it to the pitch training on the 23th of November in Budapest. Based on the votes of the professional jury 8 teams got selected to present their idea on stage. 3 Hungarian, 2 Romanian, 1 Polish, 1 Austrian and 1 Latvian startup had the opportunity to enter the ring in front of the audience.

The Polish team, Innovalab focuses on creating new innovative anti-counterfeiting technology of chemical marking of materials. 4SmartStreet represented Latvia. 4SmartStreets is a modern traffic analysis tool that provides precise, real time, factual data about objects, and their movement direction in motion of a particular place and time. 4SmartStreets is based on the deep learning technology, therefore it limits the potential error of counting a moped or mom with stroller as bicycle, and is able to provide higher precision in comparison with other players in the market.

We are organizing Get in the Ring startup competition in Hungary since 2014. This is the first time, when foreign teams could also apply for the competition in Budapest. We think it’s important to be part of the Get in the Ring family including competitions in 62 countries. We hope that as a result of our work, soon we can bring the Get in the Ring Global Final to Hungary.” – said Zsolt Kovács, head of operations of Enterprise Hungary.

Members of the jury were internationally recognised professionals of the startup community. Maris Prii – Startup Wise Guys, Max Kelly – Techstars London, Markus Lang – Pinoeers Ventures, Jochem Cuppen – GITR Foundation, Bence Katona – Hiventures and Veronika Erős – Hungarian National Trading House.

The Get in the Ring! Budapest 2016’s winner was Austrian-Hungarian team Intellyo, that strives toward building the world’s leading intelligent platform acquiring consumers at an industrial scale. They received the 200 000 € investment opportunity and qualified to the global final, that will be in Singapore, next spring.

In this event was first time presented a new state founded, venture capital company, the Hiventures. Kornél Kisgergely, CEO of the company emphasized that three main fields are in their focus: promotion of entrepreneurship, regional investment activity and market development. Their available funds for the development of innovative enterprises is 160 million € size.

Enterprise Hungary offered all income from ticket sales for charity. Through CoGoodwill every attendant help the 5 years old Pamilerin eye surgery.

Photos of the event are available here.

About the organizer

The mission of Enterprise Hungary Nonprofit Ltd. (EH) is the development of the Hungarian innovation ecosystem (startups and spin-offs), and to encourage young people in becoming entrepreneurs. In 2016 Enterprise Hungary was awarded by the Ministry of National Economy with the European Enterprise Promotion Award. This year in 2016 Enterprise Hungary organizes the regional round of the most popular startup competition in the world, Get in the Ring!