How Hungary’s Tech Industry is Driving Economic Growth and Innovation
Hungary has a proud history of technological innovation and scientific achievement. From the early 20th century, Hungary has been a center of innovation in telecommunications, with companies such as Tungsram and Ganz producing cutting-edge technologies. Hungary’s scientific community thrived even during World War II and the country became a leading producer of computer hardware and software in the 1970s and 80s. Videoton, a Hungarian company, became one of the largest computer manufacturers in Central and Eastern Europe, producing a range of products such as personal computers, minicomputers, and computer peripherals.
With the fall of communism in 1989, Hungary underwent significant economic and political changes that paved the way for the growth of its tech industry. In the 1990s and early 2000s, a number of successful tech startups emerged in Hungary, including Graphisoft, which developed the architectural design software ArchiCAD.
Today, Budapest, the capital city of Hungary, is a leading hub for tech companies. The city boasts a highly skilled workforce, a favorable business environment, and a vibrant startup culture. These factors have attracted both multinational corporations and home-grown startups to establish their operations in Budapest.
Prezi, a cloud-based presentation software company, was founded in Budapest in 2009. The company’s flagship product, also called Prezi, is a presentation platform that allows users to create dynamic and engaging presentations. Prezi has over 100 million users worldwide and has been used by companies such as IBM, SAP, and LinkedIn.
NNG, a global software company specializing in navigation and infotainment systems for the automotive industry, also calls Budapest home. NNG’s products are used by major car manufacturers such as Audi, BMW, and Toyota.
LogMeIn, a cloud-based remote connectivity company, established its European headquarters in Budapest in 2014. LogMeIn’s products, such as GoToMeeting and LastPass, are used by millions of people worldwide, and the company operates in North America, Europe, Asia, and Australia.
AI has become an increasingly important part of the tech landscape, and several Budapest-based companies are at the forefront of AI innovation. Emarsys, a leading provider of omnichannel customer engagement software, uses machine learning to personalize and automate customer interactions across channels such as email, mobile, social media, and web.
GreenFox Academy is a coding bootcamp that offers courses in software development, data science, and AI. The company’s AI course covers topics such as machine learning, deep learning, natural language processing, and computer vision, providing students with the skills needed to pursue careers in AI and related fields.
Synetiq is a Hungarian startup that develops AI-powered solutions for the financial services industry. The company’s platform uses machine learning algorithms to analyze financial data and provide insights to clients such as banks, insurers, and asset managers.
Gravity R&D, a Taboola company, provider of AI-powered personalization and recommendation solutions, is also based in Budapest. The company’s platform uses machine learning to analyze user behavior and provide personalized recommendations across channels such as email, web, and mobile.
As Hungary looks to the future, it seems clear that technology and innovation will continue to be major drivers of economic growth and social progress. With its proud history of scientific achievement and a growing reputation as a tech hub, Hungary is well positioned to continue shaping the future of the tech industry for years to come. Budapest, in particular, has emerged as a leading hub for tech companies with Prezi, NNG, LogMeIn, Emarsys, GreenFox Academy