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Incubation ecosystem - Design Terminal
Published on 31 August 2018
Hungary
Dél-Alföld
This is the good practice's implementation level. It can be national, regional or local.
About this good practice
Design Terminal has been involved in the acceleration of innovative companies since 2014, first as a state-owned, later as a private non-profit organisation. Design Terminal is offering business and cultural talent management services. It aims at developing entrepreneurial ecosystem, creating new community platforms and implanting best international practices in order to support value-added local enterprises reaching the global marketplace. Design Terminal provides its partners with mentoring, opportunity for local and international trade show presence and investment relations.
Design Terminal is a nonprofit organization, operations are financed by state grants and company partnerships. State grants are provided by the form of a public service contract signed with the Ministry of Human Resources of the Government of Hungary. As such, Design Terminal has a regular reporting obligation, including the submission of annual, and project based financial statements.
Under our commitment for public service, Design Terminal performs various activities related to the field of business and cultural talent management, entrepreneurial ecosystem development and international benchmark adoption. Services are competition-based and free-of-charge with a strong focus on inclusivity and social cohesion.
Design Terminal is a nonprofit organization, operations are financed by state grants and company partnerships. State grants are provided by the form of a public service contract signed with the Ministry of Human Resources of the Government of Hungary. As such, Design Terminal has a regular reporting obligation, including the submission of annual, and project based financial statements.
Under our commitment for public service, Design Terminal performs various activities related to the field of business and cultural talent management, entrepreneurial ecosystem development and international benchmark adoption. Services are competition-based and free-of-charge with a strong focus on inclusivity and social cohesion.
Resources needed
Replication would require funds for the setup of the umbrella organization (1-2m EUR), than funds for the individual programs to be awarded to startups (10k-100k EUR each, depending on the size and scaleup of the activities 1-5m EUR in total)
Evidence of success
The European Commission recognised its efforts by the European Enterprise Promotion Award (EEPA) in 2014, and in 2016 the company obtained the award for the best Hungarian accelerator, as part of the Central European Startup Awards.
The popularity of the business talent programs exceeded expectations by overturning the previous record. In addition to domestic talents, twohundred and fifty enterprises, from fifty-six countries worldwide, applied for the last semester of the mentoring program
The popularity of the business talent programs exceeded expectations by overturning the previous record. In addition to domestic talents, twohundred and fifty enterprises, from fifty-six countries worldwide, applied for the last semester of the mentoring program
Potential for learning or transfer
The key messages and lessons learned from the good practice are:
- Cross-track, peer to peer learning bring great change in entrepreneurs mindset
- Program participants need to be cared after the program: alumni network
- The teams grow faster and work harder if they are closer to the program coordinators/mentors (co working services)
This public-private (still non-profit) cooperation of innovation ecosystem bulding put the job into hands of a player, who is more close to the actual startups, innovative minds - thus can be more flexible providing tailor made mentoring - and also engage industry partners to co-finance activities and achieve results, that can be taken up immediatelly by market
From public point of view, this cooperation will result in more effective and multiplicated use of public funding
- Cross-track, peer to peer learning bring great change in entrepreneurs mindset
- Program participants need to be cared after the program: alumni network
- The teams grow faster and work harder if they are closer to the program coordinators/mentors (co working services)
This public-private (still non-profit) cooperation of innovation ecosystem bulding put the job into hands of a player, who is more close to the actual startups, innovative minds - thus can be more flexible providing tailor made mentoring - and also engage industry partners to co-finance activities and achieve results, that can be taken up immediatelly by market
From public point of view, this cooperation will result in more effective and multiplicated use of public funding
Further information
Website
Good practice owner
You can contact the good practice owner below for more detailed information.
Organisation
Design Terminal
Hungary
Dél-Alföld
Contact
health innovation expert