​Can Hungary Build Unicorns, or Will We Drive Them Away?

​Members of Hungary’s new government have repeatedly highlighted the importance of innovation and startups, calling for more unicorns in Hungary. What would it take to get there?

​At the next First Monday, we’re bringing together leading founders, investors, and policymakers to discuss what Hungary needs to become a globally competitive startup hub.

​We’ll explore how taxation, regulation, and government funding influence where founders build their companies, where investors deploy capital, and where high-value jobs are created.

​With the proposed wealth tax raising serious concerns across the startup ecosystem, we’ll examine what’s at stake and what policymakers can do to encourage, rather than discourage, entrepreneurship.

​Speakers include Tamás Kádár (Co-Founder & CEO, SEON), Zoltán Györkő (President at Startup Hungary, ex-Balabit), and we are trying to invite policymakers to join the discussion.

​What we’ll focus on

​Wealth tax & startups
The proposed wealth tax could fundamentally change the economics of building a successful startup in Hungary. Founders could face recurring tax liabilities based on the estimated value of their privately held shares, even when they have received no cash and cannot sell those shares. A founder building a billion-dollar company could face substantial annual tax bills long before achieving any personal liquidity.

​The consequences could extend far beyond individual founders: encouraging entrepreneurs to relocate, discouraging international investment, reducing the number of startups headquartered in Hungary, and ultimately pushing future jobs and tax revenues abroad.

​We’ll examine how the proposed tax could affect founders at different stages, why taxing illiquid ownership is particularly problematic for venture-backed businesses, and what safeguards or exemptions would be necessary to avoid damaging Hungary’s startup ecosystem.

​Flipping & EU Inc
Most Hungarian startups past Series A have “flipped”: they operate through a holding company registered in the US or the UK. This isn’t just a Hungarian problem; it’s a European one. Fragmented legal systems, incompatibility with venture standards, and the expectations of international investors push founders to move their HQ to jurisdictions investors are familiar with. EU Inc, an ambitious effort to create a pan-European entity along the lines of a Delaware C-Corp, aims to solve this, but it’s currently being watered down.

​Government funding
What role should the government play in financing innovation? After 15 years of significant state involvement in Hungary’s startup ecosystem, we’ll examine what has worked, what hasn’t, and how public policy can better attract private capital rather than replace it. Can Hungary create an environment where successful startups emerge through global competitiveness rather than government dependency?

​Schedule

• ​18:00–18:30 Registration

• ​18:30–18:45 Intro

• ​18:45–19:45 Panel discussion + Q&A

• ​19:45–21:30 Drinks and networking 🍕

​​Startup Hungary is Powered by:

​

​This event is supported by:

​Project no. STARTUP-2026-RENDEZVENY-0005 has been implemented with the support provided by the Ministry of Culture and Innovation of Hungary from the National Research, Development and Innovation Fund, financed under the STARTUP-2026-RENDEZVENY funding scheme.