Exciting opportunities ahead for the Hungarian defence tech startups at VIKI in joint effort with NATO Innovation Fund (NIF) Partnership!
The Defence Innovation and Research Institute of Hungary, in collaboration with the Embassy of Hungary in London, organized a revolutionary event titled “The Importance of International Financing in Defence Innovation, NATO Programs” at the NATO Innovation Fund (NIF) headquarters in London on the 27th of February, 2024. This initiative marks a significant stride towards fostering opportunities for Hungarian enterprises developing dual-use technologies in the defence sector.
Highlighting the importance of international cooperation, the event witnessed the participation of top ranking officials from VIKI, the Ministry of Foreign Affairs and Trade of Hungary, and the Ministry of National Economy of Hungary. Among the attendees were owners of significant Hungarian venture capital firms, leaders of NIF and the NATO DIANA, distinguished British businessmen, and foreign diplomats from the UK, Canada, and Australia.
The event commenced with Brigadier General Dr. Imre Porkoláb, CEO of VIKI, and Ferenc Kumin, Hungarian Ambassador accredited to London. Esteemed speakers included Péter Sztáray, State Secretary for Security Policy and Energy Security and Patrick Schneider-Sikorsky, Founding Partner, Member of the Senior Managment Team and Director for Central and Eastern European Performance and Ecosystem at NATO Innovation Fund (NIF). The event was also attended by Bence Gerlaki, Deputy State Secretary for Economic Development Strategy and Outward Direct Investment and Hungarian fund managers who had the opportunity to present themselves and learn about NIF’s activities.
Imre Porkoláb emphasized, “VIKI’s mission is to create market access opportunities for Hungarian startups developing dual-use technologies while strengthening Hungary’s role within NATO. This collaboration with the NATO Innovation Fund (NIF) aims to connect domestic success stories in the capital market. The London event series served this very purpose.” This event also lays the groundwork for organizing the 2nd NATO Innovation Week in Budapest.
The NIF, acting as a venture capital fund, enables strategic investments into startups developing critical dual-use (defence and civilian) technologies. This initiative recognizes the challenges startups face in attracting investments due to the prolonged market entry process and capital-intensive development, bridging this gap by focusing on early-stage developments with long-term (15-year) investments.
This marks a significant step forward in the international growth of the Hungarian defence innovation!
