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Last weekend, Budapest hosted the Danube Startup Summit, aimed specifically at motivated young people interested in starting a business. With around a hundred participants from five different countries, young adults under the age of twenty-one experienced an event that they “could not even imagine existed” in Europe, let alone in Hungary, reads the organizers’ press release.
From the chance to connect with like-minded young people, to learning from three fireside chats with wildly successful entrepreneurs, and hearing four successful young Hungarian entrepreneurs present their startups,
the Danube Startup Summit was a definite step towards developing Eastern Europe’s startup ecosystem into the powerhouse it can be,
the organizers wrote.
Jared Schrieber, a Californian tech entrepreneur who sold a startup he co-founded for USD 1.5 billion, discussed his research and journey in developing InfoScout (today known as Numerator). After his successful exit, he spent five years researching consumer retail brands for his book Breakout Brands, uncovering how challenger companies disrupt markets and achieve rapid growth by leveraging consumer insights, data-driven innovation, and agile strategies to outperform established competitors. He gave incredible insights into developing a startup and finding the best people to do it with.
György Nagy, a Hungarian private equity investor, discussed his journey from growing up in the Soviet Union to being the sole owner of over 70 businesses, generating 150 billion forints (365 million euros) of revenue each year. He highlighted his selection process for purchasing companies, and discussed how he aids each business to grow through strategic cash infusions and hands-on management.
In an inspiring story about perseverance, he urged the audience to embrace fear and failure, since without them, he would not be the man he is today.
Dániel Balla, CSO and co-founder of Bitrise, Hungary’s very own unicorn company (privately held startup company with a value of over USD 1 billion.), highlighted the key lessons he learned from YCombinator, an accelerator for businesses such as Reddit, Twitch, and Airbnb. He said he never thought he would be an entrepreneur and talked about the surprising turning points and hard lessons he had to learn to make Bitrise the success it is today. Balla also talked about the need for a crystal clear vision and focus in entrepreneurship, and the value of having great co-founders.
All fireside chats were professionally recorded, and can soon be found on the Danube Startup Summit Youtube channel. With this being just the first event, the young, ambitious entrepreneurs behind the Danube Startup Summit, Ferenc Deli Szilágyi (18), Dániel Gerlei (17), and Filip (18),
are looking to organize an all-expenses-paid, week-long youth entrepreneurship program this summer, alongside recurring events in Hungary and throughout Europe.
Planning is already underway for the next event that will take place in Prague, Czech Republic.
Featured image: Danube Startup Summit