The OXO Labs Startup Factory application will start in 2024

OXO Labs, a subsidiary of OXO Technologies Holding, which is also present on the Budapest Stock Exchange, will provide promising candidates with an investment of HUF 25-70 million. Applications are open to all innovative, early-stage businesses, but the company group pays special attention, according to its strategy, to innovative technological solutions to social or environmental challenges. In October 2023, the National Research, Development and Innovation Office, with the support of the Ministry of Innovation and Technology, announced the Startup Factory tender for incubators with a budget of HUF 5.75 billion, for which OXO Labs Kft. submitted a grant application. After the submission in November, OXO Labs Kft. was included in the list of subsidized incubators that became public in early December – the submitted application received a positive evaluation – thus OXO Labs Kft. will receive HUF 450,000,000 in non-refundable support. For this reason, the OXO group, in addition to implementing its acquisition strategy aimed at buying out more mature technology companies, which is currently a priority in its investment strategy, is also waiting for applications from early-stage, start-up innovative companies. In the future, OXO Labs will select at least nine initiatives from promising candidates for its portfolio in the next two years, for which it will provide an investment of HUF 25-70 millio