Danube Startup Summit: Empowering the Next Generation of  Young Entrepreneurs 

Danube Startup Summit is an event for young people to hear valuable insights from successful people.

Innovation in Eastern Europe is undoubtedly struggling. Think of the brands changing our lives: huge businesses such as Apple, Meta, Windows, and Nvidia are all based in the United States,  with little to none of this caliber based in Eastern Europe. A particularly startling statistic shows this economic discrepancy between unicorn companies per population in the U.S. as opposed to Europe and Eastern Europe. The term “unicorn company” refers to a privately owned startup valued at over US$1 billion, and currently, there are 712 based in the United States for a population of almost 350 million, while in the entirety of Europe, there are 202 for a population of nearly 750 million. Therefore, there are more than ten times as many unicorn companies per capita in the United States than there are in Europe, and even more staggeringly, for a population of nearly 300 million, there are only approximately 15 in Eastern Europe, almost 100  times less. Think of all the innovation, economic growth, and quality of life we miss out on due to stumped business growth and development.  

We believe that the root of this cause can be majorly attributed to culture. The mere existence of places such as Silicon Valley or New York prove the effort and resources nations such as  America put into developing startups, locating new ideas, and providing investment, something sorely needed in Hungary and Eastern Europe alike. Jared Schrieber, co-founder of an American Unicorn tech startup from which he made a successful exit, Hungarian superangel, and a speaker at our upcoming event, said it best: “If I had started my business in Hungary, I would have failed right out the gate.” He expands by saying that in order for a Startup to grow into a unicorn, a symbiotic dance of dozens of key components must work in harmony. Great lawyers, investors, and partners are essential, just to name a few. The Danube Summit aims to help create this very ecosystem, specifically addressing the capture and mentorship of young talent, catapulting Eastern Europe into a competitive, valuable startup landmark.