Innovation Is the Key to Sustainability
In recent years, the Hungarian startup scene has been characterized by one success story after another.
However, there seems to have been a slight decrease in enthusiasm recently. What happened?
Indeed, after a period of growth in the past few years, there has been a recent downturn, partly due to the dwindling availability of financing sources. Investors who previously entered this market have shifted towards other investments, taking fewer risks.
Is this due to the global market situation?
It's important to remember that we recently experienced a pandemic and there are currently two wars that have consequences on the global market. Downturns first manifest in the riskier industries. Early-stage startups are inherently riskier, so the downturn might not be surprising. This period could really test the strength of startups. Those securing investments now are likely to be teams offering higher quality, better solutions, and business opportunities.
What role does MVM, as a large corporation, play in supporting innovation and embracing innovative ideas?
We operate across a broad spectrum, focusing not just on collaborating with startups but also on embracing employee ideas and internal innovations. We foresee many challenges in the coming years, which have shaped the new strategy of the MVM Group. Given the changing market conditions in the energy sector, the increasing demand for energy, and the growing importance of meeting ESG expectations, these challenges will likely grow. These challenges must be addressed sustainably, and innovation can provide solutions. It remains crucial to effectively involve innovative teams, companies, and startups in addressing the group's challenges, continuously providing better products and services to our clients.
Moreover, the group's workforce of over 19,000 employees harbors many potential opportunities for excellent ideas, not just strictly in energy but also in daily corporate operations.
What are your focuses for this year?
This year, we launched the eighth iteration of MVM Edison, which is now more of a corporate incubation program. The Edison program has undergone significant changes compared to previous years, warranting considerable attention from a procedural perspective. Instead of preparing startups for a classic pitch in an 8-week program, the program now represents a six-month joint development effort, creating shared innovations. Thus, the focus is primarily on the product or service, rather than on startup investment. This approach marks a departure from that of previous years.
Indeed, after a period of growth in the past few years, there has been a recent downturn, partly due to the dwindling availability of financing sources. Investors who previously entered this market have shifted towards other investments, taking fewer risks.
Is this due to the global market situation?
It's important to remember that we recently experienced a pandemic and there are currently two wars that have consequences on the global market. Downturns first manifest in the riskier industries. Early-stage startups are inherently riskier, so the downturn might not be surprising. This period could really test the strength of startups. Those securing investments now are likely to be teams offering higher quality, better solutions, and business opportunities.
What role does MVM, as a large corporation, play in supporting innovation and embracing innovative ideas?
We operate across a broad spectrum, focusing not just on collaborating with startups but also on embracing employee ideas and internal innovations. We foresee many challenges in the coming years, which have shaped the new strategy of the MVM Group. Given the changing market conditions in the energy sector, the increasing demand for energy, and the growing importance of meeting ESG expectations, these challenges will likely grow. These challenges must be addressed sustainably, and innovation can provide solutions. It remains crucial to effectively involve innovative teams, companies, and startups in addressing the group's challenges, continuously providing better products and services to our clients.
Moreover, the group's workforce of over 19,000 employees harbors many potential opportunities for excellent ideas, not just strictly in energy but also in daily corporate operations.
What are your focuses for this year?
This year, we launched the eighth iteration of MVM Edison, which is now more of a corporate incubation program. The Edison program has undergone significant changes compared to previous years, warranting considerable attention from a procedural perspective. Instead of preparing startups for a classic pitch in an 8-week program, the program now represents a six-month joint development effort, creating shared innovations. Thus, the focus is primarily on the product or service, rather than on startup investment. This approach marks a departure from that of previous years.
Translation:
Translated by AI
