F/MS Top Startup Cities

5 min read

Pecs, Hungary #781

City Scores

City Total Score

0.18

Overall ranking score

Quality Score

0.03

Ecosystem quality rating

Quantity Score

0.02

Ecosystem size rating

Business Score

0.13

Business environment rating

Score Distribution

Score Comparison

MeanCEO Index Click to scroll to details

57

Startup Ecosystem in Pécs, Hungary 🚀

TL;DR

Pécs is currently ranked as the 781st city in the Global F/MS “Best Cities for Startups” Index. Nestled in the heart of Hungary, Pécs blends historical charm with budding innovation and offers a nurturing environment for emerging startups.

Startup-Friendly Stuff 📈

1. Ease of Company Registration

  • Business Registration: Relatively simple process with online registration options becoming increasingly common.
  • Startup Incentives: Local government initiatives designed to attract tech startups, including financial incentives.

2. Employment Law 🏢

  • Labor Regulations: Protective laws for employees, making it essential for startups to navigate compliance.
  • Hiring Foreign Talent: Fairly straightforward work permit process, though it may involve additional paperwork.

3. Taxation 💰

  • Corporate Tax Rate: Competitive corporate tax rate of around 9%, one of the lowest in Europe, appealing to new businesses.
  • VAT Regulations: Standard VAT rate is 27%, yet beneficial schemes for startups exist.

4. Quality of Life 🌆

  • Living Standards: Affordable living costs with a high quality of life, encompassing excellent healthcare and education.
  • Culture and Leisure: A rich cultural heritage with vibrant arts, music festivals, and stunning architecture.

5. Bureaucracy 🗂️

  • Ease of Navigation: Generally manageable but may involve some time-consuming processes.
  • Government Support: Various programs aimed at fostering innovation and supporting local entrepreneurs.

6. Visas for Entrepreneurs 🌍

  • Startup Visas & Permits: Specific startup visa programs available for foreign entrepreneurs, making it easier to establish presence.
  • Residency Options: Opportunities for long-term residency for qualifying business owners.

Startup Community 🤝

7. Networking Events

  • Regular local meetups, workshops, and seminars to connect entrepreneurs and investors.
  • Annual events focusing on innovation and startup pitches.

8. Subsidies and Funding 💵

  • Numerous grants available from both EU and Hungarian government aimed at tech-focused startups.
  • Supportive incubator programs with potential for funding.

9. Venture Capital (VC) Presence

  • Investments: A growing VC milieu seeking to fund innovative startups.
  • Major Firms: Presence of both local and international VC firms interested in diverse sectors.

10. Incubators & Accelerators 🚀

  • Variety of incubation programs focusing on technology, engineering, and creative industries.
  • Opportunities for mentorship, co-working spaces, and access to funding.

Technology & Industry Priorities 🔧

  • Focus Areas: Strong emphasis on IT, healthcare innovation, renewable energy, and tourism.
  • Government Initiatives: Encouragement of technology-led development in emerging sectors.

Business Culture 🏙️

  • Language: Hungarian is the primary business language; English usage is on the rise, especially among younger generations.
  • Work Environment: Highly collaborative and community-oriented, with a focus on creativity and innovation.

General Pros and Cons ⚖️

Pros:

  • Affordable living and operational costs compared to other European cities.
  • Rich cultural scene enhances lifestyle for expatriates and locals alike.
  • Strong community support for startups, mixing local resources with international opportunities.

Cons:

  • Limited availability of venture capital compared to larger cities in Hungary.
  • Certain bureaucratic processes might still pose challenges for newcomers.

Initiatives for Female Entrepreneurs 👩‍💼

  • Increasing focus on female entrepreneurship through dedicated training programs and networking events.
  • Various funding opportunities aimed specifically at women-led startups.

Pécs presents a unique blend of cultural richness and emerging entrepreneurial spirit, making it an attractive locale for startups seeking growth and innovation. 🚀

MeanCEO Index for Pécs, Hungary 🚀

Pécs, a city that harmonizes historical charm with a burgeoning startup ecosystem, offers unique opportunities for female entrepreneurs. Let’s dive into the MeanCEO Index score based on ten critical factors that shape its entrepreneurial landscape.

1. Weather ☀️

  • Score: 6/10
    • Pécs enjoys a temperate climate with a decent number of sunny days. Although winters can be chilly, the overall weather is relatively pleasant and conducive for outdoor activities.

2. Location 🏖️

  • Score: 4/10
    • While Pécs isn’t near the sea, it benefits from its scenic hills and parks. Access to nearby lakes and natural beauty can be appealing, though it lacks direct coastal benefits.

3. Women Friendly 👩‍💼

  • Score: 6/10
    • Hungary has made strides in gender equality, and Pécs reflects this with various initiatives supporting female entrepreneurship. However, traditional attitudes still exist, slightly limiting progress.

4. Foreigners Friendly 🌍

  • Score: 7/10
    • Pécs is known for its welcoming atmosphere, especially among younger generations. The community is generally open to connecting with foreigners, fostering friendships and collaboration.

5. English as a Business Language 📚

  • Score: 6/10
    • English is becoming increasingly prevalent in business discussions, especially among startups. However, proficiency can vary, which may pose some challenges for non-Hungarian speakers.

6. Delicious Cuisine 🍷

  • Score: 7/10
    • Pécs boasts a rich culinary tradition with an emphasis on fresh ingredients. Although onions are frequently used, the local wine production adds a delightful touch to its food culture, enhancing the overall dining experience.

7. Ease of Getting Married and Starting a Family 💍

  • Score: 5/10
    • The social scene is vibrant, yet traditional family values may impact relationship dynamics. While many find love, the cultural expectations regarding marriage can be a consideration for female entrepreneurs.

8. Medicine 🏥

  • Score: 6/10
    • Access to healthcare is reasonable, with shorter wait times compared to larger cities. However, costs can vary, leading to some challenges in obtaining timely care.

9. Ease of Transportation & Traveling 🚍

  • Score: 5/10
    • While local public transportation is functional, it doesn’t match the efficiency of larger cities. International travel options are limited, requiring trips to Budapest for broader connections.

10. Startup Mindset 💡

  • Score: 7/10
    • The environment is nurturing for startups, with a culture that supports innovation and learning from failures. Local initiatives actively encourage new ideas, particularly in tech and creative industries.

MeanCEO Index Score: 57/100 🎉

Pécs holds a decent position as a city for female entrepreneurs, with many strengths in community support and an encouraging startup atmosphere. Although it faces challenges like transportation and traditional attitudes towards women, the combination of its vibrant culture, friendly locals, and growing entrepreneurial ecosystem makes it a feasible option for women looking to kickstart their businesses.

Here’s to your future success in Pécs! 🚀