10th Angel Investor Training: Business networks for innovation –…

Nine angel investor training and nearly fifty international conference, gathering and business meeting and growing membership: the Women/Business/Angels Association celebrated its first anniversary in September 2018.

As the next strategic step, we organized a roundtable discussion focusing on „Business networks for innovation – designing the economic future” and invited key experts and business networks from Hungary. Peter Szalay, COO, IBM Hungary, member of our Advisory Board was kind and hosted the event. During the conversation we discussed the role of the business networks in strengthening the innovation ecosystem, their influence and connections. The outcome of the roundtable discussion was shared with the wider audience in the second half of the evening.

After the first part, the 10th pragmatic business angel investor training followed that was opened for all who had not joined the Association yet. This way they had the opportunity to gain experience about how unique these training sessions are, and enter into the Association, become a member.

This time Peter Tanczos, Director, Euroventures was our guest speaker. He talked about EPAM and Tresorit, why the investors saw the opportunity in them, and predicted their global success. Also, he explained why Euroventures had been working together with angel investors for a long time. He replied to all of these questions and many others coming from the audience with the moderation of Imre Hild, Partner, Global Traction.



Krynica Economic Forum and Women/Business/Angels Association have become official…


This year Women/Business/Angels Association participated in the Krynica Economic Forum not only as one of the guest speakers, but we have become one of the official partners of the largest Davos like economic forum, organized in Poland on the 2nd week of September that attracts more than 4,000 decision makers and 800 journalists every year.

Hungary was represented by Adam Szigeti, State Secretary responsible for Innovation, Eszter Szabó, President of the Women Business Angels Association. This event was a significant opportunity for the Women/Business/Angels Association as we believe that winning in the global innovation competition is possible only if we think regionally, or even globally.

What can be the next economic model for CEE’s growth? This was the center of a debate among six known macroeconomists, from various countries and the President of Women/Business/Angels, Eszter Szabo on 6 September. Panelists of “The Difficult Escape from Stagnation. How to Boost Central European Economies?” session agreed that the region has caught up with the Western World by offering low-cost labor force.

The current question is how to develop a higher value-added economic model. Innovation, creativity, education, brand, regional collaboration within V4+ and the EU, labor force migration, all were among the possible tools touched upon.

Eszter Szabó talked about the role of local capital accumulation and introduced EBAN – The European Trade Association for Business Angels, seed funds, and other early stage markets as intellectual platforms with 300K members. Members who represent an additional source of capital, they invest their own money, knowledge, business network, and experience in somebody else’s company as angel investors. This money is an additional tool for boosting local entrepreneurship with global growth aspirations. It is not a surprise that this tool would be more effective, if we engaged more women together with more men for more innovation in CEE.

Snapshot of the mall of Krynica Economic Forum where every attendee meets during a dense get-together of regional decision makers and influencers every September. In 2018, it was the 28th time.

Krynica Economic Forum and Women/Business/Angels joined female executive breakfast 2018. This is the third time Krynica and Eszter Szabó hosted this breakfast. Women/Business/Angels has been on the Forum’s council for three years.

First anniversary of the Women Business Angels


Nine angel investor training sessions, almost 50 international conferences, gatherings, business meetings, and increasing membership: the Women Business Angels Association celebrated its first anniversary in early September 2018.

Please click here to watch the video.

By working together with Hungarian Business Angel Network (HunBan), the ultimate strategic objective of the Women’s Business Angels Association is to increase the number of female decision makers in the innovative entrepreneurship sphere in Central and Eastern Europe. To achieve this, the Association applies three key initiatives: firstly, co-educated business angel investor trainings; secondly, acting as a knowledge center and disseminating information about new investment schemes; and thirdly linking cross-border networks innovation ecosystems.

The international recognition of what we do has been significantly increasing. We have already visited Norway, Israel, and lately we have been invited to Prague as well to meet the key players of the local innovation ecosystem. What’s more, we have already hosted business women delegations from Norway and Albania.

As one of the guest speakers, we participated in the Krynica Economic Forum, the largest Davos like economic forum, organized in Poland on the 2nd week of September that attracts more than 4,000 decision makers and 800 journalists every year. Hungary was represented by Adam Szigeti, State Secretary responsible for Innovation, Eszter Szabó, President of the Women Business Angels Association. This event was a significant opportunity for us as we believe that winning in the global innovation competition is possible only if we think regionally, or even globally.

At the latest occasion of our business angel trainings that are unique in the Hungarian market, we celebrated our first anniversary, where one of the members of our Association, the well-known data scientist, and innovative social platform builder, Attila Petróczi talked about a very thought provoking topic that generated lots of lively conversations among the participants: „What does it like going through the growth phases of a startup company within the organization?” Attila took an active part in the formulation and development of the Data Science Budapest Meetup group in Budapest, and one of the key organizers of the global CRUNCH Data Engineering and Analytics Conference.



#StudyHungary18  Hungarian and Norwegian workshop at the Institute for Foreign Affairs and Trade, Budapest

Participants: 30 with 10% men

Outcome to focus on
● Build innovation momentum through connecting SheInvests and Women/Business/Angels and partners
● Bilateral business relationship building through x-border mentoring of women’s networks– Kvinner I Business and Seed Foundation
● Healthcare+tourism+innovation

Reception for the #StudyHungary18 workshop participants and other Hungarian stakeholders by the Norwegian Ambassador. The Hungarian Ambassador to Norway also attended as well as CEOs or representatives of Norwegian companies active in Hungary. Photo: Andrea Dintser

Who Will Make Hungary Future-proof in Today’s Global TECHtonic…

Executive Salon
at Budapest Chamber of Commerce, Budapest, January 30, 2018

Partners: Budapest Chamber of Commerce, the Women/Business/Angels, the SingularityU Hungary and Sparks Institute@IBS as partners
Participants: 95 with 40% women

The third ‘Global Leaders on CEE stage’ Executive Salon was organised by the Budapest Chamber of Commerce, the Women/Business/Angels Association, the SingularityU Hungary and Sparks Institute@IBS as partners. The latter three partners were led by women executives – strong believers of Hungary’s economic potential if we build a stronger ‘can do attitude’. The evening covered future scenarios & bold choices for governance and corporate leadership with a focus on who and how can improve Hungary’s innovation and digital capabilities. The keynote speaker was Zoltán Cséfalvay, Hungary’s Ambassador to the OECD who shared his three-years of experiences with the world’s leading professional think-tank and multilateral standard-setter of the global economy in his latest book – TECHtonic Shifts – that has recently been published in English by Kairosz Publishing House.

The game changer hardcover on tectonic global economic transformations walks laymen decision makers through all aspects of inevitable challenges driven by technology and business model revolution in the digital era. It summarises transformations all countries have to face if they want their citizens to become winners of the future. The list of policy alternatives to address changes for countries and regions is very handy.

“The OECD considers the digital transformation as the main driving factor of the global competitiveness of its members and has recently set up a horizontal project, called ‘Going Digital’. With this book, I wanted to support decision makers to understand and manage their country, region and company position, and to contribute to the intellectual debate on how to become leaders of changes, not losers. At OECD meetings, I usually have only three minutes to discuss, now I have 400 pages instead” – said Dr. Zoltán Cséfalvay.

The salon was opened by Zoltán Szép, Secretary General of BKIK. The moderator of the business panel was Imre Hild, Managing Partner at Global Traction. The panlists were Marian Gazdik, Managing Partner at IPM LLP, Zsigmond Bodnár, Founder of TechTeamer Inc, Péter Küllői, Entrepreneur, Philanthropist, Rita Veres, Chapter Lead, SingularityU Hungary, Nick Zimmerman, Chief Operating Officer at SAP Labs Hungary.

Video about the event is available here:

Santa Claus by the Danube workshop and roundtable in…

Multistakeholder roundtable at the Budapest Chamber of Commerce, Budapest

Guests: Kata Keveházi on EU founded SEEWBAN South East Europe Women Business Angels Network and Christian Gedeon from Austria, Managing Director, Rare Moments Kft. & Co KG,

10 with 30% men

What is the Way to Become Business Angels for…

Second Workshop – at Kaptár, Budapest on November 28, 2017

Participants: 80 with 15% men

The second workshop by the WOMEN/BUSINESS/ANGELS association and its coalition partners was held with 80 participants (full house!) in the Kaptár Community Office in Budapest. The series of workshops is designed to encourage women to want and be able to be involved in an increasing number in innovation-related business decision making. Hungary’s competitiveness and growth potential could be greatly improved by widening the pool of female entrepreneurs and angel investors. Women and men angels want to work together with men. The collective take-away from the first workshop (w/ 20% men) was that the number of business angels can be increased through network and training. With that in mind, the second workshop provided an insight into two life strategies: how you can build your own innovative financial business, and how you can create companies in Hungary while pursuing your career at a global enterprise. The showcased examples. A networking session.

Speakers: Dr Eszter Varga, General Manager of Pannonhitel Zrt., Kristóf Baltay Managing Partner of Develor. The workshop also introduced two members of the Coalition, namely Beatrix Bedő, co-founder of ImpactHub, and Zsófia Barcsik, President of Business Women Network. The building of global connections was ensured by three presenters: Selma Prodanovic, the driving force behind RisingTide of EBAN via skype, Dita Přikrylová, founding general manager of Czeckitas (the Czech Republic), and Kathrina Ramberg, First Secretary/Deputy Head of Mission at the Royal Embassy of Norway in Budapest.

Competitiveness and Innovation – Won’t Happen Without Women

First Workshop – at Impact Hub, Budapest on 9 October, 2017

Participants: 110 with 22% men
Outcome of the World Cafe part: women want network and training

„A special workshop held in Budapest was designed to encourage women to become business decision makers, investors or owners of businesses capable of successfully competing in the global arena. As a general rule, women are underrepresented in these roles in most of the places, particularly in Hungary. The Women/Business/Angels initiative used this event to launch collective brainstorming and community building towards making a change happen, looking for ideas on to how to involve more women – and men-beginners – in providing market-based financing, using their own funds, for innovative startups in Hungary and the CEE region.
To fill the gap in the Hungarian innovation ecosystem and to promote a more balanced gender representation among business angels, Antal Károlyi, President of the Hungarian Business Angels Network (HunBan) asked Eszter Szabó, the first female member of HunBan (and an angel investor of edUcate) to help mobilize women. Angel investors play a key role in the ecosystem as typically they are the ones who provide first-round investment for startups.„ Out of 100 participants more than 20% were gentlemen.
Speakers included
Candace Johnson, President of the European Business Angel Network, Orsolya Párkány Cofounder of joinmywedding, Katalin Ivánka Ivánka Designbeton co-founder, Lénárd Horgos, Partner at Absolvo Consulting, Veronika Pistyur, MD of Bridge Budapest moderated a panel of successful businesswemen. Alain Nadeau, Head of Office in EIB, Hungary.