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iCatapult: a new business accelerator funded by Primus Capital

Hungarian venture capital fund Primus Capital announced its ninth investment. This time rather unusually it is not another technology startup, rather a business development company with the name iCatapult. Its goal is to promote local technology teams to global markets and put them on growth track.

Hungarian venture capital fund Primus Capital provided HUF 400 million funding for the establishment of iCatapult, a technology accelerator and business development company focusing on taking European technologies to global markets, primarily to the USA. The program, as well as the company will be led by former advisors of the venture capital fund Imre Hild and Peter Krajcsovics, while the technical knowhow comes from Digital Natives, represented by Kristof Bardos.

iCatapult's program has standard parts. First, the selected technology teams go through an extensive 3 month preparation program. Following the successful preparation the teams will travel to the US headquarter in New York City and start to execute the market access and business development plan in cooperation with iCatapult executives. As a part of the program the teams are able to work and live in New York City while constantly being exposed to market entry opportunities, clients, investors.

iCatapult provides access to world class local and international mentors who oversee the development and international launch preparation of each technology and team. In addition, iCatapult is on track to become a member of the Global Accelerator Network, other key partners include We Work Labs and Venture Out New York. iCatapult is also working on a roadshow concept with the Economic Development Council of New York City to provide a foothold for local technologies to enter one the largest markets of the world.