Start a startup from the basement? – The BUM Basement Boost student application has launched.
In the city center of Budapest, there are numerous cellar and basement spaces that are currently underutilized, yet have significant economic and community potential. The BUM Basement Boost – Urban Startup Challenge invites students to rethink these spaces.
The program is a call for proposals combined with an intensive, practice-oriented course, during which participants will develop an innovative and commercially viable business concept for a real site in Budapest.
During the challenge, students will:
- work with a startup mindset
- create a business plan
- get acquainted with the challenges of urban business development
- and present their idea before a professional jury
The uniqueness of the application is that participants can choose from specific, existing cellar spaces, so the developed concepts are based on a real market environment.
Key milestones of the program:
- March 18: announcement of the application
- March 25: application begins
- April 7: intensive theoretical training
- April 8: site visit
- April 10: pitch presentation and evaluation
The best application will receive 250,000 HUF in prizes from the Budapest Chamber of Commerce and Industry, and there may also be an opportunity for the concept to be realized later with the support of the Budapest Business Development Foundation.
The initiative aims not only to develop the entrepreneurial mindset of young people but also to give new functions to the underutilized spaces of the city and reintegrate them into urban life.
Do you have a good idea for a special place in Budapest?
Show how a cellar space can become a successful business.
For more information, visit the BGE website!
Students can apply on the CoSpace platform starting from March 25!