Most IT companies are more than willing to promote their company and people headquartered in ‘the technology hub of x.’ But are they really and what might make that true? What does technology hub really mean in the first place? While there is no quantifiable method to define ‘tech hub’, reasonable people can hopefully agree that the following criteria are at minimum, a good start. And why Budapest, Hungary 100% (ITG delivery center) absolutely qualifies to say as much.
‘TECH HUB’ REQUIREMENT 1: SKILLED GRADUATES FROM LOCAL UNIVERSITIES.
Budapest produces 5,000 engineering graduates every year from the some of the oldest and best engineering universities in the world:
- Eötvös Loránd University (founded in 1635, 5 Nobel laureates)
- Budapest University of Technology and Economics (founded in 1782, 4 Nobel laureates)
- Szent István University (founded in 1787, Bachelor/Masters/Doctorate programs)
- Hungary has produced 13 Nobel laureates in total–one of the highest per capita rates in the world.
‘TECH HUB’ REQUIREMENT 2: MONEY AND JOBS.
‘TECH HUB’ REQUIREMENT 3: A GROWING TECH COMMUNITY.
Meetups, hackathons, conferences, team building. And all within easy reach and/or happening within Budapest’s 7th District and famous “ruin pub’ culture.
TECH HUB’ REQUIREMENT 4: SPEAKING MULTIPLE EUROPEAN LANGUAGES.
At least one foreign language certification is required of all graduates of Hungarian universities. English and German are most common but many are speaking French, Spanish and Italian too.
‘Tech Hub’ Requirement 5: High quality of life & easy to relocate to.
- VERY reasonable cost of living
- is the geographic center of the European Union and easy to access by flight or rail
- has modern, cheap and efficient public transportation
- delicious local fare + a wide array of international and cosmopolitan choices too
- fabulous but relatively unknown wine culture
- Lake Balaton is a short drive and the Austrian Alps only 5 hours by car
- European work/life balance = happy employees