Unfinished project gets EU funding in Budakeszi

A project-firm based in Budakeszi received nearly 200 million HUF EU funding for the construction of a “business incubator building” and for the support of startup entrepreneurs. Atlatszo.hu investigated the case and found an unfinished construction and suspicious ties between the project managers and their partners.

Business incubator buildings are very popular in Hungary because their prices are usually lower than market prices and they provide startup companies with business advice and technical support. They play an important role in contributing to business development and creating new jobs in the given area.

A project named “Ante Portas – entering the world of business by creating a business incubator in Budakeszi” received 196.314.645 HUF EU funding through the National Development Agency (Nemzeti Fejlesztési Ügynökség) on the 25th of August in 2010. According to the project plans, at least 16 companies would settle in the new house and 26-30 companies would make use of its services. The estimated business income in three years was 215 million HUF. According to the NDA-database the project started on time in October, 2010 and was finalized in 2012.

But in reality, the business incubator is not ready at all. By February, 2013 the construction works have not been finished yet, and the NDA dismissed the final report of the project in December 2012. The number of tenants is problematic as well; so far the project has not achieved the target figures included in the contract. Besides the unfinished construction project, there are suspicious ties between the managers of the project-firm named Inku-Projekt Ltd. and their listed partners. The company was founded and registered by László Faldina and György Lovász. Atlatszo.hu investigated the background of the owners listed on the project’s website and pointed out that the partners of the business incubator development project were all recruited from other business interests of the owners.

Read the full article in Hungarian here.

Translation by Atlatszo.hu’s volunteers