Innostart National Business and Innovation Centre was formed on 1st April 1994 on the initiative of the Hungarian Innovation Association and with significant support from the EU PHARE programme, as a foundation, on the model of Business and Innovation Centres (BICs) already present in the European Union for more than 15 years.

Innostart as a public utility organisation assumes a decisive role in dissemination of BIC methodology and know-how countrywide for improvement of the business development and support system.

Innostart`s mission is to identify the most promising innovative projects, to back their achievement and market exploitation with its services and expertise, advise and provide a favourable infrastructure and a creative environment through the innovation park services. Its task is to build up and maintain an innovative culture and environment to stimulate and support the local and regional initiatives and international co-operation.

Innostart is part of the Hungarian and international business development institutional system. It supports innovation-based small and medium sized enterprises (SMEs) with its special expertise and network resources, offering promising projects to venture capital investors.

Innostart participates in the ALTENER programme, CORE Business (Countering Opposition to Renewable Energy and Facilitating Regional RE Business Development). The project aims to promote RE technologies by developing regional RE business development action plans and to initiate the necessary regional investments in RE technologies. In developing such action plans, it is intended to win the confidence of citizens and overcome some of resistance to RE deployment.