Hidden Champions of Hungary

Hungarian hidden champions continue to be small, highly innovative companies with strong, centralized leadership, as they were in the previous round of research. Although some hidden champions still rely on the traditional Hungarian industries, newly emerging ones provide applied software solutions and find their competitive advantage in customized state-of-the-art solutions or technologies. Hungarian hidden champions excel in the knowledge-based niches of big industries.

After a brief economic overview, this chapter discusses Hungarian hidden champions. Capsys Ltd. is a hidden champion in the banking software industry. Cyclolab Ltd. is a world market leader in the field of cyclodextrin solutions. Energotest Ltd. is a regional market leader in the field of modular, network-integrated technical testing stations. Tran-SYS Ltd. is a technology leader, producing life-like, complex simulation systems for interlocking, and railway operations. Tresorit Ltd. is a technology leader as an enterprise cloud encryption and collaboration company, which provides end-to-end encrypted file sync and sharing for businesses. The identified hidden champions offer state-of-the-art technology to satisfy customer needs mostly with well-customized solutions.