CEU InnovationsLab Company AbsoRice Named Innovative Startup

AbsoRice Hungary Kft., a CEU InnovationsLab company, received the "Innovative Startup of the Month Award” from the Hungarian Ministry for National Economy. CEU InnovationsLab is a business incubator operated at Central European University. Founders and Managing Directors Marton Olah and Tamas Peter Nagy accepted the award from Minister Mihaly Varga in a ceremony held March 14.

AbsoRice, founded in 2012, develops, produces and distributes high-protein powders and bars that are gluten- and lactose-free and entirely vegan. In his acceptance speech, Olah thanked CEU InnovationsLab for the coaching and networking support of their business. Olah and Nagy have worked with the InnovationsLab since 2016, after Nagy earned an MBA at CEU Business School. Since then, the company's revenue has doubled, and is expected to triple this year. While at the InnovationsLab, the pair strengthened their branding and marketing strategy and launched an internship program for recent graduates in food engineering.

AbsoRice products are available in Hungary, the U.K., Germany, and Greece, and next on the list for launch are Poland and Spain. The company was recently featured in Hungarian Forbes magazine, available here (in Hungarian). Find out more about AbsoRice and its products on the company's website http://www.absorice.hu/