Hungary strives to be central Europe's start-up capital by 2020

AMBITIOUS: Hungarian Gyula Feher, co-founder of the Ustream startup company, poses for a photo at their headquarters in Budapest downtown. Availability of capital, well-trained engineers and lower salaries: professionals here insist Budapest is an ideal base for IT startups.

BUDAPEST: From a sleek, modern office in the middle of Budapest's old town, Ustream provides live video streaming to clients such as Samsung and Sony. 

Nearby, Prezi has created a zooming presentation tool that even U2 singer Bono used last year for a talk on global poverty.