Hungary has been characterised by a lack of entrepreneurship. In this chapter, we analyse whether a highly internationalised large and innovative pharmaceutical firm with a long tradition, Richter Gedeon, could have an impact on developments in entrepreneurship in the country. We relied on semi-structured interviews conducted with the leading managers of the firm in question, and with representatives of firms and organisations which are in direct contact with Richter Gedeon. According to our results, the impact of internationalisation of the firm on local entrepreneurship can be connected to the intensive R&D activity, directly and indirectly. However, through neither channel could Richter Gedeon have a significant impact on local entrepreneurship, in spite of the substantial efforts of the company.