Hungary has a long tradition of higher education reflecting the existence of established knowledge economy. The established universities in Hungary include some of the oldest in the world, the first was the University of Pécs founded in 1367 which is still functioning, although, in the year 1276, the university of Veszprém was destroyed by the troops of Peter Csák, but it was never rebuilt. Sigismund established Óbuda University in 1395. Another, Universitas Istropolitana, was established 1465 in Pozsony by Mattias Corvinus.