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Funding Possibilities for Life Sciences Companies
Austria offers a broad range of funding possibilities for companies operating in the field of life sciences. Companies have suitable programmes at their disposal designed to promote their growth, from financial support for research projects to funding innovation and site development.
Austria is resolutely committed to funding innovations in the life sciences sector. One outstanding funding programme is the Austrian Life Sciences Programme 2024 to 2026. This offers the opportunity to fund research and development projects as well as clinical studies in the life sciences industry. Funding is capped at € 3 million for corporate projects in experimental development and clinical studies, whereas a maximum of € 1 million is available for company projects in industrial research and € 2-4 million for flagship projects. On balance, a total of € 45 million in funding is available in the period 2024-2026.
Funding decisions are made at specified deadlines. Companies have the possibility to take advantage of a range of counselling options e.g., within the context of events such as the Austrian Life Sciences Programme held in Innsbruck on 24 April 2024, the Forum Clinical Research 2024 in Vienna on 14 May 2024 and the Life Science Day 2024 scheduled for 4 June 2024 in Graz.
The City of Vienna also offers various funding initiatives in the field of life sciences. These include the Strategy VIENNA 2030, of which one of the thematic areas is ”Vienna as a metropolis of health.” The Vienna Business Agency supports companies in developing innovative solutions for human health. Projects which contribute to improving health care, from prevention to therapy, are eligible for funding. Companies have the possibility to benefit from generous subsidies of up to € 600,000 per project, with an additional bonus for women and company founders. Moreover, there are founding grants providing financial support to prospective founders as well as coaching and networking offerings to enable them to successfully implement their innovative ideas.