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One of Austria's key strengths as a business destination is its highly qualified and motivated skilled workforce for research and development, especially in the scientific sector.
As the European Investment Bank (EIB) announced, it will fund the Carinthian video streaming start-up Bitmovin with a loan of up to EUR 20 million. The money is primarily designed for research and development work.
If a business consisting of at least two people is established in Austria, it is considered to be a company. The rights and duties of the individual partners, for example the management, profit and loss sharing, agreements in the case of the death or retirement of a partner or the dissolution of the company are regulated in the memorandum and articles of association.