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Austrian Startup Monitor © AIT Austrian Institute of Technology GmbH
  • Location advantages
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Austria tops the list of the world's "hidden champions"

27. April 2023

On a per capita basis, the Central European countries of Austria and Switzerland are in the lead together with Germany. The three German-speaking countries account for more than half of the world's hidden champions.

Hidden champions graph EN
Source: Simon (2021) © 2022 IW Media / iwd

The world market leader in water-saving textile production, for example, is the Austrian company Lenzing Group. While the production of a cotton shirt requires around 2,700 liters of water, a shirt made of Lyocell - Lenzing's material - uses only 180 liters.

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Austria’s startup scene is evolving dynamically. With robust funding programmes, new government initiatives and a growing number of investment funds and support schemes, the country is becoming increasingly attractive to founders and investors alike. 

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© Vienna Business Agency – Karin Hakl

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In Graz, Cycuria Therapeutics is developing an innovative therapy designed to treat haematological cancers. Thanks to the close interaction of science, industry and clinical research, the business location of Austria offers outstanding perspectives with respect to the success of startups. 

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