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Startup Hub for CEE: Vienna among the Top Ten Startup Hotspots in Europe for the First Time

Skyline Wien © Julius Silver

If you could start all over again from scratch, where would you begin? This question was posed to 700 founders by the European Startup Initiative (esi). The resulting Startup Heatmap Europe shows that Berlin is ranked as the top location, but Vienna is also highly sought-after. The Austrian capital is rated tenth among 30 European cities, beating out Paris, which placed 13th.

Talented people are the most important factor

The survey shows that Vienna is considered by the interviewed founders to be a particularly good location for high-tech startups. In general, these entrepreneurs consider talented staff to be especially crucial. 71% would go to another city just because of the talented people there. Vienna scores points in this regard, in light of the fact that it has 200,000 students and 21 universities. Every tenth person in Vienna is studying. In particular, the CEE competence available in Vienna is helpful. About one-quarter of all students are not citizens of Austria. 

Vienna is a convincing location thanks to its infrastructure and costs

According to esi, founders also consider the ecological system (69%), costs (51%) and access to capital (44%) to be key factors underlying their decision in favor of a particular location. Asian startups are excited about Vienna’s advantages. They can reach all European capitals within three hours from Vienna Airport, and can also travel overseas quickly. Other business location factors which stand out internationally are the infrastructure and rental costs.  

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