More than 900 companies (a rise of 11 percent) with a staff of close to 55,500 employees already operate in the sector. This was the conclusion of the Life Science Report Austria 2018, compiled by aws Austria Wirtschaftsservice on behalf of the Ministry for the Federal Ministry of Digital and Economic Affairs.
About EUR 290 million in fresh capital was injected into biotech companies in 2017. Revenue of the 127 biotech startups amounted to approx. EUR 313 million. The study was carried out for the first time since the initial study took place in 2014. At that time investments, funding and loans amounted to about EUR 87 million, and revenue was at EUR 198 million. The lion’s share of financing came from venture capital investors. Biotech firms raised about EUR 137 million in risk capital in 2017, comprising a three-fold increase compared to the year 2014. “In past years Austria has established itself as an internationally respected location for companies along the entire value chain. This dynamic development is also reflected, for example, in the extensive interest displayed by international companies which want to cooperate with national players”, says aws Managing Director Bernhhard Sagmeister.