By using our website, you are agreeing to cookies being stored and Google Analytics being used on your device in order to offer the best possible service. You can find more information on thishere.
Dynamic Business Location.

EUR 150 million to rescue startups

Austrian Minister Margarete Schramböck © Federal Chancellery of the Republic of Austria

Many jobs are linked to startups. For this reason, they are "extremely important for the economy." Moreover, "startups create tomorrow's markets and are a dynamic factor for the business location", Minister Schramböck says.
More specifically, there will be two relief funds available to startups. One is the aws COVID-19 Relief Fund (aws = Austrian promotional bank) endowed to the amount of EUR 100 million, and a EUR 50 million Venture Capital Fund. The two funds together comprise a total volume of EUR 150 million.

aws COVID-19 Relief Fund

EUR 50 million will be supplied by the public sector, thus leveraging another EUR 50 million in investments from the private sector, comprising a total of EUR 100 million. Margarete Schramböck, Federal Minister for Digital and Economic Affairs, announced that the fund will already be up and running next week.
Startups founded in Austria are entitled to aid. However, private investors can come from both Austria and abroad.

VC Fund

The Venture Capital Fund with EUR 50 million in resources focuses on Austrian startups which could, in all probability, successfully conclude a round of financing if there were no COVID-19 crisis. However, the fund has to first be put out to tender. According to Minister Schramböck, this process should be completed in two weeks. The aws will be responsible for managing the fund.

Read more about Startups in Austria.
Find detailed information about the aid package to support startups.

Share on Facebook Share on Facebook Share on Twitter Share on Twitter Share on Linkedin Share on Linkedin



Meet us at events, seminars and trade shows - worldwide.

  • ILA Berlin Pioneering Aerospace 2022

    22.06.2022 - 26.06.2022, Berlin, Germany

Austria Map

Find the perfect location for your company

Austria is well known for its social stability and excellent labor relations where strikes are measured only in seconds. As a global player, reliable deliveries are a top priority for us.

Opel Austria

More testimonials

news from the business location Austria

EU Commission relies on Austrian battery tests

The startup AVILOO headquartered in Lower Austria became the first company to develop a diagnostic test for electric car batteries.


Since 2007 PHIOS has accompanied well-known companies in the implementation of particularly challenging and complex software projects. At the beginning of May 2022, the Liechtenstein company opened its Vienna location. From here, the Austrian market is to be built up and neighboring countries in the east are to be worked on. The managing director is Stefan Vögel, an expert with many years of international experience in strategic consulting and project management.

More news All blog posts