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Launch of life sciences funding package

Margarete Schramböck (m.), Federal Minister for Digital and Economic Affairs, Austrian Research Promotion Agency Managing Director Henrietta Egerth (r.) and Guido Gualdoni (l.), Managing Director of the Viennese startup G.ST Antivirals © Holey/BMDW

Featuring a budget of € 50 million, it is the largest life sciences funding package ever initiated by the Federal Ministry for Digital and Economic Affairs. The "Austrian Life Sciences" programme is designed to close funding gaps and expand the portfolio in the field of industrial research and clinical studies. The focus of the funding initiative is on the fields of pharmaceuticals, medical products, digitalisation and production processes. The package also includes funding for clinical studies carried out by companies.

In recent years, the life sciences sector has become a growth driver for the Austrian business and research location. The life sciences sector generates 7% of the country's GDP and secures more than 60,000 highly qualified jobs. It is one of the most innovative industries and features a research ratio of 20.5% of revenue. Startups and SMEs in the field of biotechnology frequently boast a research ratio of around 70%.

Go on reading and learn more about the life sciences sector in Austria!

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