Startups are defined as newly founded companies which create innovative products, services or business models which did not previously exist on the market. They pursue a clear international perspective, boast high growth potential and play an important role in the innovative strength and competitiveness of national economies. In the meantime, innovative startups comprise close to eight percent of the total of newly established companies in Vienna. The Austrian capital has also shown itself to be a dynamic startup pool in Central Europe.
Austria is a dynamic country with newly established companies:
| 2010 | 2014 | 2018 | |
| Newly established companies | 37.125 | 37.054 | 38.327 |
Source: WKÖ Statistic 2018
Especially Vienna is a booming startup-hub:
| 2010 | 2011 | 2012 | 2013 | |
| Vienna: Newly established companies | 9.253 | 8.325 | 8.279 | 8.403 |
| Startups | 484 | 478 | 532 | 638 |
| Share of startups | 5,20% | 5,70% | 6,40% | 7,60% |
Source: Startup-Location Vienna 2014, PGM Consulting
The Austrian Research Promotion Agency (FFG) offers a comprehensive funding system. Also, the Austria Wirtschaftsservice GmbH (aws) provides extensive financing.
