Forbes Magazine named Austria one of seven international startup hotspots. And there is a good reason for this, especially if one takes a closer look at the startup scene.
Austria has a relatively high rate of taxes and levies in international comparison. One use of these proceeds is a comprehensive funding system and support measures for startups and innovation projects. The offering of such funding is very diverse and well received by the business community.
The most important funding sources in Austria are the Austrian Research Promotion Agency (FFG) and Austria Wirtschaftsservice GmbH (aws). They offer non-repayable grants, guarantees or subsidized loans.
However, domestic risk capital firms such as Speedinvest and numerous business angels repeatedly assist startups by providing financing, and invest millions of euros in capital. Detailed information on the extensive funding possibilities for startups in Austria can be found on the startup-sections on the websites of FFG and aws.
The funding activities of the City of Vienna are bundled under the auspices of the Vienna Business Agency, and encompass consulting, services and favorably priced office space in addition to monetary funding.
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