Austria has emerged as a startup hub, especially in the fields of information technology, media and life sciences as well as creative industries. The American business magazine Forbes selected Austria as one of seven startup hotspots in Europe, not least due to projects such as the Pioneers Festival, where 1,600 startups from more than 90 countries meet with 400 investors from all over the world in Vienna’s Hofburg Palace.
What’s In It For Your Startup?
We are the national investment promotion company and the first point of contact for foreign companies aiming to establish their own business in Austria. The service is owned and operated by the Republic of Austria and we directly report to the Austrian Ministry of Science, Research and Economy – hence you can get all relevant info at one place.
We also consult international investors on all location-related issues, provide information about Austria as a business location and proactively target potential investors, which is how we have established a broad pool of contacts including investors, accelerators and incubators – and this pool is ready for you to jump into it.
The interaction of several factors comprises the basis for this dynamic development, giving the business location a good reputation and enhancing its attractiveness:
-
The very high educational level from a technical perspective, guaranteed by the universities of technology and many universities of applied sciences.
-
The differentiated funding system, in which financial startup assistance is provided to high-tech founders based on specific programs and startup funds implemented by the Austrian Research Promotion Agency (FFG) and Austria Wirtschaftsservice GmbH (AWS).
-
The self-organization of the startup scene in startup clusters and coworking spaces, and its promotion through activities and large events such as the Pioneers Festival.
-
The supporting network of early-stage investors, incubators and business angels, which has become increasingly professionalized, as shown, for example, in the founding of the Austrian Angel Investors Association (AAIA).
-
The “public limited company with a privileged amount of share capital“, facilitating the setting up of companies by requiring only EUR 5,000 as a minimum cash contribution instead of EUR 17,500.
-
The investment-friendly tax system featuring a twelve percent tax credit for investments in research and a unified corporate tax rate of 25 percent.
For detailed information about the funding system for startups in Austria, please have a look at the website of the Austrian Research Promotion Agency (FFG) as well as the Austria Wirtschaftsservice GmbH (aws).
For general information regarding the "Startup Hotspot Austria" visit the Global Incubator Network (GIN) - platform.
