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Thursday, 16 October 2014 00:00

The Austrian Start-Up and Innovation Scene Recap

ABA-Invest in Austria and OSTA Washington hosted an event on the Austrian Start-up and Innovation Scene. Austria is offering one of the most attractive incentive systems for R&D activities in Europe, featuring substantial financing options for start-ups along with cash grants for later-stage companies. The event provided an excellent opportunity for entrepreneurs, researchers and investors to learn more about Austria’s advantages as a location for innovative start-ups. The 2014 Roadshow took place on November 3, 2014 at 6:00 pm at the Austrian Cultural Forum New York.

Conventional wisdom would suggest that America’s biggest monthly meeting of entrepreneurs, and engineers would occur in Silicon Valley, instead its hosted in New York and has gained significant traction as the ‘New York Tech Meetup’, as Slate, the US cultural magazine has noted.

Over the past decade New York City has transformed itself into a viable entrepreneurial west coast answer to the Bay Area. The 1776 business incubator based in Washington DC, recently outlined the fact that New York City indeed now ranks just behind Silicon Valley in terms of total venture capital dollar spend.

The recent roadshow hosted by the Office of Science and Technology Austria together with ABA-Invest in Austria is consequently testimony to this rapid development.

Hosted at the Austrian Cultural Forum NYC over 60 people provided for a packed venue, which saw various Austrian entrepreneurial stakeholders outline the innovation landscape in Austria. Speakers included amongst others accent, the high-tech incubator of Lower Austria, as well a fellow of the Austrian Institute of Technology, and both the Directors of the Office of Science and Technology Austria and ABA-Invest in Austria.

The testimonial of the evening was provided by the Austrian startup nextSociety that helps professionals and entrepreneurs quickly identify the most relevant connections in their network, based on their professional interests and business specialties. 

Entrepreneurship-wise Austria continues to provide fertile ground for entrepreneurs. The recent Global Entrepreneurship Index published by the Global Entrepreneurship and Development Institute (GEDI Institute) puts Austria in 18th place worldwide when it comes to efficiency of its national startup ecosystem. Austria in effect was placed ahead of economic powerhouses such as South Korea, digital innovators such as Estonia, startup curators such as Israel or research-intensive countries such as Japan. The study particularly highlighted the avid technology absorption evident in Austria, as well as the great internationalization aspect of its industries. In sum, the study highlighted as Austria as being “innovation-driven.” 

The success of the roadshows will be continued into the new year as the Office of Science and Technology Austria will venture together with ABA-Invest in Austria to the Bay Area, in order to further draw attention to the dynamic innovation landscape to be found in Austria.

 

 

Additional Info

  • Event Date: Monday, 03 November 2014
Last modified on Friday, 24 April 2015 18:54