“In the past years Vienna has evolved into an incredible fruitful breeding ground for successful startups. I see three reasons that have made that possible: firstly, access to incredible talent, secondly, access to more and more capital flowing into the startups and thirdly, a very supportive city of Vienna that has cooperated and collaborated with startups from the very beginning.”
Vienna
Benjamin Rushin, Founding Partner @WeAreDevelopers
“Vienna is a springboard to build a global Company.”
Baher Al Hakim, Co-Founder @ Medicus
“The ecosystem in Vienna is very different for a startup. We are very impressed by the public grant landscape that is very beneficial for starting a green startup business in Austria.”
Katharina Unger, Founder LivinFarm
Ecosystem Highlights
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Economic center in the heart of Europe with around 500 million people
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200 headquarters of international companies are located in Vienna
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The largest German-speaking university location with almost 200,000 students
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1k research institutes
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46k employees in R&D
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17,5% of Viennese enterprises are active in the creative industries
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Rank 1 worldwide: Liveability Ranking 2018 & 2019
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#1 Best global Startup Hub 2019
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Rank 4 worldwide: Global Talent Competitiveness Index 2019
In recent years, Austria has gone from sleeping beauty to innovation and progress. The country welcomes startups and their founders with open arms. In fact, the economic and innovative efforts of enterprises, universities, research and administration are firmly focused on people.
Vienna, in particular, stands for knowledge-intensive, export-oriented economic performance and high-quality workplaces with a strong focus on people. Especially with initiatives like Female Founders, the Viennese ecosystem is very keen on establishing a diverse and inclusive startup environment. But Vienna also attracts many international entrepreneurs for its quality of life, talented labor pool, relatively low cost of living, central geographic location and the availability of early-stage funding – which makes it a great “testing ground†for startups in their very early phase.
All things considered, the fact that prevails is that Vienna is the ‘perfect destination to land your startup’. Know why by also visiting Vienna Business Agency.
Land & Start
SETTLING IN THE CITY
If you want to settle in Vienna, the main factor you should consider is the duration of your stay. Read about the visa permits and residence requirements on the links below.
In Vienna, there are diverse taxes and social insurance contributions that need to be paid – both by employers and employees. Check the list right here and a summary on page 30 of this digital file. More useful information on this topic below.
- Taxation;
- Guide for business startups (pages 60 to 72).
In what comes to insurance, there are also several forms of financial protection. See them on this link (page 32).
STARTING YOUR BUSINESS
Want to set up your company in Vienna but still don’t know how exactly? The following links will help you with the founding steps.
Contact Vienna’s local leaders for further insights on starting your business in the city.
- Vienna Business Agency;
- ABA-Invest in Austria;
- Arbeitsmarktservice (AMS);
- Austria Wirtschaftsservice (AWS);
- Austrian Startups;
- Home | Das Österreichische Patentamt
- Forschungsförderungsgesellschaft (FFG);
- Chamber of Commerce;
- WAFF;
- Gründerservice;
- WU Entrepreneurship Center;
- AAIA;
- Female Founders;
- Female Factor.
Get to know how to register your startup with competent authorities through this link.
Whether for personal purposes or to manage your business banking, opening a bank account in Austria is highly secure. The links below will clarify all your doubts.
Find the right location for your company and get all the necessary information on business parks, conference rooms and much more.
Access to capital
Financing is one of the most important issues involved in founding a startup. For this reason, Austria offers a comprehensive system of public funding. 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. You should also check the Vienna Business Agency website, which lists attractive and updated funding programs.
| Advice about Capital | Major VC’s in the country + Angels |
|---|---|
| If you’re looking for information on capital, follow this link. It helps you get access to consulting services on the topic. | Get to know a list of the biggest VC’s and Business Angels in Vienna. |
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