The Federal Ministry of Economy, Family and Youth is supporting alternative forms of financing for young companies in Austria on the basis of a new online platform.
At equityfinder.at both investors and startups can register and present themselves with a public profile. The platform is designed to serve as a kind of dating exchange for young companies and investors. The service comes to an end when specific business negotiations begin.
EquityFinder is operated by the funding bank Austria Wirtschaftsservice (aws). The platform is part of the Start-Up Initiative of the Federal Ministry of Economy, Family and Youth, which is also making various types of funding available to the amount of EUR 100 million. Up until now 20 startups and 22 investors are registered on EquityFinder.
“Equity capital requirements of banks have become stricter. In particular, young companies growing at disproportionately high rates often face the problem of how to raise sufficient capital to implement their business ideas. For this reason, we want to facilitate the financing of new products and services with alternative forms of financing”, says Reinhold Mitterlehner, Federal Minister of Economy, Family and Youth in explaining the underlying reason for the initiative. “In this way we also meet the objectives encompassed in our new business location strategy, because startups and SMEs along the entire value chain work closely together with flagship companies.”