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Austria offers EUR 100 Million for Start-ups

The state funding bank aims to increasingly assist start-ups in Austria. Recently AWS established its own start-up center designed to bundle activities such as funding and training. On balance, Austria will invest an additional EUR 100 million each year in promoting start-ups.

Federal Minister of Economy, Family and Youth Reinhold Mitterlehner primarily aims to facilitate the foundation of new companies on the basis of this measure. “Our main objective is to improve access to risk capital. A total of EUR 100 million in investment strength is available to start-ups and young growth companies thanks to our young entrepreneur offensive. In addition, on the basis of our GmbH (limited liability company) reform measures we have significantly reduced the initial obstacles and costs for business people. This facilitates the implementation of innovative and creative business models in Austria, particularly in the light of a difficult economic climate.”