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Start your R&D Business in Austria

R&D © ADVANTAGE AUSTRIA

© ADVANTAGE AUSTRIA

April 18, 2011

Austria’s advantages as a business location for R&D presented in Chicago

Austria offers one of the most attractive incentive systems for research and development (R&D) activities in Europe. Substantial pre-seed and seed financing options for start-ups along with up to 80 % cash grants for later-stage companies are also available to U.S. investors in Austria. At an April 2011 event in Chicago, over 50 VIPs were briefed by leading Austrian experts on how to make use of a business location in the middle of Europe for their R&D business. The event was organized by ABA - Invest in Austria , the Office of Science & Technology at the Austrian Embassy in Washington D.C. in cooperation with Advantage Austria – the Austrian Trade Commission in Chicago.

Alexander Krajete, a scientist and founder of a biotech start-up, served as an example for how official Austria supports the transition from a purely scientific achievement into a veritable world business and what kind of grants, loans and institutional support are available. With the help of the high-tech incubator tech2b and their business program, he managed to develop the prototype for a new 4th generation biofuel reactor for transforming CO2 easily into methane and starting the biotech company. The presentation can be downloaded at http://ostina.org/downloads/pdfs/Presentation_StartyourRDBusinessInAustria.pdf .

Positive feedback was also given by the biggest international R &D investor in Austria, Baxter International. Baxter is able to recruit from Austria’s mid-level technical schools and agricultural universities the research personal it needs to develop and manufacture medical products that save and sustain the lives of people with hemophilia, immune disorders, infectious diseases, kidney disease, trauma, and other chronic and acute medical conditions.

Do you want to be the next one to start your R&D business in Austria? Gisbert Mayr from ABA-Invest in Austria in New York would be happy to work with you.

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