Global-Spin News

Austrian Government Supports Research Spin-offs

Austrian Government Supports Research Spin-offs
Monday, 2 April 2018

The Austrian government has decided to launch a unique programme supporting academics in the creation of spin-offs. This initiative will invest €15 million into the programme, investing in individual projects with up to €500.000 of capital and 18 months of mentoring and training support. [1] During this time, the scientists should dedicate themselves completely to the research, not participating in other tasks such and teaching or other projects [2].

In 2016, 23 different spin-offs were created at 22 universities. This was an increase from previous year; however, Spin-off Austria is expected to double that number in the next three years [1]. In addition, the Austrian government is setting up Knowledge Transfer Centres around the country to help contribute to company success [3].

It is becoming clear that spin-offs offer important research and economic value to a country. The path that Austria is taking supports all possibilities from around the nation, increasing the probability of spin-off (and country-wide) success.