Updated on 10/6/2022
Support fund for Start-ups
There have been repeated calls for specified aid packages for start-ups in Austria recently, and the government is now taking this into account. Two funds with a total volume of EUR 150 million will be made available. The funds come partly from private investors and partly from the federal budget.
The COVID-19-Startup Hilfsfonds (aws) with a volume of EUR 100 million (EUR 50 million each from private investors and the federal government) is intended to support innovative start-ups founded in Austria, which have financing and liquidity problems due to the crisis. In concrete terms, investments by private (domestic or foreign) investors (from EUR 10,000 to EUR 800,000) are to be doubled by the federal government. The settlement agency is the aws.
The VC fund with a volume of EUR 50 million targets technology-based start-ups that could complete a financing round without the crisis. In concrete terms, private venture capital is to be secured by a 50% state guarantee. The possible financing framework ranges between EUR 200.00 and EUR 1 million. aws is tendering the fund management and administering the guarantee agreements.
Further details on the two funds should be announced in due course. Of course we will keep you informed about new developments as soon as possible.
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