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What is the incubator?

In a transferred sense, “incubator” means to help young entrepreneurs get started. The incubator is a existence founders and technology centre, i.e. an institution mostly supported publically by way of the relevant Federal Provinces, local communities and/or municipalities (with increasing participation of private businesses) to support technology-orientated (mostly innovative) new foundations and young entrepreneurs. In addition, technology and founders centres are designed to contribute to regional economic development in many areas.

What is the meaning of the name tech2b?

Technology to Business

What services does tech2b offer?

Coaching for the establishment of a business, education and training in business-relevant special areas / coaching for the elaboration of a business model, business plan, management strategy, sales and marketing concepts, installation of a technical-economic Advisory Board – public funding – infrastructure and network.

How much money can a start-up expect?

Generally, the maximum amount of public funding can be € 100,000.
Due to the fact that not every start-up project has the same requirements, the amount of financial support can vary. Ideally it is about 40-45% of € 100,000. In any case 40% of the total investment must be paid back within 5 years (beginning at 3rd year with no-interest). For the period of repatriation, even after leaving the incubation program of tech2b, the founders are also committed to report to tech2b as well as to public institutions.

What kind of ideas are most suitable as founding projects?

tech2b particularly supports and promotes high-tech founding projects in the areas of information technology, mechatronics, life science, biotech and nanotechnology.

What are the prerequisites required for tech2b?

The requirements are: high technological degree of innovation, new foundation project, the foundation must take place in Upper Austria, and at least 1 designated founder must be an academic.

How does the application process at tech2b work?

After your application, tech2b will make a pre-selection. If this selection turns out to be positive, the necessary application documents will be drawn up with your allocated advisor. In addition, a scientific and economic expert report will be obtained from independent persons and/or institutions. The documents will be submitted 6 weeks before the meeting of the Awarding Advisory Board. During this meeting you will personally present your project. In case of a positive decision, you will receive your service contract and you will be accepted for the incubator.

What is important to the Awarding Advisory Board?

For the awarding meeting, the following documents must be prepared: planning paper (i.e. a roughly simplified business plan), cost plan (list of all forseeable costs), milestone plan (economic and technical) as well as scientific and economic expert reports by external, independent professors and/or persons from the industry.

For how long will tech2b support me?

The services by tech2b will be provided for 12 to a maximum of 24 months, depending on the relevant project.

What are the costs for the services provided by tech2b?

The services provided by tech2b will not be charged. They are part of the promotion program.

How many persons will be supported?

A maximum of 2 persons can be funded.

Who is behind tech2b?

The partners of tech2b are: Upper Austria Research, Oö. Technologie- und Marketing GesellschaftmbH, Economic Chamber for Upper Austria, University Colleges of Upper Austria as well as the Johannes Kepler University.

How can I contact tech2b?

The best way to contact us is via e-mail. Ideally you can send us your idea in a short and precise description. If available, you may send a business plan along with this description.

Where do the supporting funds come from?

tech2b receives funds from the Federal Government, the Federal Province of Upper Austria, local banks and several other strategic partners.

What does AplusB mean?

The Academia Business Spin-off Program (AplusB) is an initiative by the Federal Ministry of Traffic, Innovation and Technolgy (BMVIT). The Austrian Research Promotion Agency (FFG) is responsible for the administration of all counselling, selection processes, establishment and controlling.

Will tech2b take shares in the business?

No, tech2b may not participate in the newly founded businesses.

What if the project fails? Will I have to pay the funds back?

It will depend on the circumstances. If the business failure is due to personal failures, or if the awarding rules are not complied with, the funds might be claimed back. So far, there has never been any reason for such actions.

May I keep another job apart from the project?

You may keep a part-time commitment of 20 hours per week.

What if I find out in the middle of the process that I would not like to/cannot found a business now?

In this case, the funds will have to be paid back.

May I receive additional financing/funding in addition to tech2b?

Yes. In close co-operation with the Research Promotion Agency and the Austria Wirtschaftsservice GmbH (AWSG), special programs for follow-up funding after tech2b are offered.

Will it compromise other subsidies if I have received funds from tech2b?

No. The funding must only comply with the de-minimis rules.

How many of the foundations with tech2b are successful?

So far over 90% of all foundations have been successful.

Is there anyone who has already sold his/her business?

Several young entrepreneurs have sold shares in their businesses. This mostly happens, if a business angel or venture capitalist participates in the business as an investor.

May I already have founded another business?

The business may not have been founded for the submitted project.

Does there have to be a patent for the project to be supported?

No, but it is an advantage for the further project development, especially with respect to follow-up financing.

Is there any continuing support/counselling after the time with tech2b?

tech2b has developed its own after-care program. The founders’ advisors offer counselling services on the topics of financing, staff development, business model optimisation, development of sales structures, marketing and management strategies and they customise them according to the needs of the young entrepreneurs, in accordance with their management.