Austrian Startup Monitor 2022 - Austria's largest study on the domestic startup landscape
Under the leadership of the AIT Austrian Institute of Technology together with Austrian Startups and the WU Startup Center, the fifth edition of the comprehensive report on the development, dynamics and challenges of the Austrian startup scene is being published this year. This year's monitor also focused on the topics of migration, internationalization and employment. The Austrian Startup Monitor 2022 is being presented today together with Federal Minister Martin Kocher.
Startups as an economic engine
"Our survey shows that around 360 start-ups are founded in Austria every year. That's one company almost every day that contributes to more innovation and growth in Austria. More than 25,000 people are currently working in startups and there are plans to increase the number of employees by an additional 40%," says Karl-Heinz Leitner, head of the study at AIT. Startups are not only economic drivers but also play an important role in the transformation of the economy through innovative, technological advances. Every second start-up in Austria pursues overarching ecological and/or social corporate goals and generates added value for the climate, environment and/or society. With around 90 academic spin-offs per year, researched knowledge is actively applied and thus supports the successful shaping of the future.
The 3 biggest challenges for start-ups in Austria
Looking back on the past few years, start-ups have proven to be driving forces in times of crisis, overcoming challenges innovatively, recognizing new opportunities and creating new jobs in the process. Despite their resilience, the tense situation on the labor market and the difficult economic environment caused by the pandemic and war are still causing problems for young companies. "However, the top 3 challenges have not changed since 2018. Startups are still calling for a reduction in non-wage labor costs, incentive systems for private venture capital financing and better opportunities for employees to participate in the company's success." - Hannah Wundsam, Managing Director of AustrianStartups.
A quarter of founders have a migration background
In the latest edition of the monitor, the question of diversity in the scene was also addressed by taking a closer look at the topic of migration for the first time. A quarter of founders in Austria have a migrant background, meaning that they themselves and/or both parents were born outside of Austria. In order to reduce any barriers and better tap into the potential of founders with a migrant background, specific challenges faced by this group were identified. The survey identified a lack of networks, language barriers, cultural differences and bureaucratic hurdles as particular difficulties. "The results show for the first time that migrant entrepreneurs are not only strongly represented among the self-employed in Austria, but also as founders of the country's most innovative start-ups. Every fourth startup was founded by people with a migrant background. Startup founders with a migrant background have a better education and a stronger exit orientation than entrepreneurs from Austria and are more likely to be multiple founders ("serial entrepreneurs")." - Peter Vandor, Head of the Social Entrepreneurship Center at WU Vienna.
