Vienna – the city for innovative start-ups
Vienna is fertile ground for start-ups and young entrepreneurs wishing to make their ideas and projects come true. Not only does it boast the highest quality of life and ranks high where innovation is concerned, it is also the biggest university city in the German speaking world. In recent years people have increasingly been finding that Vienna is far more than a city of music but one of research, innovation and start-ups too.
Vibrant, inspiring and diverse as it is Vienna is quickly approaching the rank of other attractive start-up cities such as Berlin, New York and Copenhagen. Vienna came in sixth in a ranking of the TechCocktail “Top 10 Start-up Cities 2015 - Where Entrepreneurs Want to Meet Up”, an internet platform which assesses requests from the platform Startuptravels.
“Vienna is a very big start-up hub for the Central European region”, says TechCocktail in an effort to explain what draws entrepreneurs to Vienna: “With serial entrepreneurs, investors, and low-cost co-working spaces compared to the big startup hubs like London, Vienna has all the components start-ups are looking for.”
It then goes on to describe what entrepreneurs can expect from the city once they arrive: “Vienna has a very active start-up scene with competitions and events, and these events connect Eastern and Western European start-ups. One of the most important international events is the Pioneers Festival.“
The Vienna start-up ecosystem has been developing rapidly in recent years with the support of a variety of activities and initiatives. Start-ups have many different services at their disposal, including the Vienna Business Agency, the Vienna Economic Chamber and AWS for business promotion.
The city has now come up with a new strategy for research, technology and innovation. With “Innovative Vienna 2020“ as its goal Vienna wants to be particularly attractive for researchers and business founders. Good business ideas are to become reality here. As it strives for excellence as an international start-up hub Vienna will create the ideal business environment for researchers and entrepreneurs and bring its culture of welcome to perfection.
Idea turns business
Initiatives, such as “Gründen in Wien“ (founding in Vienna) offered by the Vienna Business Agency, as well as the rapid increase in the number of co-working spaces are good proof that the start-up scene in Vienna is indeed alive and vibrating. This pioneering spirit is actively supported by the Vienna Business Agency. Initiatives and businesses are networked at all levels, they are provided with the necessary know-how and financial means, both nationally and internationally. The “Vienna Start-up Welcome Package“ for one was established to help selected international businesses develop their business ideas in Vienna for a period of three months.
Along with business promotions and affordable, flexible premises the Vienna Business Agency offers free-of-charge multilingual services for founders and young entrepreneurs wanting to implement their ideas for the long run. Individual consultancy, coaching on founding, financing and expansion, as well as specialised workshops are just some of the options available.
Start-ups are a driving force for innovation and value creation. The number of new businesses has been rising continuously for many years. More than three quarters of start-ups in Vienna are linked to technology and IT, and more than one fifth are located in creative industries.
Vienna leads the way in eGovernment and also lays claim to a top position in IT. It has attracted plenty of know-how from different areas in recent years and boasts excellent training centres and an active scene that start-ups thrive on. “Digital City. Vienna“ was initiated to network IT businesses and the Vienna City Administration, while “Virtual Campus Vienna - Where IT meets Smart City meets Start-up“ offers comprehensive information for businesses and start-ups.
Start-up hub Vienna
Neu Marx in the 3rd district is home to the Campus Vienna Biocenter, the Media Quarter Marx (MQM), the T-Center, the Marxbox and with its many additional projects has proved a perfect location for media, research, technology and creative industries. Furnished with affordable and flexible start-up offices provided by the Vienna Business Agency and the academic start-up service INITS it has turned into one of the hotspots for start-ups in Vienna.
Vienna is home to the Pioneers Festival, one of the biggest annual conferences for entrepreneurship and new technologies in all of Europe. Almost 700 start-ups from across the globe apply for the Pioneers Award. 2,500 visitors, numerous sponsors and partners contribute to this one-of-a-kind event.
Vienna is a young, growing and multicultural city with excellent training institutions and a high quality of life. According to Consulter Mercer Vienna regularly ranks first for quality of life – again in 2015. This mix of factors makes Vienna the perfect breeding ground for different branches of all sizes: for start-ups, small and medium sized businesses and large corporations.