The parliament of Austria in Vienna (© The Next Leap)
The government of Austria has presented its industrial strategy with 114 action points that include a commitment to a fund of funds that will focus on spinouts and scale-ups, with an anchor investment from the state.
The idea of a fund of funds first appeared in the coalition agreement signed in February last year, before the cabinet began discussing it in September.
The industrial strategy document now provides additional details, including a commitment to have the Startup & Scale-up-Dachfonds operational by early 2027. The wording, however, means it’s unclear whether it will begin investing or will start raising capital by that point.
While the industrial strategy makes no mention of a fund size, a study commissioned by the cabinet in September put forward two options: €300 million and €500 million.
The first option would see the state invest €60 million, while the second would include a public anchor investment of €100 million.
Supporting a focus on nine technology areas
The government will also deploy investment incentives to accelerate capital injections in nine key technology areas set out in the document, and boost investment in research and development personnel.
The nine key technology areas for Austria are the following:
- data and AI;
- semiconductors, electronic components and systems;
- advanced manufacturing and robotics;
- quantum and photonics;
- advanced materials;
- life sciences and biotech;
- energy and climate tech;
- mobility; and
- aviation and space tech.
The industrial strategy’s overarching aim is to enable a new industrialisation of Austria, turning the country into one of the top ten most competitive economies in the world by 2035.
