The most innovative ideas are of use only, when they have successfully bridged the gap from lab to market. That’s why Austria has a wide array of national as well as regional funding schemes on offer. Focusing on start-up ideas in biotechnology and medical devices, Austria Wirtschaftservice (aws), the Austrian funding bank, provides financial support with its promotional programs „aws Preseed Deep Tech“ and “aws Deep Tech - Modul Seedfinancing”. The two programs aim at encouraging the implementation of scientific discoveries into businesses and to raise the number of new business ventures in the life sciences.

aws Preseed - Deep Tech

aws Preseed - Deep Tech provides funding for the phase before a life science company is set up. Costs related to the scientific implementation and the economic application of a project can be funded. The maximum amount of this non-refundable financial support is € 300,000. The maximum amount of funding can only be requested if the criteria for the gender bonus are met. Otherwise, the upper limit of funding is EUR 267,000.

More information and forms can be found here. 

aws Deep Tech - Modul Seedfinancing

The setting-up of an innovative and internationally competitive high-tech company needs a lot of know-how, courage and capital. aws supports the starting phase of young high-tech companies with up to € 1,000,000 combined with tailored advice and support. The maximum amount of funding can only be requested if the criteria for the gender bonus are met. Otherwise, the upper limit of funding is € 867,000.

Once the company is making profit or sold, financial support must be refunded. Customary securities usually needed for bank loans are not necessary. However, the company must be partly and adequately funded through private capital.

More information and forms can be found here.

aws connect

As a result of its great business activities, aws has a wide range of contacts to Austrian start-ups, (international) investors, and established companies with strong innovative capabilities. Through aws Connect, these contacts are to improve key players' networking in the Austrian economy. To this end, aws Connect connects these actors through neutral matching services. In addition to targeted online networking, the company's network can be expanded through participation in calls and specific events. With currently 1,600 registered users, aws Connect is the largest independent innovation network in Austria. Interested parties will find detailed information in the following program descriptions.

Registration or application for participation takes place on www.awsconnect.at