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The Vienna Region records an average of around 20,000 start-ups every year. In Austria the share of young entrepreneurs among the working population has reached a new all-time high of 10.9 per cent. Austria already comes in third compared to the rest of Europe.
The latest data on Austria’s business environment and its framework conditions was analysed in the course of the Global Entrepreneurship Monitor (GEM), the largest international comparative study on entrepreneurship.
Business founders are getting younger and more international – they are an average of 37 years old and increasingly focus on markets beyond Austria: 43 per cent of them already find more than a quarter of their customers abroad.
More than 20 per cent of Austria’s young entrepreneurs are technology leaders, and more than a quarter are considered innovative niche players. These businesses feature significantly higher growth expectations and levels of internationalisation.
Taking a closer look at the national context and entrepreneurial environment, Austria ranks in fifth place in Europe, assuming a top position in the European business community.
Source:GEM Austria| Institute for International Management at FH JOANNEUM
Vienna Region in the lead!
Most start-ups are located in Vienna and Lower Austria, but also the Burgenland region boasts an above-average start-up intensity*.
According to the latest Mercer study, Vienna has been ranked as the best city in the world to live for the 10th year running. And there is more! The Vienna Region is, first and foremost, an economic and political hub in the midst of Europe, offering a strong economy, highly trained personnel, excellent infrastructure and an extensive talent pool (220,000 students).
Moreover, the Vienna Region is leading in the field of pre-seed, seed and further start-up support, including funding, consulting, workshops and subsequent coaching for founding a business, finding business or office space, and establishing contact to potential partners.
All this and more turns the Vienna Region into a hot spot for entrepreneurship and an ideal starting point for the European market.
Source: Statistics Austria, Vienna Business Agency, Austrian Federal Economic Chamber
* Start-ups in per cent compared to the number of active members of the Austrian Federal Economic Chamber