Will private investment continue this year?
According to Invest in Austria, the national investment promotion agency of the Austrian Business Agency (ABA).a survey of about 300 private investors from Austria carried out by the investor network Prime Crowd concludes that 65 percent would still like to invest in startups this year in spite of the coronavirus crisis.
Private investors want to primarily invest in digitalisation
The top choice are healthcare startups, favoured by 91 percent of the companies interviewed, followed by telecommunications with 71 percent and business services/human resources with 29 percent. The pressure of digitalisation will also lead to many investments. With respect to cross-industry areas, private investors want to primarily invest in the fields of big data/analytics, platforms/marketplaces and cybersecurity.
The public sector is also involved in supporting young companies. “With the EUR 150 million Startup Aid Package, the government has taken a necessary step to support the Austrian startup scene. Startups generate potentially high macroeconomic impacts with respect to jobs, innovations and investments. Accordingly, they are a key driving force and pacemaker for the future”, states Harald Mahrer, President of the Austrian Federal Economic Chamber (WKO).
ABA – Invest in Austria: Applied Artificial Intelligence Conference 2020
The Applied Artificial Intelligence online Conference 2020 will take place on May 11, 2020 and will tackle the following topics: How real world businesses make use of AI: – Use cases of Artificial Intelligence for businesses – Prearranged 1:1 meetings – See who’s there and create your own schedule – Keynotes from renowned international experts.
Invest in Austria is the first point of contact for foreign companies aiming to establish their own business in Austria. It is owned and operated by the Republic of Austria, and reports directly to the Federal Ministry for Digital and Economic Affairs. ABA provides consulting services to firms interested in setting up business operations in Austria, focusing on all issues relevant to selecting an appropriate location.
Source/Image Credit: Invest in Austria
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