Report: Tech Start-Ups Vital for Europe, But Funding Gaps Remain
Between 2000 and 2023, Austria recorded 382 investors completing 1,527 tech financing deals for start-ups, totalling just over €3 billion.
A new report by the European Patent Office (EPO) shows that tech start-ups have the potential to drive innovation and growth across Europe, including Austria. However, a significant funding gap is holding back many promising ideas from turning into successful businesses.
“This funding gap stops innovations from turning into scalable start-ups and drives businesses abroad. If Europe is to see sustainable growth, we must address this issue,” said EPO President António Campinos.
While the UK, France and Germany are leading the way in attracting investors, Austria ranks 15th in Europe. The United States remains the gold standard for fostering scalable start-ups.
Austria’s Limited Role
Between 2000 and 2023, Austria recorded 382 investors completing 1,527 tech financing deals for start-ups, totalling just over €3 billion. By comparison, the UK, France and Germany collectively recorded around 75,800 transactions, supported by 6,100 investors, with deals totalling €392 billion.
Meanwhile, countries similar to Austria, like Sweden, Belgium, the Netherlands, Switzerland and Norway, saw over 24,400 transactions worth more than €88 billion during the same period.
Public Funding Takes the Lead
Across Europe, public institutions dominate tech funding. The European Innovation Council (EIC) is the leading investor both across the continent and in Austria, followed by Austria’s AWS Gründerfonds.
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