After the peak, many start-ups experienced a deep fall. In addition, due to a lack of financing, few young companies are currently emerging. In the ‘Krone’ interview, former manager and business angel Werner Wutscher sees the universities as an important lever: ‘Austria must exploit its potential more.’
About 3.2 percent of Austria’s gross domestic product flows into research and development. A top position in Europe, only Sweden and Belgium spend more. But the output is not optimal, says Werner Wutscher, former board member and investor of Rewe: “The startup ecosystem is well developed in Austria, but given our high expenditure on research and development, there should be more innovative startups in Austria.”
Source: Krone
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
