In the autumn, the government announced a climate and transformation offensive and the first subsidies for domestic companies and research institutions are available. “It’s about the green and digital transformation – that’s a task for the next five years,” said Economic Affairs Minister Martin Kocher (ÖVP). It is also about reducing dependence on Russian gas, which is still very high.
During a press conference on Tuesday, the minister outlined the general financing framework up to 2030. The funds are intended to support research and development and boost investment. “This is Austria’s response to the US Inflation Reduction Act,” said Kocher. Especially in economically challenging times, it is crucial to support research and development.
“Treating the energy crisis and climate change holistically”
With the help of the subsidies offered, the government wants to accelerate the change of domestic location – it must become greener and more digital. Austria’s international competitiveness should also be strengthened in this way. All sectors must be as sustainable and digitized as possible based on renewable energy sources. “Current challenges related to the energy crisis and climate change are issues that we need to address holistically in the interest of a forward-looking business, research and production site,” emphasized the Minister of Economic Affairs.
The funds go to “application-oriented and technology-open research”, the promotion of the economy and “important projects, for example in the semiconductor industry”. “In this way we strengthen Austria as a business and production location,” Kocher expects. This should also reduce dependence on international supply chains.
Broad investment opportunities
According to the ministry, the programs, which are administered by the funding agencies FFG (Österreichische Forschungsförderungs GmbH) and aws (Austria Wirtschaftsservice GmbH), are open to “all promising technologies and all sizes of organization” – from start-ups and SMEs to industrial companies. The focus is on the automotive, microelectronics and life sciences sectors (fields such as biology, medicine and chemistry). In principle, however, other sectors can also submit applications. Promoting new settlements and expansion investments is also possible. The “openness to technology” was emphasized as essential. The companies and researchers “know best in which direction they want to invest”.
In concrete terms, funding is provided in three tracks: According to the information, applications for funding for research and technology development are possible from today, Tuesday. The point of contact is the FFG. In 2026, 300 million euros will become available. “There is an additional 55 million euros for 2023,” Kocher announced. Each project can be financed with a maximum of three million euros. Small and medium-sized enterprises (SMEs) could become global market leaders. From 2020 to 2022, about 80 projects per year have already been funded. In the past year, demand exceeded the available resources. Increased for this year.
Promotion of key workers
The second funding track concerns qualification measures for employees. 50 million euros will be available for this in the coming years, of which 10 million euros this year. According to Kocher, it will be possible to apply for so-called “skill checks” from next week. In addition, there are further training formats that have been newly developed for Austrian companies “so that sufficient key employees are available”.
For reasons of European law, the third financing channel has not yet started: location and investment financing. “We are preparing – the European framework for state aid is currently being revised. Once it is adjusted, we will make the best use of the legal framework for state aid,” said the Minister of Economic Affairs. “We want opportunities to arise here, to maintain competitiveness and to create jobs.” Between 2023 and 2026, 220 million euros will be made available here.
Source: Krone
I am Ida Scott, a journalist and content author with a passion for uncovering the truth. I have been writing professionally for Today Times Live since 2020 and specialize in political news. My career began when I was just 17; I had already developed a knack for research and an eye for detail which made me stand out from my peers.
