SMEs receive up to 64,000 euros for new developments
Vienna (OTS) – Artificial intelligence (AI) is on everyone’s lips and is the driver of digitalization today. According to a survey by Statistics Austria, eleven percent of Austrian companies use artificial intelligence in their business activities. The size of the company is crucial for the use of AI. The larger a company, the more likely it is to use AI technologies. Only nine percent of small companies with ten to 49 employees, but 35 percent of large companies with over 250 employees, use some form of AI.
The waff is now focusing the Innovation and Employment funding initiative on innovative AI developments. This addresses small and medium-sized companies that pursue innovations with AI and hire at least one new person to implement them. In total, a company can receive a one-off grant of up to 59,000 euros. A company can receive an additional up to 5,000 euros for measures to promote equality between women and men in the company. Applications are possible from now until August 27, 2024.
City Councilor for Economic Affairs Peter Hanke explains: “Artificial intelligence is about a future topic that is enormously important for the economic development of our city. We therefore want to sustainably support Viennese small and medium-sized businesses in the development of innovations based on AI. It is important to me that both the employees* Both internally and the economy benefit from this. And so the waff funding combines the successful use of AI with new employment of qualified specialists and strengthens Vienna as a business location.”
Artificial intelligence is of great importance for Vienna as a location, also given the size of the ICT industry. 8,800 companies with around 67,000 employees generate a gross value added of around eight billion euros, which accounts for over ten percent of the turnover of the Viennese economy.
Fritz Meißl, managing director of waff: “By promoting innovation and employment, we also specifically support AI-based innovations and do so very extensively. New employees, the development of know-how through further training and advice are supported.”
Sabine Seidler, MINT representative for the city of Vienna: “This initiative will create exciting, innovative jobs that will help strengthen interest in careers in the diverse field of information technology. A particular added value lies in linking the funding with equality measures.”
AI optimizes postcard printing in print shops
Rene Heinzl, Managing Director of Building Digital Solutions 421 GmbH, applied last year with the AI innovation project “KnowledgeCraft”, a new AI system in the area of knowledge graphs. For the implementation, he hired an IT developer who accompanies and advances the innovation. He describes how waff’s innovation funding supported his specific project: “Waff’s funding was a crucial factor in the successful implementation of our ‘KnowledgeCraft’ project. Thanks to the financial support, we were able to hire a specialized IT developer who made a significant contribution to the development and implementation of our AI solution and already has a customer from Germany win.”
A specific area of application of the AI-based tool is the forecasting of print jobs for printing companies in order to minimize their fixed costs, for example when printing postcards. By using “KnowledgeCraft”, companies can better estimate printing volumes, plan the required number of employees in advance and optimize employee working hours. This not only leads to more efficient use of resources, but also significantly improves employee satisfaction. Print shops in Austria and Germany are already using the tool. The next step is to expand its use across Europe.
waff promotes innovation and employment
The funding initiative supports half of the personnel costs of newly hired innovation assistants (max. 47,000 euros), half of the training costs of employees (max. 7,300 euros) and half of the consulting costs (max. 4,700 euros). In addition, a bonus of up to 5,000 euros is possible for gender equality measures for women and men in the company.
Submissions are via the website www.waff.at possible until August 27th. Further information is available at 01 21748-516 or innovation-wien@waff.at. The Vienna Chamber of Commerce offers a free application check for SMEs at 01-51450 1642 or foerderref@wkw.at.
The waff has funded 619 projects with a total of 25.6 million euros over the past eleven years through the Innovation and Employment funding initiative.
Questions & Contact:
Johann Baumgartner
Media spokesperson weapons
Tel.: 01 21748 330
Email: johann.baumgartner@waff.at