As part of its exam, the Austrian Federal Government has announced the establishment of a roof fund, which is to be mobilized for privately and institutional capital for startups and scaleups. The young economy (JW) evaluates this step as a significant milestone for Austria: “We need courageous founders, but they need a strong ecosystem. That means: capital, know-how, specialists and modern legal forms. The roof fund is an important contribution to the entrepreneurial future of our country. Dorfer-Pauschwein, JW federal chair.
The planned roof fund is to be designed according to the “Fund-of Funds” model and, in addition to a public anchorage, is to be bundled in particular capital of pension funds, insurance companies and banks. The capital of the roof fund flows into young, innovative companies from Austria via several target funds. “Especially in the growth phase, Austrian startups often lack capital to make the leap into the scaling. The roof fund can close this gap and ensure that innovation, added value and jobs are preserved at home,” adds Lukas Sprenger, JW federal manager.
With the roof fund, the federal government sets a clear signal for the future orientation of the domestic economy. “The young economy will continue to actively accompany this process and work to ensure that Austria remains visible and competitive internationally as a founding country and location,” concludes Dorfer-Pauschwein. (PwK340/EB)
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