15 July 2025 Hattmannsdorfer/Hanke: Innovation policy as the key to Austria's economic future Austria ranks 8th in the European Innovation Scoreboard this year

With the realignment of the 'Frontrunner' initiative, the Federal Ministry for Innovation, Mobility and Infrastructure (BMIMI) and the Federal Ministry for Economic Affairs, Energy and Tourism (BMWET) are launching another impulse to strengthen Austria's innovation and industrial location. From now on, technology-oriented companies will be supported through a uniform funding scheme that specifically enables contributions to digital and sustainable transformation.

The initiative is aimed at internationally active companies looking to consolidate or expand their technological leadership through ambitious innovation projects.

"Our ambition as an innovation location in Austria is to catch up with the European innovation leaders. The European Innovation Scoreboard is therefore a clear call to action for an active, forward-looking location policy. Only those who invest in innovation today will secure the jobs and prosperity of tomorrow. That is why we are clearly committed to research and development - especially in economically challenging times. This is why the research budget in the BMWET remains secure and no savings are being made here. In this way, we are creating stable framework conditions for innovation and specifically strengthening forward-looking technologies - from life sciences to microelectronics," says Economics Minister Wolfgang Hattmannsdorfer.

"Austria's competitiveness as an industrial location is the result of its strength as a centre of innovation. We are therefore continuing to pursue the long-term goal of the RTI Strategy 2030, which is for Austria to become one of the top 5 nations within the EU. To achieve this, it is important to continue to drive forward research and innovation policy developments. In my department, this is done through the targeted promotion of key technologies - from AI and quantum technology to building and energy technologies and space technology. The aim is to further strengthen and expand central future areas and existing areas of strength," says Innovation Minister Peter Hanke.

Austria stands out in the ranking primarily due to the high level of innovation in the Austrian corporate landscape. Austria's first place in the registration of intellectual property rights, one of the 12 ‘dimensions’ in the EIS, is outstanding.

"It is our duty to keep highly innovative start-ups and spin-offs in Austria beyond the founding phase. We often support the training of founders, research and development as well as the founding of the company itself. In the growth phase, however, companies move away due to a lack of growth capital. That is why we are working on a fund of funds to close this financing gap in the innovation system," emphasises Economics Minister Wolfgang Hattmannsdorfer.

"Intellectual property is not just a driver of innovation - it is a location factor with economic leverage. The fact that we are number one in Austria in terms of intellectual property rights shows that our companies are at the forefront of technology. Now we need to strategically convert this lead into economic success," emphasises Innovation Minister Peter Hanke.