Hanke: "Key technologies and growing productivity are the most important future questions" Minister of Innovation announces key technology initiative at Tech Talks; deliberate focus creates planning and investment security
Starting today, representatives from science, research, politics, as well as companies and investors will discuss the central importance of research, technology, and innovation for the competitiveness of Austria and Europe during the "Technology Talks Austria."
Minister of Innovation and owner's representative of the Austrian Institute of Technology (AIT) Peter Hanke deliberately placed innovation and productivity, the two pivotal levers for competitiveness, at the heart of his speech.
“As the Draghi Report has already shown, increasing productivity is the key to sustainable prosperity. Yet, European productivity growth has been significantly lower than that of the USA and some Asian countries over the past decade. The main reasons for this are insufficient investments in innovations and new technologies, and a lack of consistency in the expansion of digitalisation. However, this is not destiny but a collective task that we aim to address with a new industry strategy for Austria,” stated Hanke.
Innovation as a driving force for location, focus on key technologies facilitates planning
Innovations are the most important driver for productivity in Austria, the minister added.
“Competitiveness, productivity, key technologies, and the European innovation agenda are the crucial future questions for Austria and Europe. Our country has excellent prerequisites: We are well-positioned as an industrial nation and possess technological strengths, which we must now build upon. Therefore, we are launching a targeted key technology initiative. We thereby support our industry to shape the next wave of innovation and transformation. Digitalisation, AI, and quantum technologies offer enormous opportunities—not only for technological breakthroughs but also for completely new business models. What is personally very important to me: Innovation should not be an end in itself, but should serve people—whether through better jobs, higher quality of life, or the protection of our environment,” emphasised Hanke.
The key technology initiative is a fundamental part of the Industry Strategy 2035 and is based on three pillars:
- The deliberate focus on those five key technologies that show the highest growth potential for Austria. Specifically, these are: AI, chips, production technologies (including robotics and automation), quantum (including photonics) as well as advanced materials.
- The acceleration of the transfer from research to application. The goal is to transition new ideas and technologies more quickly to market maturity. Austria has already developed successful ecosystems where science, industry, service providers, and startups work closely together for innovations. This cooperation must now succeed with new key technologies such as AI.
- Enhanced European cooperation and focus on the internal market. The key technology initiative must be conceived on a European level, with the reorganisation of European research funding and initiatives like the European Competitiveness Fund providing excellent opportunities.
“We have already brought major European projects to Austria through our joint efforts. These include the quantum chip pilot lines and the AI Factory Austria. They serve as bridges between research and industrial production. We will not rest on these laurels, as my aim is to further advance Austria as an innovation hub. The key technology initiative represents the next important step in this direction,” concluded Hanke.