Even an excited
Austrian entrepreneur will admit that the downside of the country’s startup
scene is the difficulty of exiting. Despite the many government grants for
early-stage support, there are hardly any business angels or venture
capital firms that invest in potential highfliers after they run out of public
funds.
In Austria, business
angels are so scarce that you don’t even need all fingers of your hands to
count them. For that reason, most entrepreneurs look for funding abroad and
some even leave the country in favour of places like the US and UK.
Austrian
entrepreneurship is a mixture of reliability and thinking outside the box
instilled with a hint of fear. Failing with your business in Austria is quite
different than it is in the US and still has a detrimental effect on the
founders – it’s still a bit of a hurdle. Conversely, it might be this need to
succeed that allows our agile startup scene to produce a relatively high number
of successes. View The Full Story and 5 Austrian startups to look out for
Fund at home, go to 1000x1000.at
and submit your dream!
