New momentum for 2020: €75 million and fresh focus projects

The City of Vienna and the Vienna Business Agency have launched a large-scale economic push they hope will provide new impetus for 2020.  As part of the VIENNA 2030 business strategy, the Vienna Business Agency will implement three focus projects on the topics of digitalisation, neighbourhood revival and food. In addition, the Vienna Business Agency has adopted a new brand presence in response to the rapidly changing technological environment and business landscape and in the hope of attracting even more international companies to Vienna.

“We’re starting the new year with a great deal of motivation and positive momentum for the future and stand ready to counter the forecast economic downturn with meaningful action. We hope that, through our focus projects, we can provide focused momentum to stimulate the Viennese economy and will be making €75 million available this year through the Vienna Business Agency,” explained Peter Hanke, Executive City Councillor of Business and Digital Affairs. “In doing so, we will use Viennese citizens’ taxes carefully and efficiently. We know that every euro of funding invested in the companies we support is more than quintupled,” said Hanke.

Vienna at a glance

• Food: Providing good food for the people of Vienna – that’s the aim. Achieving this will require urban food production, supplied in environmentally friendly production chains and using sustainable packaging. Businesses are encouraged to develop innovative ideas and break new ground. As part of the new project focusing on food, €7 million is available to support such endeavours.
• Digitalisation: To dispel the fear of digitalisation, especially in small businesses, and to strengthen Viennese technology companies, total funding of €2 million is available. An ongoing funding competition, Future ICT 2020, is aimed at projects relating to artificial intelligence and cybersecurity. Individual projects can each receive up to €500,000 of funding.
• Neighbourhood revival: Another of the city’s objectives is to avoid buildings standing empty and guarantee high-quality local amenities for the people of Vienna. As part of the focus on neighbourhood revival, €15,000 of funding is available.

Vienna, January 8, 2020