Up to 100,000 EUR for innovative business ideas.
Good news for tech startups in Vienna: the incubator INiTS from now on promotes innovative business ideas with up to EUR 100,000, three times more than previously. This is to support the success of innovative technology projects with exceptional growth potential even more strongly and sustainably than in the past.
It is made possible via a new investment model: Startups who successfully complete financing rounds will return some of the startup capital to INiTS, thus helping to fund new future projects. In total, the city of Vienna will be supporting INiTS in the current funding period until 2022 with around EUR 2.7 million. The federal government is contributing EUR 3.2 million. Meanwhile, all Vienna universities and technical colleges are participating as partners in the program.
INiTS has supported university-educated entrepreneurs in the development, launch, and growth of their technology companies for around 15 years. Thus far, 207 startups have been supported by INiTS in Vienna, who have attracted EUR 281 million in private capital, created more than 1,300 jobs, and invested EUR 240 million. INiTS was ranked 7th worldwide by the UBI Global Research Initiative,thus leaving even top universities behind.
Vienna, October 2, 2017