Since 2011, the Austrian startup scene has been booming and has contributed to the creation of many jobs over the years. In 2024, the startup ecosystem saw a record-breaking investment of €1.2 billion. The innovations are creative and substantial, particularly in industries such as quantum computing and sustainable tech. Many startups are performing exceptionally well, with companies such as Bitpanda and GoStudent already reaching unicorn status. There are numerous startups across a variety of fields, from healthcare to AI and education.
Why Do People Launch Startups In Austria?
One highly attractive reason why entrepreneurs choose certain countries to launch startups is the government support they might receive. Austria offers many opportunities for investment, whether through private channels or public grants. In 2023, the Austrian Research Promotion Agency allocated over €100 million in funding to early-stage startups, showcasing the wealth of opportunities available in the country.
The legal processes in Austria are relatively straightforward, meaning it is not overly complicated to establish a startup. Additionally, there are significant tax incentives available, making this an appealing prospect for new startups.
Austria actively encourages innovation, a fact evidenced by the numerous startups that have been formed as spin-offs from academic institutions. This also fosters a stronger relationship between universities, research organisations, and businesses. Beyond spin-offs, Austria is home to top-tier universities that attract substantial talent—an important factor for startups looking to recruit skilled employees.
The country is also strategically located at the heart of Europe, making expansion across the continent and into international markets such as South America or Africa far more accessible.
Moreover, Austria is a beautiful country with much to offer, making it an ideal location not only for doing business but also for settling down long term.
10 New Startups In Austria
Here are 10 promising new startups that are driving innovation in Austria:
1. Arkeon
Arkeon was established in 2021 by Gregor Tegl and Simon Rittmann in Vienna, Austria. The company promotes sustainability by using CO₂ released from industrial processes and converting it into organic food through gas fermentation and archaea microorganisms.
The company’s cutting-edge technology offers a novel method for producing amino acids for food and lifestyle products. It harnesses the unique capabilities of ancient microbes to transform carbon dioxide directly into protein ingredients, offering a sustainable way to feed people globally.
Headquartered in Tulln, Arkeon has secured €10.5 million in seed funding from investors such as Synthesis Capital and ReGen Ventures. This funding is helping them scale up operations at their pilot facility in Vienna.
2. Daiki
Daiki was founded in 2023 in Vienna by Artur Susdorf, Felix Famira, Jona Boeddinghaus, Kevin Michael Gibney, Mark Coeckelbergh, Mauritz Kop, Sandra Dernbach, and Wolfgang Gross. The startup provides a SaaS platform focused on AI governance and ISO compliance.
Daiki helps organisations launch AI projects while ensuring compliance with local and industry-specific regulations. Their mission is to enable responsible and ethical AI development and deployment.
3. JENTIS
JENTIS was founded in 2020 in Vienna by Thomas Tauchner, Christian Kletzander, and Walter Parigger, along with entrepreneurs Klaus Müller and Robert Nachbargauer. The startup offers a server-side tracking solution that empowers businesses to generate more accurate web data while remaining compliant with privacy laws.
Their innovative tools allow businesses to maintain ownership of their data and comply with GDPR by tracking at the user level without violating privacy. The company has raised €14.7 million to improve its platform, particularly in overcoming challenges such as ad blockers and cookie restrictions.
4. Shopstory
Shopstory is an AI-based marketing software startup founded in 2020 in Vienna by Robert Böhm, Roman Schweiger, and Sebastian Schwelle. They have developed a SaaS platform that enhances e-commerce performance using AI and a central data hub.
The platform integrates essential data and streamlines search engine marketing, ultimately improving ad performance and revenue while lowering marketing costs for e-commerce businesses.
5. Enspired
Enspired is an Austrian energy trading startup launched in 2020 in Vienna by Juergen Mayerhofer, Mario Schmoltzi, and Wolfgang Eichberger. The company is behind a cutting-edge trading platform designed to accelerate the energy transition.
The platform features real-time market data, advanced charting tools, and seamless order execution, equipping retail traders with the tools they need for efficient and informed decision-making.
During a Series B funding round, the company successfully raised over €33 million.
6. Fermify
Fermify, a biotechnology and food tech startup, was founded in 2021 in Vienna. Their platform focuses on domesticating microorganisms to produce alternatives to traditional cheese.
The technology addresses the challenge of large-scale milk protein production, allowing cheese manufacturers to create dairy products without involving animals.
To date, Fermify has raised €7.5 million to further develop its innovative processes.
7. DeepOpinion
Founded in 2020 in Innsbruck, Austria, by Stefan Engl and Stefan Ramershoven, DeepOpinion provides a no-code, user-friendly cognitive B2B platform that simplifies processes involving unstructured data.
The platform combines business process digitisation, low or no-code development, and agentic AI. This allows companies to automate document and text-heavy workflows—such as responding to Requests for Proposals—by leveraging advanced data extraction, reasoning, and understanding.
8. Sola Diagnostics
Sola Diagnostics is an early cancer detection and prevention startup based in Innsbruck. It was founded in 2020 by Chiara Maria Herzog, James Barrett, Martin Widschwendter, and Peter Kayatz. The company focuses on epigenetic testing for the precision prevention of women’s cancers.
Their flagship product, WID-Test-Sola, translates cutting-edge cancer prevention research into practical diagnostic tools. In 2022, the company secured €1.355 million in seed funding.
9. Inoqo
Inoqo is an AI-based startup founded in Vienna in 2020 by Bernhard Schandl, Doris Wimmer, Elisa Gramlich, Helene Saurais, Markus Linder, and Simon Haberfellner. The company has developed a SaaS platform that uses AI to evaluate the environmental impact of food and beverage products.
Their software leverages intelligent algorithms to assess climate impact, optimise ingredient sourcing, and produce detailed reports. This allows retailers to strengthen their sustainability initiatives and meet consumer demand for transparency in food production.
10. Fynk
Fynk is a contract management startup established in 2022 in Vienna by Constantin Wintoniak, Dominik Hackl, and Markus Presle. The company provides an intelligent, AI-powered platform tailored for users without legal backgrounds.
Fynk’s solution streamlines the entire contract lifecycle—from creation and editing to electronic signing and management. Their intuitive system offers clients full visibility and control over legal documentation, improving governance and operational efficiency.
