Austria's startups showed remarkable resilience in a challenging environment in 2023. Despite a significantly worse business situation and a difficult financing environment, the startup sector has 30,000 employees for the first time and is becoming increasingly profitable.
More than 4 out of 10 startups in Austria have now broken even - an increase of 24% compared to the previous year. At the same time, the average number of employees has risen from 11.7 to 12.3. Startups are also planning to hire well over 10,000 new employees in the coming year. "The fact that Austria's startups have become significantly more profitable in the past year and at the same time recorded an increase in employment underlines their resilience and important role as a growth driver," says study director Karl-Heinz Leitner from the AIT Centre for Innovation Systems & Policy.
More than half of start-ups now prioritise social or ecological purposes - this proportion has risen continuously over the last few years and shows the social relevance of start-ups beyond economic indicators. The proportion of startups founded as part of an academic programme has also risen sharply in the last 10 years - i.e. student spin-offs, which now account for almost 16%.
More information on the Startup Monitor and download the study