Austria Wirtschaftsservice Gesellschaft

Management

Bernhard Sagmeister Edeltraud Stiftinger

The Austrian Economic Service mbH (aws ) is the funding and financing Bank of the Republic of Austria.

Similarly, the German Development Bank KfW is the object of the aws in the execution of business-related economic development agencies of the federal government. The Austrian Economic Service is owned by the Republic of Austria, owner's representative are the Federal Ministry of Economy, Family and Youth and the Federal Ministry for Transport, Innovation and Technology.

AWS was founded in 2002 and annually awards approximately one billion euros in financial support to the Austrian economy. Among the instruments of aws as subsidies, EU grants, the assumption of liabilities (guarantees ) at home and abroad, subsidized ERP Fund loans as well as consulting and services.

History

In 1954, the promotion BÜRGES Bank was founded as a specialist bank for the promotion of small and medium-sized companies.

In 1962, the ERP Fund was established from the funds of the U.S. Marshall Plan aid. On the basis of the Agreement of July 2, 1948 Austria received the aid of the Marshall Plan paid, and could sell them to domestic prices. The proceeds were paid into a counterpart account. This account has been passed on July 12, 1962 in the disposal of the Austrian Empire and the ERP fund founded. The total assets of around 3 billion euros, will be awarded from the low-interest loans since 1962 for business development and innovation.

In 1969 the establishment of the financing guarantee mbH as a State-owned financial institution to hedge economic risks associated with project financing.

The 1984 created innovation agency devoted himself to the support of economically exploitable ideas in high technology, research and development.

The law establishing the Austrian Economic Service mbH, the Republic of Austria has resolved to carry the conveyors above together to provide the funding applicant / inside a contemporary and complete service.

This bundles the aws all business-related economic development agencies of the Federation and is a one-stop - shop able to support companies of the founding efficiently to IPO. To ensure the aws their contribution to securing the business location Austria.

On the occasion of the economic crisis, beginning in 2007, the AWS was looking at a full banking license in order to help SME businesses, which suffered particularly from the credit crunch with loans. The end of 2009 the request went aws back again, as they no longer found it helpful.

Tasks

With the help of grants, loans, guarantees and advisory services to the Austrian Economic Service focuses on three core functions:

  • Founders Bank with funding for young companies.
  • Development bank for growing businesses particularly in regional development areas to secure the site and the competitiveness and the creation and preservation of jobs.
  • Specialist for technology exploitation and innovation, especially in the high technology fields of information and communication sciences, life sciences (Life Science Austria - LISA ), Physical Sciences and the creative industry (impulse). The programs in the field of technology and innovation are: PreSeed: Funding for Vorgründungsfinanzierungen of up to 200,000 Euros per project (Life Science, ICT (Information and Communication Technology ), Physical Sciences ).
  • Seed financing: funding to finance start-ups of up to 1,000,000 euros per project (Life Science, ICT, Physical Sciences ).
  • Impulse XS, XL impulse, impulse LEAD: support programs for the creative industry of up to 300,000 Euros per project.
  • Temporary Management ( MAZ ): use of external experts provided for a limited period you qualified know -how in areas such as finance, sales or technology.
  • Contests and Awards: Complementary to these programs, the innovation- stimulating competitions Best of Biotech and Innovative Youth are organized and awarded the Austrian State Prize for Innovation.

In the fall of 2009, the aws - SME fund was established. The Fund awards silent participations to medium-sized businesses to finance growth-oriented future projects.

International Partnerships

At the international level, aws working closely with international development and promotion banks like EBRD, European Investment Bank, the EIF, the IFC and the World Bank. She is also a member of the AECM (European Mutual Guarantee Association / Association of European guarantee banks ), the EDFIs ( European Development Finance Institutions / Association of European Business Development banks) and the NEFI ( Network of European Financial Institutions for SME / Network of European development banks ).

Types of business entity European Bank for Reconstruction and Development International Finance Corporation
91070
de