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As investors and founders mature, Vienna emerges as a European startup hub

According to Austrian Startup Monitor, entrepreneurs have founded more than 2,200 startups in Austria since 2008, with the number of tech companionships developing 12% per year since then, greatly faster than the 3% growth rate for traditional companies.

Home to roughly 50% of Austria’s startups, Vienna has a plethora of VC, corporate and university investors. Top VCs include 3TS Capital Collaborator, AC& Friends, Cudos Capital, FSP Ventures, Hansmen Group, i4g Investment, i5invest, LilO Ventures, next.march, primeCROWD, Speedinvest and Venionaire Capital, among others.

The local ecosystem the potential benefits of various strategies, including the Social Impact Awards, Vienna Startup Awards, Design Week, Climate KIC Stage, Innovation Incubation Center and INiTS Accelerator. The well-run Pioneers Festival lent massively to the ecosystem for several years after a certain TechCrunch editor-at-large dedicated the organiser an excuse to expand on a simple TechCrunch meetup. But the carnival was shuttered last year after its auction to a local accelerator means that the affair itself moved out of steam. Perhaps it was just as well, passed this year’s pandemic.

State support for startups is also there. The Austrian government created a extensive startup program in 2016 to acquire the country more attractive to startups setting up there.

Standout departs include fitness app producer Runtastic, acquired by Adidas for $240 million in 2015, as well as leans marketplace Shpock, which was acquired by Norwegian publishing conglomerate Schibsted in 2015. Other illustrious startups initially from Vienna include mySugr, wikifolio, kompany and Codeship. And a breakout this year was Bitpanda, a crypto resources platform, which closed a $52 million Series A fund round from Valar Ventures, a venture capital firm backed by Peter Thiel.

Crypto exchange Bitpanda closes $52 M Series A from Valar Ventures, backed by Peter Thiel

There have been jitters on the way, however. The Austrian Private Equity and Venture Capital Organization’s 2019 report found that Austria’s startups insured EUR2 37.6 million be used in 2018, but, this count fell 8.2% to EUR2 18 million in 2019; the number of lots exceeding EUR5 00,000 also dipped by 8.7%. Foreign funding likewise slackened in 2019 after a few years of a policeman ranged — between 40% and 63% of deals sized EUR0. 25 -EUR1. 99 million were significantly funded by foreign investors in 2018.

Despite the descend, neighbourhood investors have started to pick up the slack, boosting the number of funding rounds over EUR5 million to 12 transactions in 2019 from 11 in 2018. In both years, all but one of those agreements attract a substantial part of the funding round from foreign investors.

We expect more to emerge from Vienna’s tech scene in the future. The Pioneers Festival( RIP) have also shown that Vienna is a fascinating bridge between Western European capital and enterprise culture, and Eastern european industrialists and talent, which it will no doubt continue to benefit from in years to come. But — just as will happen with Lisbon this year and the loss of Web Summit — the loss of a major gathering in Vienna to glint a light on the city and ecosystem, combined with the pandemic, may have cooling accomplishes for the next couple of years.

Illustrious Vienna startups:

Newsadoo : Uses neural networks to personalize story. Cashpresso: Relations purchasers, sellers and banks to offer consumer financing options. Jobrocker: An online job search portal that are linked applicants’ CVs with errand openings. Storyblok: A headless material conduct organization. Byrd: First-mile shipping service that allows customers to ship entries hassle-free. Music Traveler : A mart that unifies rooms with musical instruments equipment systems. PAYUCA: Provides adaptable access to parking spaces in private office and residential buildings. Refurbed: Fast-growing marketplace for refurbished electronics, across the German-speaking world. Presono: A entanglement scaffold for creating, managing and showing introductions in fellowships. Blockpit: Develops software for portfolio tracking, tax computation and compliance reporting of deals for cryptocurrencies and crypto resources. Robo Wunderkind : A robot for kids to build and program. Medicus : Converts health data with their enigmatic counts and medical lingo into an easy-to-understand visual know. Cybershoes: VR accessory that allows you to walk through your favorite VR games.

Here’s who we interviewed 😛 TAGEND

Eva Arh, principal, Capital 300 Andreas Nemeth, marriage, UNIQA Ventures GmbH Laurenz Simbruner, spouse, PUSH Ventures Oliver Holle, spouse and benefactor, Speedinvest Michael Strock, marriage, Calm/ Storm Ventures Peter Lasinger, marriage, Capital 300 Christoph Kanneberger, spouse, APEX Ventures Philipp Thurn und Taxis, spouse, CNB Capital Markus Wanko, spouse, IST cube

Eva Arh, principal, Capital 300

What vogues are you most evoked about investing in, generally? B2B application, robotics , no/ low-code automation, AI-enabled horizontal answers, e-health, firms enabling others to hire and involve talent remotely.

What’s your latest, most exciting investment? Lokalise.

Are there startups that you wish you would see in the industry but don’t? What are some neglected opportunities right now? Companies that enable others to manage and automate billing so far( e.g ., per API call ), next-gen video conferencing, mixtures leader maids through menopause, solutions that help companies to offer mental health services to distributed teams, creating gloom kitchens to the next position( not flowing central kitchens ).

What are you looking for in your next asset, in general? As always, grandiose, smart-alecky, hard-working units anxious to build a category leader in a huge market.

What other types of produces/ services are you wary or worry about? Concerned about mixtures that leverage behavioral data to influence parties for the sake of optimizing profit, overload of auctions and sell tech, overload of chatbot providers.[ It is] hard to compete with actors that have benefited from huge system outcomes such as food delivery.

How much are you focused on investing in your local ecosystem versus other startup hubs( or everywhere) in general? More than 50%? Less? We focus on German-speaking areas and Central Eastern Europe. Opportunistically we would also invest outside of the region, still in Europe.

Which industries in your municipal and field seem well-positioned to thrive, or not, long term? What are companionships you are stimulated about( your portfolio or not ), which benefactors? Austria — no specific industry focus within application. Nonetheless, well-positioned in the biotech opening, CEE — having regard to the strong existence of IT outsourcing companionships, the region is well-positioned to build answers in the business-process automation, dev implement room. Storyblok( our portfolio ). Others to watch: Anyline, Adverity, Bitpanda, PlanRadar, Refurbed.

How should investors in other municipals “ve been thinking about” the overall investment climate and opportunities in your municipality? Relation Vienna — we are seeing the first contemporary of inventors constructing world-wide fellowships. Their and their unit knowledge will be at utmost value creating a new wave of tech corporations that compete on a global level.

Do you expect to see a surge in more benefactors arriving from geographies outside major municipals in the years to come, with startup centres losing parties due to the pandemic and loitering concerns, plus the pull of remote wield? Yes, we already see this — agitating companionships coming out of small cities in Poland, Germany, etc. and companies travelling remote.

Which manufacture segments that you invest in appear weaker or more exposed to potential changes in buyer and business behavior because of COVID-1 9? What are the opportunities startups may be able to tap into during these unprecedented meters? Telemedicine, online education has been accelerated. We hear a switching that otherwise would have taken times, especially in the relatively conservative German-speaking range. As just mentioned, mental health answers, hiring and employing remotely are some of the opportunities highlighted by COVID-1 9. Corporations that are heavily disclosed are those that have been serving the long tail of fellowships, small-minded sellers, and neighbourhood occupations that were closed down or known much less traffic in past months and hence are extremely sensitive around their cost base, discontinuing services that are not 110% essential.

How has COVID-1 9 affected your investment strategy? What are the biggest worries of the founders in your portfolio? What is your advice to startups in your portfolio right now? We have always been very selective and focused, partnering up three to four times a year. We continue at the same pace. The corporations that act well despite COVID-1 9 are still in a strong position for captivating external capital. Of course, we help our portfolio to secure a runway and have a discussion how/ whether the situation has impacted their give/ GTM. Some companies have to rethink their value proposition, some rethink their target groups either to make up for slower auctions rounds or on the other hand to leverage and benefit from the current situation.

Are you meeting “green shoots” considering revenue swelling, retention or other force in your portfolio as they adapt to the pandemic? Yes, we see that Lokalise is growing heavily with the current customer base as their customers expand to brand-new markets, likely to make up for slower revenue growing in their existing marketplaces. We be understood that Nethone( impostor avoidance) is able to double down on e-commerce. Online fraud and online transactions are skyrocketing as people waste much more time online.( On the other hand, their airline clients of course show a different path .)

What is a moment that has given you hope in the last month or so? This can be professional, personal or a mix of the two. It is inspiring to see how benefactors go through the current situation, act instead of reacting, especially in those countries where there is less government support incentives in place. Personally, I am also happy to see that parties use the work from residence time to rethink and interpose healthier habits.

Any other foresees you want to share with TechCrunch books? As the world has gone online and the location matters much less, there is an opportunity to distribute the made cost and wealth more evenly — be it a company founded in a “non-tech-hub” location or be it talent hired remotely.

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