The Austria Wirtschaftsservice Gesellschaft (aws) is an Austrian federal development and financing bank for the promotion and financing of companies. The bank provides around €1 billion (2008) in development aid, mainly as grants, loans and guarantees to finance projects in the value of almost €11 billion (2008).
aws is focused on four different areas: Technology and innovation, equity and capital markets, promotion and financing as well as services for research and development management.
In addition to these core activities it also administers the Austrian federal economic stimulus package of around €1 billion in 2009 and 2010.
According to the
OECD, 2021 official development assistance from Austria increased by 8.7% to US$1.5 billion, representing 0.31% of
gross national income.
History
The origins of this bank go back to four different public entities that merged in 2002 into aws: The ''BÜRGES Förderungsbank'' was founded in 1954 as a special bank for the support of small and mid-sized companies. In 1962, the ''ERP-Fonds (European Recovery Program)'' was set up based on the funds of the
Marshall Plan to provide credit for economic development and innovation support. In 1969 the ''Finanzierungsgarantie Gesellschaft mbH'' was created in order to reduce the risk for project financing. The fourth organization, the ''Innovationsagentur'', was founded in 1984 to support technology transfer.
Programs and services
Austria Wirtschaftservice supports companies in Austria with grants, loans, guarantees and consulting services in the following areas:
*Promotion schemes for start-up companies.
*Support programs for the growth of established companies, with focus on regional growth, strengthening of competitiveness and job creation.
*Special financing schemes for innovation and technology commercialization, particularly in the
deep technology fields IT and communication, green technology, life sciences (
Life Science Austria
Life is a quality that distinguishes matter that has biological processes, such as signaling and self-sustaining processes, from that which does not, and is defined by the capacity for growth, reaction to stimuli, metabolism, energy transf ...
- LISA) and physical sciences, as well as the creative industries (impulse):
**PreSeed: Financing of preseed projects of up to €200,000 per project (Life Science, IT, Physical Sciences).
**Seedfinancing: Financing of innovative start-ups of up to €800,000 per project (Life Science, IKT, Physical Sciences).
**impulse XS, impulse XL, impulse LEAD: Financing schemes for start-ups in the creative industries of up to €300,000 per project.
**Management auf Zeit (MAZ): Financing of external experts that temporarily provide start-ups with their know-how in finance, marketing or technology.
**Competitions and awards: Complementary to these financing schemes, innovation stimulating competitions such as "Jugend Innovativ" and the international life science business plan competition
Best of Biotech are organized.
International cooperation
The aws cooperates closely with international financing institutions such as
EBRD,
European Investment Bank
The European Investment Bank (EIB) is the European Union's investment bank and is owned by the EU Member States. It is one of the largest supranational lenders in the world. The EIB finances and invests both through equity and debt solutions ...
,
European Investment Fund
The European Investment Fund (EIF), established in 1994, is a financial institution for the provision of finance to SMEs (small and medium-sized enterprises), headquartered in Luxembourg. It is part of the European Investment Bank Group.
It ...
,
IFC and
World Bank. It is member of AECM (European Mutual Guarantee Association), EDFI (European Development Finance Institutions) and NEFI (Network of European Financial Institutions for SME).
See also
*
List of development aid agencies
This is a list of development aid agencies which provide regional and international development aid or assistance, divided between national (mainly OECD countries) and international organizations. Agencies of numerous development cooperation part ...
Sources
External links
aws HomepagePreSeed FundingSeed FundingBest of BiotechLife Science Austria (LISA)impulse
{{Authority control
Banks of Austria
Banks established in 1954
Austrian companies established in 1954
Companies based in Vienna