Austria’s Life Sciences Sector in Numbers
Austria is home to approximately 1,000 life sciences companies, with 40% operating in the pharmaceutical sector and 60% in medical technology. Together, these companies employ around 60,000 people and generated over €25 billion in revenue in 2020, contributing 7% to Austria’s GDP. The life sciences sector continues to experience strong growth, with annual industry revenue growing by more than 10% per year. As Austria's most innovation-intensive sector, life sciences achieve an R&D intensity of 20.5%, highlighting the country's strong dedication to research and technological progress.
In addition, 55 research institutions with a total workforce of around 25,000 people focus exclusively on life sciences and approximately 77,000 students pursue an education in this field. This strong academic foundation is the basis for innovation and strengthens Austria’s position as a leading hub.
Government Support
The Austrian government plays a central role in fostering life sciences and strengthening R&D capabilities across the country, through both direct and indirect funding. According to the most recent estimates, total R&D expenditure in Austria will amount to €16.64 billion in 2024, with the Federal Government contributing €4.62 billion, which corresponds to 27.76%.
For research or experimental developmental expenditures, companies can claim a research premium comprising 14% of the costs. With respect to contract research, the research premium can be claimed for expenditures of up to EUR 1 million per financial year. In 2024 the research premium will account for 6.01% of total R&D funding.
Over the past decades, Austria has emerged as a significant center for life sciences in Europe, driven by a strong ecosystem of research institutions, innovative biotech startups, and leading pharmaceutical companies.
Life Sciences in Austria
A Closer Look
The following map of the Life Science Sector in Austria illustrates the regional distribution of life science companies, employees, turnover, and research institutions across the federal states. While Vienna is the core of the industry, the map shows that life sciences are well-established across multiple federal states, ensuring a balanced innovation landscape throughout Austria.Across various federal states, leading clusters promote collaboration between the different actors in the Life Science Sector. These include amongst others:
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LISAvienna: Serving as the leading cluster platform for life sciences in Vienna, comprising 600 organizations.
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Human.technology Styria: A cluster of around 150 Styrian companies that work for human health.
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Vienna Biocenter: A leading research center in Europe active in all areas of the life sciences, comprising six research institutions and 39 biotech companies with staff coming from more than 80 countries.
Central points of contact include:
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Austrian Research Promotion Agency (FFG): The national funding agency for industrial research and development.
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Austrian Science Fund (FWF): Austria's central funding organization for basic research, which is currently funding a total of 4,890 researchers in ongoing projects at universities and other research institutions.
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Austria Wirtschaftsservice (aws): The promotional bank of the Austrian federal government. It supports companies in implementing their innovative projects by offering soft loans, grants, and guarantees, particularly in cases where the funds required cannot be obtained sufficiently through alternative funding.
About GoUSA | Boston
At GoUSA Boston, Austrian startups profit immensely from the honest and constructive feedback they receive from partners, mentors and corporate development managers of top-tier Health and Life Science companies, who know the ins and outs of the market. Contacts that would require months or years to cultivate from Austria happen within weeks.
Now in its 14th year, the venture has already graduated over 180 companies, a fifth of which established a subsidiary in the U.S. as a result of their participation in the program. Even though every company has different goals and achievements, numerous strategic partnerships were formed and successful acquisitions took place.
What’s in it for you?
Participants in our GoUSA Boston program are carefully selected together with our team of judges. These chosen entrepreneurs have founded companies that we believe have what it takes to succeed: They’re working to expand into the US market, raise funding here, go public or make a strategic exit. All they need is that last push.
This is where our GoUSA Boston program shines. We put our high-value Boston ecosystem to work to connect participants to our network of mentors: experienced founders, investors, and experts in their field, oftentimes of Austrian descent, who want to dedicate time to helping Austrian entrepreneurs reach their goals.
In addition to a two-week long bootcamp in a group setting, you will be paired with your own dedicated mentor. Your mentor will guide you and keep track of your progress week over week, lend their support, network, and insights. They will also hold you accountable and on track for your goals to ensure that you get the most value out of the program.
Whether you’re looking for funding or just exploring growth opportunities in the US, our GoUSA Boston team will be here to support you every step of the way.
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Our Partners
Collaboration is at the core of what we do. We engage with U.S. and Austrian stakeholders - including policymakers, industry leaders, universities, and think tanks - to foster exchange, facilitate connections, and strengthen transatlantic cooperation.
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Latest News & Events
Stay updated on our activities in Boston and beyond. From webinars to panel discussions and networking events, we create opportunities for Austrian stakeholders to engage with policymakers, industry experts,
and researchers in the U.S. Life Sciences and tech ecosystem
Mar 01, 2025, 7:00 PM – 11:00 PMSan Francisco, Lombard St, San Francisco, CA, USAThis event promises a dynamic blend of learning, collaboration, and networking opportunities. Attendees will have the chance to hear from an esteemed keynote speaker, whose insights and expertise will set the stage for thought-provoking conversations. The panel discussions will feature a diverse gro
Get to know the people behind OPEN AUSTRIA East Coast. Our team brings together expertise in economic policy, digital affairs, innovation, and tech diplomacy, working to connect Austria and the U.S. in meaningful ways.
Georg Lack
CO-DIRECTOR
Georg Lack serves as the Head of Economic, Trade and Technology Affairs at the Austrian Embassy in Washington, D.C. Prior to this role, he led the Central Europe Unit at the Austrian Ministry for European and International Affairs. His diplomatic career has taken him to postings in Budapest, Berlin and Zagreb. He holds a Law Degree from the University of Vienna and a Master’s degree from the London School of Economics (LSE).
Victoria Liedl gathered working experience at major Austrian and international banks before coming to New York in 2019 to work at a startup in the field of multilingual meetings. Victoria is part of the Advantage Austria New York/the Austrian Trade Commission team since August 2021 and covers the following industries: startups, fintech, and innovation. Effective February 2024, Victoria will assume the role of Co-Director of the OPEN AUSTRIA East Coast office in Boston.
She also holds a Bachelor’s degree in Management & Entrepreneurship from the University of Applied Sciences for Management & Communication in Vienna and a Master’s degree in International Relations from Queen Mary University in London.
Victoria Liedl
CO-DIRECTOR
Office Information
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