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Research: Austria’s Future Fund distributes 140 million euros

Research: Austria’s Future Fund distributes 140 million euros

The Ministry of Science and Economy announced in a statement that the National Foundation for Research, Technology and Development decided this on Wednesday.

The basis for the allocation of funds was the research policy priorities of the Federal Government and the recommendations of the Research, Science, Innovation and Technology Development Council (Forwit). At the same time, he called for the continuation of the financing instrument that expires in 2025, and an increase in financing in the period from 2026 to 2030 to 200 million euros annually. Support in this regard also comes from the Industrial Association.

“It is essential to ensure the future of the Fund,” said Board President Thomas Henzinger. An annual budget of €140 million was originally set for the years 2022 to 2025. The Fund should also be readjusted and sustainably adjusted by outsourcing proven program lines and increasing core funding to affected funding organizations accordingly. According to FORWIT, a total of 23 orders with a volume of 201 million were placed this year – an increase of 11 percent compared to the previous year.

“New drivers” for startups and spin-offs

Martin Polaszek, Minister of Science under the Austrian Vice President, said that the funds provided by the Austria Future Fund will ensure internationally competitive conditions for high-level research in Austria. It is particularly pleasing that another clinical research group at the Ludwig Boltzmann Association can be funded for eight million euros. A total of €11.5 million will be made available for Austrian participation in Europe-wide programmes, such as EU Delegations or EU Partnerships.

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Economy Minister Martin Kocher (ÖVP) noted the importance of the Fund for the Future of Austria as a complementary financing instrument for research. Among other things, this would finance projects for the industrial implementation and economic exploitation of quantum technologies. New incentives for start-ups and spin-offs are also planned, and there will also be further measures to promote women and equal opportunities in the research and innovation sector.

This year, according to the National Foundation, €48.5 million will be allocated to the research funding agency FFG, €42.5 million to the FWF Science Fund, €8.5 million to the Austrian Academy of Sciences (ÖAW), and €8 million to Ludwig Boltzmann. Association (LBG), €15 million to the Christian Doppler Research Society (CDG) and €17.5 million to Wirtschaftsservice Gesellschaft mbH (aws).