Austria’s life science industry as well as its research institutions have established a fast growing sector. The latest Life Science Report Austria shows the sustained attractiveness of Austria as a life science location based on the close links between solid academic research and innovative companies as well as the broad offering of tailor-made financial aids.

The development of the sector between 2012 and 2014 is remarkable: compared to the last report, the number of companies active in biotechnology, pharma or in the medical device business has increased by 13.8%. Together, life science companies generated a total turnover of over €19.1 billion (+7.8% compared to 2012).

In 2014, a total of 55 institutions were active in the field of academic life science research and education in Austria. About 20,000 people were working in universities, universities of applied sciences and non-university research institutes. In 2014, Austria’s life science budget amounted to €1.44 billion. About 73% of the budget stems from institutional funding, whereas 27% represent third-party funds.