Why is TechCrunch so popular

US medium sees Vienna as an emerging "European start-up hub"

According to the Start-up Monitor of the Austrian Institute of Technology (AIT), Austrian Startups and the start-up center of WU Vienna, there have been over 2,200 new tech companies in Austria since 2008. The number of tech companies has recently increased annually by twelve percent, which is why the blog "Techcrunch" describes the capital as an emerging "European start-up hub".

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According to the US medium, initiatives that promote the industry play a role in this, for example the start-up awards from the start-up network WeXeleterate or the - but now closed - Pioneers Festival. In addition, there are many Vencture Capitals and investors from business and research as well as government subsidies.

"Techcrunch" cites the Runtastic fitness app from Steyr's Florian Gschwandtner as an outstanding example. It was bought by Adidas in 2015 for 220 million euros. The online flea market Shpock was bought in the same year by the Norwegian media group Schibsted, whereby the company valuation was kept silent.

Setbacks in the past few years

Since then, however, there have been setbacks: In 2018, 237.6 million euros were invested, in 2019 only 218 million. Nevertheless, more is expected of Vienna's tech scene in the coming years. The city shows the fascinating combination of a "Western European city and corporate culture" with "Eastern European founders and talents". However, the end of the Pioneers Festival together with the pandemic is not a good development for the future. (red, October 14, 2020)