Forbes Magazine features the Austrian Startup Scene

Forbes is one of the top magazines on business related topics. It published an interesting article called “Scaling Alpine Heights: Austria’s Startup Scene“on the Austrian Startup Scene. The following statement attracted my attention:

“The country is enjoying something of an entrepreneurial renaissance, driven largely by the return of some highly successful founders whose presence has awoken its capital Vienna from a start-up winter sleep.” [by Forbes]

The Austrian startups that made it to the article are the following ones (details on the startups can be found in the article and on their corresponding website):

Although Austria offers quite some support for starting a business (e.g. by granting loans, issuing bank guarantees and R&D grants, availability of cloud services such as AWS and Google App Engine) it is still not as startup friendly as it should be. High labour costs, high payroll-taxes and high health insurance costs not to forget the lack of real tax incentives for startups and startup investors to give some examples.

Florian Dorfbauer, CEO and co-founder of Austrian website feedback startup Usersnap states:

“I expect that Vienna will be the number one start-up hub of Central and Eastern Europe (CEE) – other CEE capitals like Budapest or Bratislava are within a few hours’ travel time – and I expect the dogma ‘Move to Silicon Valley or Die’ to shift towards ‘move some people to Silicon Valley and keep the core-team in Austria’, as there is little reason to expose an early- to mid stage start-up to Silicon Valley cost structures.

“And of course I expect a string of successes from my fellow start-up colleagues, so yes, I am feeling very optimistic about Vienna.”

If this is the future of Austrian Startup Scene then I’m looking forward to it. What do you think about the Austrian Startup Scene? Leave me a comment or drop me a note on @hmuehlburger.

(via forbes.com)

 

Eight elementary Skills every Entrepreneur should have

Do you think about starting your own company? Then you should think carefully about the elementary skills you need to do so. What are the eight elementary skills every entrepreneur needs? Thomas H. Byers et. al. compiled the following list in his book on “Technology Ventures – From Idea to Enterprise”:

  • Entrepreneurs initiate and operate a purposeful enterprise.
  • Entrepreneurs operate within the context and industrial environment at the time of initiation.
  • Entrepreneurs identify and screen timely opportunities.
  • Entrepreneurs accumulate and manage knowledge and technology.
  • Entrepreneurs mobilize resources (financial, physical, and human).
  • Entrepreneurs assess and mitigate uncertainty and risk associated within the initiation of the enterprise.
  • Entrepreneurs provide an innovative contribution or at least a contribution that encompasses novelty or originality.
  • Entrepreneurs enable and encourage a collaborative team of people who have the capabilities and knowledge necessary for success.

I encourage everyone to have a look at this great textbook. It contains a lot of useful information on starting your own enterprise.

(via Technology Ventures – From Idea to Enterprise by Thomas Byers, Richard Dorf, and Andrew Nelson)