A government program was presented by The Greens and the People’s Party on January 2, 2020. Thereafter, the agreement can be downloaded as a PDF from the Greens website. This government program is for the start-ups in Austria. The word “start-up” was mentioned 19 times in this program of the ÖVP and the Greens. In particular, the subsequent government measures are designed for start-ups in Austria:
There is a need for flexible civil and corporation laws especially concerning family businesses and start-ups while taking into consideration- the investor protection and creditors.
It necessitated cultural heritage. The interdisciplinary cooperation between the cultural, tech scene and start-ups as well as universities and research institutions should be strengthened to sustainably develop our cultural heritage of tomorrow.
To fight against climate change, the active contribution of start-ups and SMEs are required to accelerate those innovations that allow us to live and function in a carbon-neutral manner. It holds up “Green Supporting Factor” at the European level. Such a “green supporting factor” would make it easier to grant “green loans” and thus make a valuable contribution to achieving our European climate targets.
It needs an implementation of the regulatory sandbox. Those financial start-ups are given concessions and are required a license to work out their business model in close cooperation with the FMA. This will control and prevent red-tapism in the capital market area.
This program is promoting entrepreneurship to gain skillful entrepreneurs. It needs building the concept of entrepreneurial thinking in the educational sector. This government program also establishes a second chance culture more stoutly, mainly for founders of pioneering start-ups and SMEs to prevent abuse.
This program also creates a new form of the company by building it on an international level. For example, a new form of company is to be created, which provides an internationally competitive alternative, particularly for ground-breaking startups and founders in their initial stages.
It initiates adaptable and compliant allocation of shares to prospective investors and employees with minimal digital authorities. It is adapted to Austrian standards to advocate transparency of all shareholders. It supports the creation of a uniform up-to-date form of the corporation for inventive start-ups and SMEs. These will be implemented across the European level to facilitate innovation through risk capital.
According to EU laws, institutional investors like pension funds and insurance companies should be permissible to put in long-term, modern forms of investment counting ecological and social influence. For example, seed financing for start-ups and SMEs.