Vienna. (OTS) – The effects of the Corona crisis hit the Austrian start-ups hard: In addition to delays in production and development as well as sales losses and uncertainties in many industries, the companies are facing challenges mainly due to their special type of financing. By tendering capital guarantees for one or more venture capital funds, additional risk capital is mobilized for start-ups. Like the COVID start-up aid fund, these funds are part of the COVID package for start-ups presented by the Austrian federal government.
On the basis of the guidelines of the Austrian federal government, the aws is issuing the “Covid 19 capital guarantee” for venture capital funds. This provides a total volume of EUR 50 million for innovation and technology-oriented companies with high scaling potential. The aws guarantees up to 50% of the risk capital. This is intended to mobilize additional private investments for start-ups.
With the start of the tender, interested management teams are invited to apply for a capital guarantee for their fund. The application period ends on January 21, 2021, 12:00 p.m. Particular attention is paid to a corresponding track record of the management team and a broad base of investors who ensure the professional implementation of the fund (s). The decision on the capital guarantee is made by aws together with an advisory board made up of external experts. Investment or exit decisions are only made by the selected fund management team without the involvement of aws. All details about the tender are available at https://www.aws.at/aws-kapitalgarantie-covid-19/.
Part of the start-up package
The aws capital guarantee Covid 19 for the venture capital fund, together with the COVID start-up aid fund, is a central element of the start-up package presented by the federal government. The aid has already been well received by the start-ups themselves. In total, more than 200 start-ups have been supported with the subsidy from the Covid start-up aid fund.
About Austria Wirtschaftsservice GmbH (aws)
Austria Wirtschaftsservice GmbH (aws) is the federal government’s development bank. By granting low-interest loans, guarantees, grants and equity, it supports companies from the first idea through to market success in implementing their innovative projects. Aws also provides advice and support in relation to the protection and exploitation of intellectual property. In addition, specific information, advice, service and support are offered for prospective, existing and expanding companies.
Stocks on the radar:Semperit, FACC, DO&CO, Warimpex, Agrana, Telekom Austria, Austrian post, Erste Group, AT&S, Athos real estate, Addiko Bank, Andritz, Wienerberger, Strabag, Rosenbauer, OMV, AMS, Cleen Energy, startup300, Composite, SW environmental technology, Rather S, Varta AG, HelloFresh, EVN.
Bankdirekt.at is the direct bank of Raiffeisenlandesbank Oberösterreich AG, has a wide range of securities and enables securities to be traded on 65 international stock exchanges and over-the-counter direct trading with the most important issuers. Customers can trade stocks, funds, warrants, ETFs and certificates in a matter of seconds.
>> Visit 59 other partners at boerse-social.com/partner
More current OTS news HERE