Fostering U.S.-Austrian Innovation Synergies

From April 14 to April 17, 2019, Austrian Federal Minister of Digital and Economic Affairs Margarete Schramböck together with her delegation traveled to New York City to engage in bilateral meetings with technology companies and promote investments in Austrian businesses.

During the four-day trip Minister Schramböck was scheduled to meet with companies such as LO3 Energy, which is revolutionizing the handling of energy, Nokia Bell Labs, an industrial research and scientific development company owned by Finnish company Nokia, and WeWork, a global provider for shared workspaces.

At the meeting with WeWork, Minister Margarete Schramböck together with the Austria Wirtschaftsservice, which is providing federal promotional services to foster innovation in Austria, signed a Memorandum of Understanding with the New York company. The memorandum is aimed at supporting Austrian start-ups to break into the U.S. market by offering free office spaces to ten Austrian companies for up to two months.

from left: Dimitri Kouvaros (WeWork), Bernhard Sagmeister (CEO Austria Wirtschaftsservice), Minister Margarete Schramböck, Matthew Powers (Head of WeWork New York), Kofi Ampadu (WeWork) (c) Federal Ministry for Digital and Economic Affairs / Hartberger

from left: Dimitri Kouvaros (WeWork), Bernhard Sagmeister (CEO Austria Wirtschaftsservice), Minister Margarete Schramböck, Matthew Powers (Head of WeWork New York), Kofi Ampadu (WeWork) (c) Federal Ministry for Digital and Economic Affairs / Hartberger

In addition, Federal Minister Schramböck participated in the conference “Austria – The Sound of Finance” which sought to connect Austrian businesses with U.S. investors.