Subscribe to our social channels to get the latest news about Hungary!
IT
Hungarian firms gain ground as Austria strengthens its role as an innovation hub
Change language:
Austria is increasingly positioning itself as a centre of innovation in Europe, with Hungarian companies playing a growing role in this shift. These and other insights were highlighted at the event titled “Austria as a location for innovation – opportunities for Hungarian companies.”
Organised by ADVANTAGE AUSTRIA Budapest, the foreign trade organisation of the Austrian Federal Economic Chamber, the event took place on 17 March at the headquarters of Raiffeisen Bank Hungary. Due to strong interest, it was fully booked in advance.
Opening remarks and market insights
The evening opened with a speech by Philipp Schramel, Austrian Trade Commissioner in Budapest, who underlined the rising importance of Hungarian investors for Austria’s economy. This trend is also reflected in data from the government agency ABA-Invest: in 2025, Hungary ranked second for the first time in terms of the number of completed investment projects, just behind Germany and ahead of countries such as Italy, the United States and Switzerland.
Within Central and Eastern Europe, Hungary has become the leading source country for new investment projects supported by ABA in Austria. The figures show a clear upward trend: while 12 Hungarian investment projects were recorded in 2022, this number had doubled to 24 by 2025. Recent investors include Hifly Labs, Finta Studio and Softic Solutions.
Support programmes and regional opportunities
Representatives of several national and regional agencies then presented their services for companies seeking to establish a presence in Austria. Speakers from the Austrian Business Agency, the Vienna Business Agency, ecoplus (Lower Austria) and BABEG (Carinthia) outlined available programmes, funding schemes and location advantages.
It was emphasised that these agencies support not only new business set-ups but also the acquisition of existing companies. Due to demographic changes, interest in business succession is currently particularly strong, offering potential opportunities for Hungarian entrants. Both national and regional agencies provide free advisory services in this area.
Hungarian companies share expansion experiences
Company representatives also took the stage. Speakers from Finta Studio and Hifly Labs shared their experiences of expanding into Austria, discussing their motivations and first steps in the new market.
They described Austria as a strategic gateway to the DACH region (Germany, Austria and Switzerland), while also highlighting the country’s economic stability and strong competition as motivating factors. Both firms noted that support from the Austrian Business Agency was especially valuable, particularly in navigating legal and tax matters and in building initial business connections, in some cases proving indispensable.
Further presentations introduced AI Factory Austria, which offers free consultancy on the use of artificial intelligence for businesses, as well as the Pharmapark Orth and its advantages as a business location.
Experts also outlined key tax and legal similarities and differences between Hungary and Austria, an essential consideration for companies choosing a location. The event concluded with a networking session.
Austria’s focus on industry and innovation
The event also shed light on Austria’s broader economic policy goals. Through its Industrial Strategy 2035, the country aims to strengthen its industrial base and become one of the world’s ten most competitive industrial nations in the long term.
Key elements of the strategy include:
- Investments of around EUR 2.6 billion in key technologies
- A focus on sectors such as artificial intelligence, semiconductors, robotics and biotechnology
- Measures to promote innovation, skilled labour and sustainable production
- A total of 117 measures across seven core areas
At the same time, business formation is gaining momentum. Around 40,000 new companies were registered in Austria in 2025, an increase of more than 9% compared to the previous year.
Improving conditions for businesses
Further steps are planned in the field of energy policy: from 2027, a subsidised industrial electricity price is expected to be introduced to enhance competitiveness.
Improved framework conditions, including digital company registration processes, clearer regulations and better access to financing, are also contributing to this growth. In addition, the new legal form known as “FlexCo”, an alternative to the traditional limited liability company (GmbH), is becoming increasingly popular.
Strong economic ties with Hungary
Economic relations between Austria and Hungary remain close. More than 1,300 companies in Austria have Hungarian ownership, while Austrian direct investment in Hungary amounts to several billion euros.
The event highlighted that Austria is becoming an increasingly attractive destination for Hungarian businesses seeking innovation, expansion and international connections, offering significant opportunities for entrepreneurs looking to enter the market.
Further insights into the first months of Hifly Labs and Finta Studio in Austria will be published soon in a dedicated interview.
Read this article in German: Austria as an innovation hub: Hungarian companies are increasingly coming into focus.
If you missed it: