(Vienna) The Austrian Government today presented a promising package to support start-ups in coping with the corona crisis. The promotion of young companies in combination with the new government program promises to strengthen the Austrian capital market. This is essential with a post-crisis perspective. Historically, it has been shown that economies with strong capital markets recover more quickly from crises.
Christoph Boschan, CEO the Vienna Stock Exchange welcomes the government's action and repeats his motto: "Whoever says start-up, must also say stock exchange. Only with a strong capital market, young companies and entire markets can scale-up. Creating both exit and participation opportunities via the stock market is even more important than ever for the recovery process. Companies will need equity capital urgently."
The IPO of Marinomed Biotech AG in February 2019 showed how well the interaction between the growth funding provided by Austria Wirtschaftsservice (AWS) and the gradual use of the capital market works. This can serve as a blueprint for many companies.
"The government program already contains all the building blocks necessary to enable even more companies to take the funding escalator to the top and not get stuck on the first floor. Rapid regulatory modernization and a fostering financial literacy in Austria will make this path accessible to more entrepreneurs. Introducing a retention period for the Capital Gains Tax will make stock investments more attractive for the Austrian population," Boschan said.
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