Government Strategy and Support
Dr. Severin Gruber (Ministry of Economics) reaffirmed the Austrian government's commitment to life sciences, citing continued and increased research funding, as well as plans for a dedicated life sciences strategy. He also detailed efforts to improve talent attraction, including immigration reforms and digitalization of processes, via the Austrian Business Agency’s “Work in Austria” initiative.
US Market: Gateway to Global Scale and Innovation
Sebastian Mörth (AmCham) called the U.S. the "global reference market," and noted its major role as both a trading partner and an innovation ecosystem as especially relevant for R&D-intensive companies. Nachbaur underscored the transformative impact of entering the U.S. market, including the need for high investment and adaptive marketing strategies. The panel called for more support of early-stage funding for biotech startups, especially at the Series A stage. Both public and private voices called for a more risk-tolerant culture akin to that of the U.S., where failure in venture-backed initiatives is less stigmatized and mobility and flexibility are stronger.
Public Trust, and Science Communication
Panelists advocated for clearer fact-based dialogue and open-mindedness to bridge divides caused by science skepticism. Schlautmann and Nachbaur emphasized the role of companies and institutions in engaging with the public to encourage trust in scientific advancements.
Future Outlook
The event concluded asserting Austria’s ambition to scale life sciences innovation—as barriers are lowered and collaboration continues. Panelists agreed on the importance of reducing bureaucratic hurdles, fostering public trust in science, and investing in talent attraction and retention. The discussion closed with a shared vision: to position Austria not only as a hub of pharmaceutical innovation but as a model for international cooperation in life sciences.
Read the Austrian news article in DerStandard here.