More than 200 UK companies recently visited Bio-Europe which took place in Vienna from 3rd to 6th November 2013.
Austria’s life sciences segment is one of the fastest growing markets within the European Union. Bio-Europe offered the chance for UK companies to take part in one of the largest partnering events in the biotechnology sector. UK Trade & Investment (UKTI) Austria organised a series of networking events for the participating UK companies to support them in building contacts with Austrian companies.
Opportunities in Austria’s biotech sector
The Austrian life science sector is highly diversified with companies ranging from SMEs to large multinationals such as Baxter.
The biopartnering event identified specific opportunities in areas such as:
The Austrian government has a strong focus on this sector and various funding opportunities are available for Austrian companies. In 2011, research and development investment was 2.79 % of GDP, above the EU average. By 2020 Austria plans to increase this to 3.76 % of GDP.
UKTI Austria’s biopartnering event
Bio-Partner led the main delegation. Another delegation from London region was led by Kit Malthouse, Deputy Mayor of London for Business and Enterprise. UKTI Austria, together with Bio-Partner and UKTI London organised various events for the 200 UK companies visiting Vienna for Bio-Europe.
90 UK companies met 60 Austrian life sciences organisations during the networking breakfast.
After the breakfast and networking session the companies discussed the Bio-industry Association Manifesto 2014-15. Additionally, selected companies had the opportunity to present their products to a number of potential investors and venture capital companies.
The week of events provided a good starting point for UK companies for further increasing their business in Austria and the Central Eastern European region.
Kit Malthouse met with a number of influential people in Austria, such as the Deputy Mayor of Vienna, Maria Vassilakou, further promoting UK capabilities in life sciences.
Comments from the participating companies indicated the breakfast was a huge success and the additional networking opportunity was described as “extremely helpful”. A number of meetings continued on the remaining days of the Bio-Europe event.
Background on Austrian life sciences sector:
Austria has over 210 life sciences companies employing approximately 11,500 people
over 90% of these companies are small and medium sized companies
around 600 companies act as suppliers to the industry for components and services meaning that in many cases the value chain is entirely Austrian
Contact Verena Wasenegger for further information on the Austrian biotechnology sector.
Contact Lin Bateson for further information on upcoming Bio-Europe conferences.