Business innovation and Industry 4.0 in Austria

This chapter outlines the main business actors in innovation and their performance, and discusses the main innovation challenges facing the Austrian business sector today. It analyses public support for business innovation and entrepreneurship as well as the innovation capacity of the Austrian business sector. It discusses improving early stage equity financing and investment readiness as well as supporting management and leadership development. The chapter continues to illustrate the current policy mix to support business R&ampD and describes possible avenues to better respond to future needs in this area. The chapter further discusses Industry 4.0 by providing an overview of key areas that enable harnessing the benefits of respective technologies, including cloud computing, the supply and use of data, 5G networks and Austria’s readiness for technology diffusion.