Austrian Startups go down well with New York investors

From 5th to 9th September 2016, the Austrian Pitching days were held in New York and Boston for the first time. Out of 60 applicants, 11 Austrian startup teams looking for entry into the international market and second-round financing were selected to present their product and business ideas to US investors which represented health and environmental technology, software as well as on lifestyle industries on the east coast.

The startups presented their business ideas in the office space of the Samsung Accelerator. Representatives from Citi Bank, Flatiron Investors, Saratoga Equity, Rubicon Venture Capital and Brookly Bridge Ventures attended the pitch. The presentations were followed by a networking event with Austrian food and wine.

Supporting program for Austrian startups

The Austrian startups also visited the headquarters of the co-working space “WeWork”, the highest valued startup in New York with almost 10 billion USD. The program included presentations at the accelerators “Techstars” and “Entrepreneurs Round Table (ERT)”, where the young companies were able to test their pitches and get feedback from their U.S. peers. Additionally, they visited a boot camp with experts of the law firm McCarter & English, getting information on important issues including visas, financing agreements as well as property rights and ownership. The Austrians also met other European startups successful in the “Big Apple”.

From the “Big Apple” to Boston

The trip also took the startups to Boston, where they got to know other accelerators like the “Cambridge Innovation Center (CIC)” and “MassChallenge”. Talks with innovators from arguably the world’s leading technical university, the Massachusetts Institute of Technology (MIT), were the jewels in the crown of the program in Boston. Apart from the well-known Silicon Valley, New York has become a hot spot for young entrepreneurs in the last few years as the world’s leading financial center provides a dynamic market environment thanks to its numerous venture capital investors and its high purchasing power. Additionally, New York is equipped with a rich offer on incubators, accelerators, mentors and universities, thus presenting an ideal habitat for startups.

The Austrian Pitching Days are part of the campaign “go-international” by the Austrian Chamber of the Economy and were organized by the Austrian Trade Commission in New York.
Descriptions and contact details of the 11 Austrian startup teams are available at www.pitchingdays.nyc.