AUSTRIA’S ECO INNOVATION INSPIRATION BY SABINE BITTLE

As a global leader in green technologies, Austria forges ahead with outstanding innovations in fields such as clean energy technologies, water management, waste management, and eco-efficient construction.

Even in its own right, the country is becoming a model of living green; in 2015, all electricity in Austria's largest state was produced from renewables. Clean energy, including hydroelectric power, wind energy, biomass, and solar already provided 100% of electricity for 1.65 million people back then.

Just lately, Austria was applauded as the second European country to eliminate coal power from its electricity grid, and its new government has pledged to fit 1 million roofs with solar by 2030.

Perhaps even more promising for businesses looking to step forward into the circular economy, the Austrian environmental technology industry has grown almost twice as fast as the economy as a whole in the past few years. Even during the economic crisis, this green growth had spurred job creation in the sector.

Of course Austria’s government policy is commendably ambitious, but its entire framework would prove hollow without the robust innovation of the country’s own business leaders.

And while Austrian brands might loom as giants on the global playground, on home ground most of Austria’s businesses fall into the small and medium-sized enterprise (SME) category. With 99% of companies that are SMEs, they are the backbone of the Austrian economy.

So what are they doing differently?

One could argue that it starts with a willingness to achieve, a collective alignment within the green industry to continuously develop what has been called the ‘wonderland that is Austria’. But it goes much further than that.

Austria’s companies are pioneers, universities are strong partners, and research institutions are the pulse.

The country’s green-tech industry has an above-average research intensity with comprehensive training as well as further training programmes in order to raise the level of qualifications in environmental technology.

But even more interesting is Austria’s Green Tech Valley, a global hotspot for innovative energy and environmental technologies with no less than 20 global leaders in its folds.

Home to 200 companies and research institutions, this green tech cluster holds the world’s highest concentration in bioenergy, solar energy, waste and resource management, and green buildings within the radius of an hour’s drive.

Successful clusters have often proved to be fertile ground for research and development. Silicon Valley, for example, has become a global icon, and a destination on its own.

Because so much more is possible when great minds swirl amongst other great minds in a talented resource pool – especially when there’s an established business infrastructure and a flourishing marketplace.

Where insights, skills, and technologies merge with passion and a bright vision for a sustainable future, both innovation and new businesses spark to life … bringing with them the potential to influence government policies, transform consumer behaviours, boost business, and yes, to protect our incredible planet.

There is no doubt about it. Business innovation is the key to green growth. And that key is in all our hands.