This includes start-ups which can receive between 50,000 and 200,000 euros of capital from the fund. Companies which have already successfully implemented their first projects and are now in the expansion phase can be allocated between 100,000 and max. 1.5 million euros. At least one third of the capital required must be provided by private investors in order for the funds to be released. Payment is then made in stages by the BABEG. The investment amounts are based on what stage the company is in – ‘Early Stage’ (set-up, development of prototype and marketing concept), ‘Development’ (start of production, market launch, growth financing) and ‘Growth’ (new markets, products and production processes, R&D, mergers & acquisitions).

The Chairman of the Investment Committee is Werner Wutscher, founder and CEO of New Venture Scouting, Executive Board member at Austrian Angel Investors Association and member of the Investment Committee at asw Mittelstandsfonds. The investments are made exclusively with independent and private co-investors who can offer strategic synergies and expertise along with capital. Comparing the various Austrian states, the number of venture capital investments made in Carinthian companies currently lies below the 1% mark. The BABEG Venture Fonds will trigger a catch-up process in Carinthia.

Tremitas GmbH has developed a TremiPen® for treating patients with a tremor (uncontrolled shaking of various parts of the body). This was the first investment made by the BABEG Venture Fonds. This product gave Tremitas a technological lead and the company became a ‘first mover’ in this field. Tremitas was able to generate 362,500 EUR of venture capital for its upcoming market launch (sale of the product is planned for the first half of 2018) and 70% (!) of this came from private investors. The project was developed as part of a Bachelor’s thesis at the Carinthia University of Applied Sciences. An additional six projects have also been submitted and are being assessed.