SCARLETRED at Round-Table Discussion of Börse Express about Life Science Industry in Austria
In the round table discussion of the leading financial domain Börse Express, Marinomed, Scarletred, PHH Rechtsanwälte, and EOSS Industries discussed the development and hurdles of Austrian life science start-ups.
Vienna - In July 2021, the finance and stock market domain Börse Express held a round table discussion on the founding and development of companies in the life science sector. Participants were Andreas Grassauer (CEO Marinomed), Harald Schnidar (CEO Scarletred), Stefanie Werinos-Sydow (partner at PHH Rechtsanwälte), and Thomas Erkinger (CEO EOSS Industries Holding; pictured from left to right; source: PHH/Marlene Grabner). The main points of discussion included capital, legal foundations, and the slow progress of digitalization as limiting factors for the growth of Austrian life science companies despite good funding opportunities regarding founding start-ups and R&D.
In Austria, investments for long-term growth and venture capital are difficult to receive, compared to the USA: "If you experience the US Think Big approach and then return to Austria, you quickly come back to reality", said Harald Schnidar. There is still a lot to catch up regarding digitalization compared to the Nordic countries, for example. The European Medical Device Act and the General Data Protection Regulation initially posed an obstacle for the eHealth company, but now present advantages, especially for American customers who value the data guidelines. Despite these hurdles, Schnidar had the most successful crowdfunding campaign for Austrian eHealth companies via Green Rocket in 2018 with the AI-assisted software Scarletred®Vision.
Read the complete interview in the weekly magazine of Börse Express.