Czech Startup Day 2024 – Cross-border collaboration as fuel for innovation

In today’s interconnected world, cross-border collaborations have become essential to driving innovation, economic growth, and technological advancements.

The recent Czech Startup Day 2024, hosted by the Czech Embassy in Vienna in cooperation with CzechTrade, CzechInvest, and EIT Manufacturing, is a prime example of how partnerships between neighbouring countries can open doors to new opportunities. This event, now in its third edition, has grown to become a key platform for connecting Czech startups with Austrian investors and ecosystem players, offering invaluable insights and access to resources for scaling across borders.

Showcasing Czech innovation in Austria

Czech startups are increasingly looking to expand into Austria, a vibrant hub for startups and innovation. Austria, as the fourth-largest investor in the Czech Republic, plays a crucial role in fostering entrepreneurial growth in Central Europe and is an ideal destination for geographical expansion.

This year’s Czech Startup Day featured 13 Czech startups pitching their innovative solutions to a jury of experts and an audience filled with Austrian investors, business angels, and ecosystem leaders. The competitive pitching session allowed startups from various sectors—including cybersecurity, health tech, mobility, and automation—to showcase their products and ideas. These startups demonstrated the breadth of innovation coming out of Czechia, with many offering solutions aligned with sustainability, industrial production, and digital transformation, allareas of high relevance to the Austrian market.

BatteryCheck takes the top prize

At the heart of the event was the competitive pitching session, where a panel of judges evaluated the 13 startups. BatteryCheck s.r.o. took home the top prize for their battery monitoring technology, which impressed the jury with its innovative approach and practical application. The second-place winner, Redamp Security s.r.o., showcased cutting-edge cybersecurity solutions, while Aireen a.s. secured third place with their non-invasive screening technology for chronic diseases.

The high quality of the startups and their presentations did not go unnoticed. Jury members and investors alike praised the quality, diversity and innovation of the solutions presented.

Taking advantage of local offerings to succeed in Austria

In addition to the pitching session, the event featured two engaging panel discussions, moderated by EIT Manufacturing, which provided valuable insights for both Czech entrepreneurs and Austrian investors. Topics ranged from market entry strategies to understanding the specificities of the Austrian investment landscape, offering a practical guide for Czech startups looking to succeed abroad.

A key takeaway from these discussions was the importance of preparing well for entry into the Austrian market, a point emphasized by both investors and ecosystem leaders. From adapting marketing strategies to understanding local consumer preferences, the panels highlighted that successful expansion requires more than just a great product; it demands a deep understanding of the target market and its unique dynamics. Local ecosystem players such as the Vienna Business Agency and EIT Manufacturing have tailored offerings for foreign startups trying to expand to Austria.

For Austrian investors, the discussions highlighted why investing in Czech startups is a smart move. With Czechia’s strong industrial base, thriving startup ecosystem, and reputation for innovative tech solutions, Czech startups offer promising returns on investment.

A collaboration with lasting impact

The success of Czech Startup Day 2024 is a testament to the power of collaboration. With the support of key partners like the Czech Embassy in Vienna, CzechTrade, CzechInvest, and EIT Manufacturing, the event fostered meaningful connections between Czech entrepreneurs and Austrian investors, creating a platform for future partnerships.

Cross-border events like these are crucial for the industrial sector, where collaboration between different markets can lead to greater innovation, faster technological advancements, and more sustainable business practices. By working together across borders, both countries benefit from the exchange of ideas, access to new markets, and increased investment opportunities.