When the federal government invests in basic research, the stimulating effects for the economy and society work faster and are more extensive than previously assumed: This is the key message of a study published in November 2024 by the Austrian Institute of Economic Research (WIFO), the Institute for Advanced Studies (IHS), and Joanneum Research. “Funding the FWF generates a double dividend. It provides short-term stimulus for the economy while also laying the foundations for a long-term acceleration in structural growth,” said WIFO Director Gabriel Felbermayr at the joint press conference with the authors of the study.
One thing is clear: Every euro invested in research is returned several times over. Although that’s not a declared goal of FWF-funded research, investments in research pay off faster and have a wider impact than initially anticipated. Researchers at universities and non-university research institutions make cutting-edge innovations possible, for example through high-quality patents, product improvements, and start-ups – similar effects have also been documented for other basic research funding agencies such as the European Research Council (ERC). Not only that, the pool of highly qualified researchers who not only work in science itself, but also contribute their expertise to the economy and society, is growing. Based on numerous examples of successful projects, the study impressively illustrates how findings from basic research find their way into society. These include spin-offs such as ParityQC from quantum research, Proxygen from biomedical research, and the archaeology park surrounding the excavations in Elea-Velia, Italy, which is now a major tourist attraction. Find out more about the results of the impact study here.
In 2024, the FWF successfully launched additional Clusters of Excellence and the first Emerging Fields projects as part of the excellent=austria initiative. So far, a total of nine Clusters of Excellence and five Emerging Fields, involving hundreds of people throughout the country, have been established and will be providing an innovation boost for basic research in Austria. The FWF and the participating research institutions have earmarked an investment volume of almost €260 million for the Clusters of Excellence for the first five years (from 2023/2024) of the planned ten-year term. The first five Emerging Fields consortia will receive a total of €31 million in funding over the next five years (starting in 2024).
With the FWF ASTRA Awards launched last year, the FWF is setting new standards in career funding. The ASTRA Awards were created to help advanced postdocs in Austria make the leap to the top of their research field. The aim is to attract particularly talented researchers in international competition and retain them at Austria’s research institutions.
The FWF is also completing the reform of its funding portfolio with the merger of the two programs Research Groups and Special Research Areas. Starting in the summer of 2025, the new Specialized Research Groups funding program will be offering large-scale research networks more flexible opportunities than before.
A look at the funding statistics for 2024 shows a further increase in funding volume to almost €410 million – a positive development for Austria as a research and innovation location. We would like to thank everyone who has made this growth possible: political decision-makers, thousands of reviewers, committee and jury members, and the entire FWF team – and not least all the researchers who prove their scientific excellence in international competition. Their diverse insights are what we need to face the social challenges of our time. As the FWF Executive Board, we will continue to ork together with the entire FWF staff to create attractive conditions for excellent top-level research in Austria.
The Executive Board of the Austrian Science Fund (FWF)