Vienna, December 2, 2023 – During their visit to the leading Viennese high-tech company TTTech, Federal Chancellor Karl Nehammer and Vice-Chancellor Werner Kogler were able to see the important contribution that digital technologies make to the transformation and competitiveness of Austria's economy.
A new generation of technical solutions is needed for the transformation process towards a CO2-neutral market economy. Automation and connectivity, especially in industry and the energy sector, will significantly support the achievement of climate targets. This offers a great opportunity for innovative companies. The mammoth task of transformation is creating a new demand cycle that can have a positive impact on our economic growth and Austria as a business location. The cutting-edge technology required for this is developed at renowned Austrian universities and research institutions – an enormous competitive advantage. However, in order to be able to make the best possible use of this, these technologies and solutions should first be commercialized in Austria and Europe.
"TTTech, our high-tech company founded in Vienna, has been working very closely with important research institutions for years to bring new technologies to market maturity and is a best practice example of how this transformation process can support climate transformation," explains Dr. Stefan Poledna, co-founder and chief technologist at TTTech.
25 years of success
The Federal Government's Climate and Transformation Initiative is aimed at leading technology companies whose solutions contribute to making the business location Austria fit for the future. The Federal Chancellor and Vice-Chancellor heard how TTTech has succeeded in developing high-performance and reliable networking and control solutions based on Austrian research, which are used worldwide in a wide variety of highly critical applications.
Technology from TTTech is used, for example, in space stations and satellites, but also in the new field of electrically powered urban air mobility ("air taxis"), with flagship customers such as the American company Joby Aviation. In the agricultural sector, TTTech is using a chip for industrial AI for the first time that detects weeds and combats them in a targeted manner. In this way, the amount of herbicides can be reduced. TTTech is setting a new innovation focus in the field of decentralized energy and smart microgrid management, which makes our power grids fit for the energy future based on proven digital technologies.
"TTTech is an innovative company that strengthens the research and business location Austria in a special way thanks to its technological openness. Research, innovation, and technology guarantee that we can achieve our climate goals in the long term and at the same time maintain our prosperity. Therefore, the Austrian government is supporting the Transformation Initiative with a funding of 5.7 billion euros. The future holds many challenges that should not be met with bans on thinking, and this location here is a good example of this," said Federal Chancellor Karl Nehammer during the visit.
"On behalf of TTTech, I would like to thank the Federal Chancellor and Vice-Chancellor for their visit and for their trust in TTTech and the entire Austrian high-tech industry. It will only be possible to achieve the climate goals that are so vital for all of us through the intelligent and cooperative interaction of science, business, and politics. We are highly motivated to make our positive contribution to this," says TTTech CEO and co-founder Georg Kopetz.
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© BKA/AndyWenzl
About TTTech
For 25 years, TTTech has been developing safe and reliable solutions for connecting, controlling, and automating highly critical machines based on Austrian research. The company was founded as a spin-off of TU Wien (Technical University of Vienna) and its solutions are used worldwide from the space to the wind energy sector. TTTech is still closely associated with this and other research institutions and TTTech’s CEO Georg Kopetz was recently appointed to the Council for Research, Science, Innovation, and Technology Development (FWIT Council), which is made up of representatives from science and industry and will in future advise the Austrian government on science and innovation policy issues.
