History
The Vienna Science and Technology Fund (Wiener Wissenschafts-, Forschungs- und Technologiefonds; WWTF) was set up in 2001 in order to encourage top-performing research work in Vienna and make Vienna attractive for international scientists. Its formation also served to emphasise the importance of basic research to provide an impetus for developing new technologies and insights for the City of Vienna.
The WWTF draws its funding from a private bank foundation. A prevalent practice in countries such as the USA, UK or Germany, this type of financing for science and research is unique in Austria.
In the years 2003 to 2010, WWTF already has dedicated more than € 54 million in funds to scientific research projects and the financing of WWTF Science Chairs.
"As a metropolis and as a European region, Vienna must invest in key areas of future development. Only if we manage to expand our strengths and to position ourselves as a centre of knowledge against the background of increasingly mobile and interlinked markets, will we be in a position to further increase our economic potential and our quality of life."
Mayor Michael Häupl
President of WWTF