The guide, published by Linde Verlag, offers start-up entrepreneurs valuable tips for successful company growth from inception to stock market fitness. Under the editorship of Ralf Kunzmann, Josef Schmidt, and Philipp Schrader, numerous experts publish practical tips on tax, legal, and financial issues.

A start-up is not an ordinary young company

Right from the outset, this book discusses the differences between conventional companies and start-ups. The rapid growth and high capital requirements often pose great challenges for founders. The practical experience of specialists from the fields of venture capital, investment banking, capital markets, and tax and legal advice, is designed to help them master these challenges. The book highlights the relevant phases of the financing cycle, and provides an overview of the challenges, opportunities, and obligations involved.

Ralf Kunzmann, Managing Director of aws Gründerfonds, says: “As an entrepreneurial investor, we offer technology companies not only growth capital, but also active support in designing expansion projects and preparing for further financing rounds. In addition to the right form of financing, it is crucial to choose the right financing partner for the development phase. Since 2019, the Vienna Stock Exchange has also been targeting smaller and younger companies with its own market segment, direct market plus. Our guide is designed to give founders and more established companies an overview of the various possibilities and forms of capital procurement.”

The motivation for the book: Changes in the Stock Corporation Act opened the door to the Vienna Stock Exchange

The idea for the book was born in 2018, when the government removed a long-standing obstacle in the Stock Corporation Act, thereby opening the door to the Vienna Stock Exchange for domestic, small and medium-sized, enterprises and growth companies. In January 2019, the Vienna Stock Exchange launched “direct market plus”. The new offering provides companies with easy and cost-effective access to the capital market.

Christoph Boschan, CEO of Wiener Börse: “The largest and most successful companies in the world are listed for good reasons. The genius of an IPO is that it simultaneously provides financing, enormous visibility, and ensures a sustainably professional corporate organization. Companies can thereby also arrange their succession. These advantages apply to companies of all sizes. As an infrastructure provider, our most important task is to create new routes to the capital market. In the direct network, we offer access to partners who support us on this journey.”

This network includes 80 partners, including banks, consultants, investors, lawyers, and auditors. The law firm Eisenberger & Herzog, as an official “direct network partner,” has also registered increased interest in the capital market.

Josef Schmidt, a partner at E&H, says: “Numerous enquiries in our consultancy practice have shown that there is extensive interest in stock exchange listings, especially from start-ups who want to plan or prepare the way ahead at an early stage.”

Philipp Schrader, a lawyer at E&H, says: “An IPO offers many opportunities for a company, for example as an additional source of financing, or to raise public awareness.”

The authors of the book include Eisenberger & Herzog’s Josef Schmidt and Philipp Schrader; Bernhard Ungerböck and Florian Resch for aws Gründerfonds; Iris Burgstaller, partner at TPA; Siegfried Neumüller, executive director at Raiffeisen Centrobank; Matthias Petutschnig, professor at WU for business taxation and Of Counsel for TPA; and Martin Wenzl, head of the department “Market & Product Development, Listing” at the Vienna Stock Exchange.