The Spin-off Austria initiative was initiated by Hermann Hauser and Herbert Gartner - two renowned Austrian investors - and their respective companies Hermann Hauser Investment GmbH, I.E.C.T. - Hermann Hauser and eQventure GmbH. The long-term goal of the initiative is to raise awareness that entrepreneurship must be a third task of Austrian universities, universities of applied sciences and research institutions alongside research and teaching. The direction of the Spin-off Austria Initiative is set by a committee made up of internationally successful entrepreneurs as well as university leaders and experts.