In 2023, Austria's R&D expenditure was 3.26% of GDP, ranking 3rd in the EU. By 2024, it's projected to reach 3.34%, totaling €16.64 billion. Tyrol is a life sciences hub, with Novartis expanding its facilities at a cost of €250 million each by 2025. Novartis focuses on innovative medicines, opening the Analytics Lab in Kundl and CC2Plus in Schaftenau. Ligand Pharmaceuticals acquired Apeiron Biologics in July 2024, committing to invest up to USD 4 million in invIOs GmbH. Austria promotes R&D through direct funding, a 14% research tax credit, and an immigration allowance. The Austrian Business Agency offers free advice and will participate in major biotech conferences.