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We provide in-depth coverage of the European Forum Alpbach 2018.

Advice from Hermann Hauser

Passion the key to success, says serial-entrepreneur

Hermann Hauser, known as the Austrian Steve Jobs, explained in a session at the European Forum Alpbach how entrepreneurs should act to get support for their projects. “The most important thing is this passion, the belief that they can achieve impossible things.”

Hauser, a venture capitalist, told Alpbuzz that when he invested in a business start-up there were three criteria by which he estimated its future success: the size and growth rate of the market, the quality of the team and the technical defensibility of the idea. On the team, he stated, it was important to have a “five-star wizard” because “they all want to work with a star.”

Although being a multi-millionaire today Hauser said he chose passion over money when he decided on what he wanted to be. Looking back on his own career he said: “When I was 18 years old I wanted to study physics and my father wanted me to study economics to take over his company.”

Hauser then talked to a family friend who was a physicist. The friend advised him to follow his dream but at the same time warned him about never having much money in the future. But, “I love physics and I did physics and it didn’t turn out that way.”

By Alexandra Simmul and Andrea Vyslozil

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