B&C Private Foundation

Fostering Entrepreneurship in Austria

B&C Private Foundation

The purpose of the B&C Private Foundation is to foster entrepreneurship in Austria. All of the decisions taken by the B&C Group are weighed against this overarching goal.

The Austrian Private Foundations Act (Privatstiftungsgesetz, PSG) enacted in 1993, provides the legal basis for setting up private foundations in Austria. The legislature’s primary goals for the act were as follows:

      • Keeping Austrian wealth in the country
      • Preventing estates from being broken up
      • Creating incentives for investment of foreign wealth in Austria
      • Securing jobs in Austria

In line with the legislature's intentions, the B&C Private Foundation offers long-term ownership and secure development opportunities for Austrian industrial companies in which it holds or acquires direct or indirect investments.

This approach allows the B&C Group to make a significant contribution to the long-term commercial success of its core investments and, in turn, play an important role in fostering the development of Austria as a location for industry, while also helping to retain the future of corporate headquarters in the country – irrespective of any changes in ownership and other third party business or political interests.

Duties of the B&C Private Foundation

Fostering entrepreneurship in Austria

The B&C Private Foundation’s core objective is to foster entrepreneurship in Austria. This primarily takes the form of long-term investments in Austrian industrial companies. The B&C Private Foundation exercises its function as a core shareholder through its subsidiaries.

They provide their core investments with planning security at shareholder level, while exercising shareholder rights responsibly and in the interests of the respective companies. The subsidiaries also support the members they nominate to enhance the efficiency and effectiveness of the supervisory boards.

The B&C Private Foundation fosters Austria’s development as a business location through numerous initiatives aimed at improving the commercial and legal framework, with a specific focus on the Houska Prize, law and economics, endowed professorships and raising economic literacy.

 

Funding activities

Improving conditions for business

Houska Prize: awarded annually by the B&C Private Foundation, the Houska Prize is given in recognition of outstanding business-related research projects. The Houska Prize is Austria’s largest privately-financed award for application-driven research.

Economic literacy: following the establishment of the MEGA Bildungsstiftung (MEGA Foundation for Education) in partnership with the Berndorf Private Foundation, the B&C Private Foundation has sharpened its focus on fostering economic literacy with the specific aim of enhancing general business know-how among young people in Austria.

Law and economics: the B&C Private Foundation has been a supporter of the annual Vienna Corporate Law Day, Austrian Day of Supervisory Boards and the initiative eXplore! at the Vienna University of Economics and Business, among others.

Endowed professorship: the B&C established an endowed professorships to promote innovative research at life science universities in Austria: Non-Ferrous Metallurgy at the University of Leoben, partnered by AMAG.

Beneficiaries

Permanent beneficiaries are R2B MEGA Bildungs-Privatstiftung (MEGA Foundation for Education) and Commitment Privatstiftung. Furthermore, one-off benefits are granted to specific projects and initiatives on an ongoing basis, especially to the winners of the annual Houska Prize.

In pursuing B&C Private Foundation’s purpose, the beneficiary is the Austrian general public insofar as anyone could be concerned by the fostering of Austrian entrepreneurship, therefore in particular Austrian enterprises and entrepreneurs.

KI-Expertin Sandra Wachter beim Houska-Talk

Sandra Wachter, promovierte Juristin und international renommierte Expertin im Bereich IT, widmet sich beim traditionellen Programmpunkt Houska-Talk bei der Preisverleihung zum Houskapreis 2024 der Frage: „Wie intelligent ist Künstliche Intelligenz?“. Dabei setzt sie sich mit den ethischen Herausforderungen im Umgang mit Künstlicher Intelligenz und mit der Balance zwischen technologischem Fortschritt und ethischen Prinzipien auseinander. Die Diskussion wird Fragen zur Verantwortung und den moralischen Auswirkungen von KI-Entscheidungen, algorithmischer Voreingenommenheit und Profiling umfassen. Wachter ist Professorin für Technologie und Regulierung am Oxford Internet Institute der Universität Oxford. Dort erforscht sie die rechtlichen und ethischen Auswirkungen von Künstlicher Intelligenz, Big Data und Robotik sowie die Regulierung von Internet und Plattformen. 

B&C´ Sustainability Principles and Contribution

B&C considers sustainability as both a means and an objective in terms of reconciling commercial success with environmental and social responsibility over the long term. Applicable international and national regulations form the framework for B&C Group´s and B&C Private Foundation´s sustainability management activities, in particular the United Nations’ 17 Sustainable Development Goals, the Paris Agreement on Climate Change and the European Green Deal, as well as the guidelines and orders stemming from them. ESG stands for environment, social and governance. These three pillars represent a key measure for B&C when it comes to assessing companies’ sustainability performance.

Download B&C' Sustainability Position Paper

Nachruf MS 2023 - nicht sichtbar

Obituary: B&C family mourns the loss of Mariella Schurz

Mariella Schurz
Mariella Schurz (1974-2022)

It is with great sadness that we bid farewell to Mariella Schurz, our long-time colleague, General Secretary of the B&C Private Foundation and Managing Director in the B&C Group. Mariella’s passing on 4 November 2022 spells the loss of an exceptional individual. She was highly committed to the B&C Group, to her employees and to building a better society through her courageous and rousing dedication, and a great deal of warmth and understanding.

 

To the obituary

Schur Flexibles

B&C acquires Schur Flexibles - nicht sichtbar

The B&C Group has acquired an 80% share in the international packaging company Schur Flexibles Holding GmbH. The remaining 20% will be retained by the current owner, US private equity company Lindsay Goldberg. The B&C Group prevailed against several prospective buyers, and its investment means that Schur Flexibles, an international packaging specialist based in Wiener Neudorf in Lower Austria, will have an Austrian majority owner going forward. This also ensures that the company headquarters will stay in Austria.

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