Zürs Investor Conference 2026: From Quantum Technologies to European Infrastructure

Held from 13th to 15th of April in Zürs am Arlberg (Austria), our flagship conference created a setting to look beyond short-term market noise and engage with the longer-term questions shaping European capital markets. Visitors participated in around 1,000 pre-arranged one-on-one and small group meetings, complemented by high-level panel discussions. We summarized the key takeaways for you.

The first panel, held on April 13th, combined perspectives on quantum technology from Research, Industry, and the Investment Community.

Henrietta Egerth (FFG) gave an overview of Austria’s quantum technology landscape that  offers a high level of innovation and research capabilities, making the country a relevant and competitive player within Europe  She highlighted the importance of both public funding and private investment in building the ecosystem.

Magdalena Hauser and Wolfgang Lechner from Parity Quantum Computing, Thomas Monz from Alpine Quantum Technologies, and Rupert Ursin from Quantum Technologies Group presented their respective companies’ specific approach to quantum technology and current progress. While their different strategies reflect the breadth and depth of Austria’s quantum ecosystem, the common focus is on developing scalable quantum systems and advancing technological capabilities with a strong emphasis on transitioning from research-driven innovation to commercially viable applications.

For Stéphane Hour, Head of Research at ODDO BHF, quantum technology is already visible in the market but still at an early stage of development. He senses growing investor interest, combined with a certain level of caution due to technological and commercial uncertainties.

The following discussion, led by Stefan Maxian, Equity Capital Markets Director at Raiffeisen Bank International, addressed how Austrian and European players can compete globally in a rapidly evolving market. The key takeaways included a need for stronger international positioning and more proactive investor communication, the importance of expanding funding structures and strategic partnerships as well as an increased focus on commercialization, scalability, and real business applications. There was an overall consensus on the significant long-term potential for industry and the economy with a huge transformative potential and the possibility of quantum technology being the next major breakthrough following AI.

The second panel, held on April 14th and moderated by Markus Remis of ODDO BHF, delivered a holistic perspective on infrastructure development in Europe due to a strong mix of economists, industry leaders, and investment experts.

The discussion between Gunter Deuber from RBI, Stefan Kratochwill from STRABAG, Klemens Eiter from PORR, Felix Strohbichler from PALFINGER, and Marc Caretti from Raiffeisen Capital Management centered on the investment gap in Europe. There was a broad agreement that years of structural underinvestment have negatively impacted economic performance. The German “Sondervermögen” of €500 billion was highlighted as a major stimulus measure with participants expecting a clearly positive economic impact, despite only partially closing the existing investment gap.

Stefan Kratochwill (STRABAG) and Klemens Eiter (PORR) identified strong market positioning as a key advantage in benefiting from large-scale public spending programs and view infrastructure investments as a significant growth driver for the sector. On the other hand, they see challenges and emphasized the need to streamline tender processes to avoid delays in administrative processes.  Other companies with exposure to the construction sector can benefit indirectly from increased infrastructure investments, expects Felix Strohbichler from crane manufacturer PALFINGER. In his opinion, the Austrian market dynamics are currently underperforming, with civil engineering as a relative bright spot within an otherwise weaker environment.

The overall sentiment was optimistic. The participants agreed that infrastructure investments are a key lever for economic recovery in Europe while emphasizing a clear need for faster execution and more efficient regulatory frameworks.

On April 15th, the panelists, moderated by Roman Eisenschenk (Co-Head of Equity Sales Austria & CEE, ODDO BHF), discussed market outlooks with a clear divergence in views between growth optimism and geopolitical caution. While AI was identified as the central driver of current equity market optimism, sector differentiation is increasingly important.  Geopolitical developments remain a key uncertainty factor, however, equities continue to be seen as a core asset class despite risks.

Günther Schmitt (Head of Equities, Developed Markets, Raiffeisen Capital Management), sees continued success with a strong focus on technology investments and identified a more cautious stance on the automotive sector. Thomas Zlowodzki (Head of Equity Strategy, Oddo BHF) aligns with the positive market outlook and supports the view of AI driven earnings momentum.

Miro Zuzak (Chief Investment Officer, JMS Invest) gave a slightly more negative overall market outlook and sees a reshuffling of the global world order due to geopolitical risks, including the Iran conflict. He highlighted possible threats to supply chains, the energy markets and the chemicals sector. He also provided a negative view on software and expects further downside potential. On the other hand, he identified a positive development for European infrastructure and healthcare, with AI also seen as supportive factor in selected sectors.

Tobias Mock (Managing Director, Country Head Germany, S and P Global) provided a credit market perspective. He identified risks in the private credit sector but doesn’t expect a significant interest rate shock or abrupt rate changes due to inflation.

Thanks to the distinguished panel of speakers, this year’s conference once again served as a platform for in-depth discussion, allowing us to examine key issues and trends in the European capital markets from a variety of perspectives. We’re looking forward to next year’s conference and hope to welcome you, too!