Today, WIFO is the quality leader in the field of Austrian economic analysis and policy consulting, and is increasingly undertaking competitively awarded studies and contracts for the European research scene. Already at its foundation 85 years ago the Institute employed a model of independent applied research with a broad spectrum of stakeholders including the social partners that was unusual for its time, and it was able from its earliest days to obtain international funds through the Rockefeller Foundation, i.a., through contacts by Friedrich A. von Hayek, its first head and later Nobel laureate, and contracts awarded by the League of Nations through the agency of Gottfried von Haberler. Today the challenge is to analyse cyclical and medium term growth as well as the competitive strength of Austria and Europe in an open and globalising environment, and to draw up reform concepts for a socio-economic model where ever greater importance is accorded to the new priorities of openness, dynamics, social security and inclusivity, as well as ecological sustainability and transformation. This remit can be served only through excellent human capital, competent organisation and a multiplicity of methods and paths to knowledge.