The Institute of Science and Technology Austria (ISTA) in Klosterneuburg on the outskirts of Vienna is a PhD-granting research institute. Opened in 2009, the Institute focuses on basic research in the natural sciences, mathematics, and computer science. ISTA employs professors according to a tenure-track model as well as postdocs, and PhD students in an international graduate school. In addition to its commitment to basic research, which is solely curiosity-driven, the Institute holds the rights to all resulting discoveries and promotes their exploitation.