Not only companies need to be innovative to keep up with the pace of our times: Universities around the world are looking for new ways to do research and to teach their students the skills they need in their careers.
By giving their students the chance to participate in an event like the Innovation-Marathon, the universities teach them how they can apply the theoretical knowledge they have gained in their university programs. Through the hands-on experience of the Innovation-Marathon, the students will leave the university with a more realistic view on how things are being done outside the lecture halls.
And not only the students learn: by cooperating with each other, the three institutions transfer knowledge between themselves, making Austria a more competitive business and know-how location.
You can find more on what the TU Austria does here: http://www.tuaustria.ac.at/en/472/