On April 24, 1970 the Austrian Academy of Sciences (AAS) decided to establish the Space Research Institute (Institut für Weltraumforschung, IWF).

Today, IWF consists of three departments with approx. 75 staff members.

In autumn 2000, IWF moved to the new AAS Victor Franz Hess - Research Center Graz, where also a memorial place for the Styrian rocket pioneer Friedrich Schmiedl is set up.

One research group is situated at the nearby observatory Lustbühel.