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

IWF is, as a heritage since foundation, structured into three departments with over 80 staff members from more than a dozen different nationalities.

In autumn 2000, IWF moved to the new AAS Victor Franz Hess - Research Center Graz.