[1] Like in the Weizmann Institute, scientists are encouraged to pursue their own goals and ideas not restricted by government or economic interest and all research themes are interdisciplinary.

[4] The idea of creating a scientific flagship organization for research and postgraduate studies at the highest level was proposed by Austrian physicist and Nobel laureate in physics of 2022 Anton Zeilinger in 2002 at the annual technology forum in Alpbach.

In 2006, an international group of three scientists including Haim Harari, Olaf Kuebler and Hubert Markl were invited by the Federation of Austrian Industries to advise the establishment of the institute and create a road map for it.

The panel broadly represented the natural and engineering sciences beyond the research areas that were present at ISTA at the time.

The committee pointed out that the trajectory of development of all the elements of ISTA is towards making an organization of clear excellence that will be recognized throughout the world, but continued governmental support is a necessary condition.

The report was very positive, reading "The next years will prove crucial if the ISTA is to achieve the goal of international distinction.

This evaluation focused on the scientific achievements and portfolio as well as the general development of the institute, the graduate school, the support structures, efforts in technology transfer and science education, and plans for its future expansion.

The evaluation concluded that ISTA has been following a positive trajectory in its first ten years of existence that meets the goals set by the Austrian government and the state of Lower Austria.

[20] The ISTA campus in Maria Gugging, Klosterneuburg, consists of ten main buildings in a green space area of 179,000m².

The historical Central Building hosts a lecture hall, seminar rooms, the guest house, and recreational facilities.

[23] In 2023, the Moonstone Building was opened hosting the first astrophysics research groups at ISTA as well as space for the VISTA Science Experience Lab.

[34] As recommended in the initial report on the foundation of ISTA,[8] the institute provides infrastructure and services to support the creation and licensing of applied technologies as well as the founding of spin-off companies based on its researchers’ work.

Of those €1.4 billion, up to €990 million come from the federal government of Austria depending on the institute's ability to procure third-party funds.

[38] The first president of ISTA was Thomas Henzinger, a computer scientist and former professor of the University of California at Berkeley and the EPFL in Lausanne, Switzerland.

Hetzer was previously professor as well as Senior Vice President and Chief Science Officer at the Salk Institute in La Jolla, California.