In 1908, to mark the 60th anniversary of Emperor Franz Joseph I's accession to the throne, it was decided to establish a Technical Museum for Industry and Trade in Vienna.

Once the location was determined, with the museum set to be built in the 14th district of Vienna near the imperial residence in Schönbrunn on land provided free of charge by the city, initial studies were prepared by Viennese Historicist architect Emil von Förster.

After his sudden death in 1909, a design competition was held among architects working in Vienna, including Otto Wagner, Adolf Loos, Rudolf Tropsch, and Max Ferstel.

Otto Wagner, a leading member of the Vienna Secession movement, won the competition; however, the heir to the throne, Archduke Franz Ferdinand, a staunch opponent of modern art, overruled the decision and declared the design by Hans Schneider, which closely resembled Förster's plans, the winner.

The museum remained intact during World War II but received few visitors due to school closures and the ban on Jewish individuals.

The road vehicle department showcases milestones in Austrian automotive history, featuring brands such as Austro-Daimler, Gräf & Stift, Steyr, and Puch.