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The paper deals with necessary requirements to implement MOOCs at European universities, by the example of Austria. As the respective general conditions and business environments are obviously different from the university system in the United States the analysis of advantages and obstacles of offering MOOCs is done from a local point of view including lecturers' and students' perspectives as well as necessary preconditions that have to be established by the universities and the government. Thereby, challenges in the fields of content creation, the supply of MOOCs, the assessment of knowledge and the development of business models are pointed out and discussed.

"The opportunity that Massive Online Open Courses (MOOCs) offer for cost effective massification of learning has generated significant interest from governments, higher education institutions (HEI) and commercial organisations. A growing number of HEI have been involved in experimenting with MOOCs for the purposes of expanding access, marketing and branding, as well as the potential of developing new revenue streams. The motivation for some MOOC providers is a philanthropic one and for others a business proposition. However, in both cases, there is the challenge of finding a viable business model that allows for sustainability of MOOC provision. "