Revised Funding Act – Direct support for good ideas before they enter the market – News


contents

Since the beginning of the year, it has been easier for start-ups that come from science to raise money to start a business. The reason is the revised federal law on the promotion of research and innovation.

It is the dream of many scientists: to have a brilliant idea that can be sold, perhaps a new technology or an active ingredient for medicines. But for the first entrepreneurial steps you need money. Wages and materials have to be paid before any income flows.

Now there is an easier way to get money than before via Innosuisse, the federal organization for promoting innovation. The reason for this is the revised federal law on the promotion of research and innovation.

The agency can now directly support start-ups that are about to enter the market. Annalize Eggimann, Director of Innosuisse: “You will receive direct financial support at a very early stage, when investors are usually still reluctant.”

Thematically anything is possible

Such early direct funding was not possible before the law was revised. The procedure was more complicated. The researchers first needed an independent implementation partner, i.e. a company or an association, for financial support.

Director Eggimann expects the simplification to result in many applications, especially from spin-offs, i.e. companies that are founded at universities. “It’ll probably be a few hundred.”

There are no thematic conditions as long as the projects are science-based. “It can basically be anything. It has already been the case that medtec and biotech companies are very well represented in funding and this will also be the case in the future,” says Eggimann. But there are also opportunities for other sectors.

«great thing»

These innovations inspire hope among young entrepreneurs. Beat Schillig is a member of the board of directors of the start-up training program Venturelab and managing director of the Venture Kick foundation, which provides start-ups with financial support.

Regarding the innovation at Innosuisse, he says: “I think it’s a great thing and it’s important for start-ups in an early phase. They need resources to make their technology marketable and to develop concrete products.”

Legend:

«Bouebot», the fondue robot: An example from a Swiss start-up workshop in 2022.

KEYSTONE/Maxime Schmid

Venturelab’s experiences over the past 15 years show what can be created from funding. “We have invested a total of around 45 million Swiss francs.” This resulted in more than 700 high-tech companies in Switzerland, which attracted more than 12,000 jobs and seven billion francs from investors. “I think that’s very important from an economic point of view,” says Schillig.

But that doesn’t mean that young companies can find money without the help of the federal government. Schillig says you can’t support enough. “We have around 70 applications to Venture-kick every month and can’t even invite a quarter of them to the jury, let alone sponsor them.”

Innosuisse also promotes start-ups before they enter the market. Once they have gained a foothold, they would have to continue on their own.

source site-72