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Dear reader

On Wednesday, the Federal Council announced that it intends to create an innovation fund for start-ups in the growth phase (article in German and French). Although the decision was expected, it caused some astonishment in the start-up scene. After all, it is a 180-degree reversal of previous policy. It has been known for years that Switzerland is not fully exploiting its potential in terms of start-ups. Not least, Swiss Startup Radar has repeatedly confirmed this in its analysis. And although technology transfer and the first steps of start-ups are promoted by a multitude of actors – which has contributed decisively to the positive development of recent years – only a few initiatives exist for scale-ups. An innovation fund, which does not use taxpayer money but can be profitable, is an important element of scale-up support. It is also an acknowledgement that Switzerland is not resigned to a place in the middle of the pack when it comes to start-ups, but wants to be among the world’s best.

The potential is there, as can be seen in the success stories of the week. French telecoms group Orange is working with OneVisage to make access solutions simpler and more secure. CITI Bank relies on Metaco to establish and pilot digital asset custody capabilities. A module from Kandou has been deployed in products from five of the top six PC OEMs. Obseva has received European approval for its first drug

In addition, numerous young start-ups are building a promising pipeline. Metaphysiks has received USD 2 million in funding to support its progress in life-like bodily stimulation for the metaverse. This year, seven young deep-tech companies each received CHF 100,000 from the WA de Vigier Foundation, and diagnostics start-up Avelo secured CHF 150,000 from Venture Kick.

The other seed and early-stage financings show the breadth of the Swiss start-up scene: Nexenic, a start-up with a portable mini-steamer, was able to attract investors, as was children’s clothes rental company OiOiOi and crypto investment platform nobank.

Next week I will be at the >>venture>> Awards ceremony and Venture Day Basel. I would also like to mention the ESA BIC Info Event on Thursday and an event with national councillors Andri Silberschmidt and Judith Bellaiche on Wednesday. Finally, deadlines are looming: registration is open for AIT India, tailor made for researchers with an applied project and growth opportunities in India, and canton Fribourg’s Innovation Prize until 30 June. Start-ups interested in Switzerland Innovation’s Tech4Impact initiative have until 7 July to apply.

Have a good weekend.
Stefan Kyora

Editor in Chief, Startupticker.ch