FONGIT presents results of 30 years of incubation

FONGIT, the Geneva Foundation for Technological Innovation, celebrated its 30th anniversary this week with an event joined by more than 200 entrepreneurs, politicians, investors and supporters. The incubator presented its brand new report on its social and economic impact on the region. Over the last ten years, more than 1,500 jobs have been created, including 500 direct jobs in the canton. In addition, the support of tech start-ups resulted in the attraction of talent, the creation of a competitive market and a thriving innovation ecosystem, as well as a significant tax return for the canton. For every franc invested in a start-up through FONGIT, a tax return of 1.2 francs per year was generated.

"In a deep-tech nation like Switzerland, great opportunities come from universities and colleges. FONGIT has taken the first step to approach these key partners and accelerate the process," says Igor Fisch, President of FONGIT. He adds: "Ten years ago, one in ten start-ups had a link with a research institute. Today, almost 50% of FONGIT's start-ups have a link to a research institute.

Antonio Gambardella, Director of FONGIT, commented "supporting innovation and entrepreneurship is supporting our future by creating a prosperous, sustainable and responsible economy for the generations to come.”

Today FONGIT supports 130 start-ups. One of the founding attributes is the concept of a “full service innovation platform” and Fongit is one of the rare platforms able to provide not only hosting and coaching, but also administrative, governance, and legal support as well as access to financing. The launch of the Fongit Innovation Fund (FIF) in 2021, pushed further the support for startups by providing them new financing possibilities.

From failure to FONGIT

Swiss entrepreneur Jean-Pierre Etter failed twice before achieving international success with his company LEM, today the market leader in providing innovative and high-quality solutions for measuring electrical parameters. His failures led him to understand the importance of supporting innovation and startups and to create the Fondation Genevoise pour l'Innovation Technologique FONGIT, to help entrepreneurs avoid the mistakes he made, and boost their success.

This week's anniversary event not only celebrated the past, but also looked to the future. The three high-profile panellists Andy Yen (Proton), Adam Said (Ace and Company) and Alisée de Tonnac (Seedstars) concluded the discussion by talking about what they hope the future holds for the Geneva and Swiss startup ecosystem. The wishes were firstly more direct financial support from the state for startups, secondly more and more open communication with each other and thirdly more tolerance towards failure.

The impact report can be downloaded from the website of FONGIT.

(Press release / SK)