Scale Up Vaud welcomes 13 high-growth companies

Since the Scale Up Vaud program was introduced by Innovaud in 2016, it has helped scores of promising young businesses grow rapidly and create jobs (over 8,400 highly skilled positions in Switzerland and around the world). The program now counts 50 scale-ups, including 13 additions this year. The newly added comapies are:

• Aequivalent (ICT, HR): Switzerland’s leading digital platform for job-applicant screening (background checks)
• Bloom Biorenewables (cleantech): Technology for turning residue biomass into sustainable alternatives to petroleum for a range of industries
• ClearSpace (spacetech): Autonomous systems for treating and removing space debris
• CREAL (ICT): Unique light-field technology that projects virtual images with genuine depth, allowing virtual and real-world objects to overlay seamlessly
• CYSEC (ICT, cybersecurity): Data security software enabling secure communications from space to earth
• Daphne Technology (cleantech): Climate technology for measuring and reducing greenhouse gas emissions from industrial sources
• Inpher (ICT, cybersecurity): Encryption in-use technology that unlocks the value of data in a secure, private and compliant manner
• Insolight (cleantech): Creators of Insolagrin - a dynamic agrivoltaic solution to produce both agriculture and electricity on the same land
• SamanTree Medical (life science, medtech): Novel imaging methods and data analytics software for improving cancer treatment
• Swibeco (ICT, HR): Enterprise software for Swiss companies that centralizes the management of employee benefits
• Talent.com (ITC, HR): International job aggregator that leverages innovation to deliver a seamless job search and recruitment experience
• Sensile Technologies (ICT, IoT): Remote tank-monitoring systems for the oil, gas and chemicals industries
• Smeetz (ICT, AI): AI-powered pricing system for the attraction industry that captures data points along the customer journey to drive revenue growth and optimize operations

Scale-up Vaud forms a community of over 150 members who meet regularly at events initially designed for CEOs but which have since expanded to include specific gatherings for HR managers, CFOs and CTOs. These events provide a unique opportunity for entrepreneurs to discuss common challenges they face in this critical phase of their business development.

Jean-Pierre Pennacino, the Vice President of Finance at MedAlliance (which was acquired in 2022 for more than $1 billion), says: “The Scale Up Vaud program structured by Innovaud has been a great opportunity for me personally to network with peer CEOs and CFOs on our common challenges and opportunities. In recent years, scale-ups have had to manage highly volatile economic conditions, and the program has been a great option for finding new ideas, solutions and resources. I have no doubt that the promising companies joining the Scale Up program in 2023 will benefit from it and successfully develop their businesses further.”

Fabio Ronga, CEO of beqom (also acquired in 2022), adds: “Innovaud has created an ecosystem that’s been very valuable for me personally. Its strict selection criteria have given me the opportunity to speak with other business leaders that are facing precisely the same growth-related challenges.”

“The Canton of Vaud is known internationally as a hotspot for innovation and the development of disruptive technology,” says Patrick Barbey, CEO of Innovaud. “With our Scale Up Vaud program, we hope to give high growth tech companies the specific support they need to take their businesses to the next level. This will also help create and maintain a pool of high-caliber jobs in our region.”

A record number of IPOs and acquisitions since 2021

Four of the 50 Vaud scale-ups – MedAlliance, Depsys, beqom and BlueBotics – were acquired in 2022. This comes after another scale-up, GreenMotion, was acquired in 2021. And a further three scale-ups – SOPHiA GENETICS, Astrocast and Onward Medical – have gone public in the past few years.

“These IPOs and acquisitions are an excellent signal, as they show that Switzerland – and the Canton of Vaud in particular – provides an ideal setting for innovation and business development, whether for entrepreneurs, venture capitalists or acquirers,” says Barbey.

(Press release /SK)