Venture Kick is celebrating 11 years of supporting startups. Since establishment in 2007, the initiative invested over 24.9 million Swiss francs in 600 projects that have created over 6000 jobs. And in 2019 the initiative will fund more startup projects than ever.
The Venture Kick initiative was launched in 2007 with the objective to provide financial support to Swiss startups to enable them to kick-start their entrepreneurial success. Venture kick runs a three-stage program with a structured process designed to support startups on their startup journey to building a successful business. The program offers opportunities for startups to pitch to expert juries at each stage to obtain funding, obtain direct feedback and access to an international network of successful entrepreneurs and investors.
Today, Venture Kick has published its annual report and reflects on its past engagements to celebrate 11 years of success in contributing to the growth and development of the startup ecosystem. Since its establishment, the initiative has invested CHF 24.9 million in 600 projects resulting in the creation of 454 companies and 6,033 jobs (FTE). Additionally, venture kick alumni startups have continued to thrive with an 89 percent survival rate after 5 years.
Switzerland on the map
The intense activity has alos been noted in San Francisco. Crunchbase, the directory for global startups and venture capitalists, recognized Venture Kick among the world’s 14 most-active seed investors in 2018, alongside private U.S.-companies such as Y-Combinator, 500 Startups and Techstars.
Venture Kick alumni companies have also attracted money from other investors, organisations and companies. To date the startups received a total of 2.5 billion francs, through equity and acquisitions, complemented by grants, loans and awards. In 2018 alone, 687 million francs flowed into the startups –a 49 percent increase compared to 2017. Eleven of the startups raised over 10 million in financing rounds in 2018.
To build on this success, Venture Kick has set forward ambitious goals. As of 2019, the initiative announced a 36-percent increase in funds invested in startups bringing the total available funds to 4.35 million francs for 75 innovative and new projects.
“The new model supports our ‘Mission 2027’. Our target is to create a portfolio of 1,000 high-tech startups in Switzerland, generating 15,000 jobs, with total revenue exceeding 2.7 billion francs,” said Beat Schillig Venture Kick’s co-managing director.
The annual report can be downloaded from the website of Venture Kick.
(Press release - RAN)
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