A pragmatic proposal from Venturelab would allow start-ups to be supported as part of the federal government’s liquidity support. The proposal convinces start-ups.
On Wednesday, the Federal Council has informed about the regulations for the new state guaranteed bridge loans. The bridge loans are not intended to replace financing rounds. Start-ups being in trouble because they are (no longer) financed by investors need additional solutions. Venturelab proposes an adaption to the rules to the special situation of start-ups (PDF). According to the proposal investments, grants and award money should be included in the calculation of the “revenue” that is decisive for the credit line. In addition it should be possible that owners and investors guarantee the 15% remaining credit risk of loans of more than CHF500k.
Venturelab has started a survey among start-ups about this proposal also on Wednesday. Less than 24 hour later more than 400 companies have already answered the survey. The key results:
- 57% of the respondents answered that without getting additional liquidity in the next month the existence of the company is at risk
- For 70% the already existing bridge loan solution does not work
- A bridge loan based on the adaptions proposed by Venturelab would help 43% of the respondents to master the crisis. For additional 30% the amount would definitely help out
- 90% of the respondents said that the proposal should be presented to the Federal Council
The results are based on the answers of 438 start-ups with 3832 FTEs. The companies are on average 3.6 years old and have raised CHF5.5 million.
The full survey data can be downloaded on the Venturelab website.
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