New FONGIT Innovation Initiation Program launched

FONGIT Innovation Program provides a valuable step in shaping and derisking projects with the aim to prepare and support them towards becoming the next top startups in their field. Now both life sciences, deep tech, and high impact projects can enter the FONGIT innovation initiation program. James Miners, Head of Startup and Innovation Programs at FONGIT tells us: “All deep tech and high impact projects are welcome to apply to the FONGIT Innovation Initiation Program, whether they are from academia or industry. They must be based in Geneva, or willing to settle here. You just fill in the application form and provide any documentation you may have (slide deck, elevator pitch, value proposition canvas, lean canvas, etc.).”

After an initial selection process, each project is assigned an innovation coach who helps them to carry out a gap analysis. This diagnoses their maturity and define what resources they will need and what partnerships they could form. The project leaders are then entitled to three coaching sessions. After a first cycle of initiation, the committee decides if they are ready to apply for startup support, graduate, or to do a second cycle. The innovators can also participate in the workshops and events organized by FONGIT and have a workspace at FONGIT’s headquarters in Plan les Ouates.

On a mission to transform research into social and economic value, the coaches guide the innovators from the idea stage to an MVP (Minimum Viable Presentation), and to get their first feedback from stakeholders and future customers. The program works together with academic institutions such as Science Innovation Hub, HUG Innovation Center, CERN, the Applied Universities to name a few, to complement the project’s translational activities and provide the bridge to the startup world. The program also empowers project leaders, so they can start hunting for awards, grants and angel money on their own or also to apply to the FONGIT Innovation Fund. The aim is clear: finding a promising way to create jobs and settle permanently in Geneva’s thriving startup community.

Many interesting projects were born at Geneus such as OneDoc, the online medical appointment booking platform, EBAmed (which just raised CHF 14 Million), Terapet, Fluosphera, Imverse, Hero Support, Consulto are just a few of the alumni of this powerful innovation initiation program.

Supporting startups at different stages

FONGIT Innovation Initiation Program is the perfect preparation for startup support and many of the top Swiss startups have progressed from initiation to full support on their path to success, says James Miners. Innovation Initiation is designed for early stage projects which need shaping and de-risking before deciding to launch the startup. Startup support is for more advanced, deep tech projects where the company is ready for foundation, or is already founded, and has a full pitch deck and committed team. If an entrepreneur is not sure which is the best program, they can simply apply. FONGIT’s selection committee will guide them to the optimal program. Next FONGIT Innovation Fund 2023 Deadlines are August 10th, October 2nd and November 7th

(ES)

FONGIT’s startup coaches and senior advisors on picture: Dr. James Miners, Dr. Bolko Hohaus, Emmanuel de Watteville, Caroline Coquerel, John Elbing, Ingeborg Albert, and Antonio Gambardella. (Not pictured: Dr. Christine Deuschel, Dr. Wilma Lukas, and Dr. Marco Rüedi.)