Successful startups in the fields of forward-looking technologies represent the innovative strength and competitiveness of a location. The Swiss start-up scene is very diverse and this has proved to be a strength during the coronavirus crisis.
Innovative strength of startup ecosystem fosters resilience
The Swiss startup ecosystem proved to be resilient during the coronavirus crisis thanks to innovative strength in a variety of technology fields. Although financing rounds of more than CHF 200 million were missing in 2020, startups generated more than CHF 2 billion for the second consecutive year (source: Swiss Venture Capital Report 2021). Investments in biotech even grew by more than 30% in comparison to the previous year. The innovative strength of Switzerland and Greater Zurich also offers the ideal breeding ground for unicorns. At least five privately held startups reached the prestigious "unicorn" status with a valuation of over one billion US dollars, including four from Greater Zurich: GetYourGuide (travel platform), Wefox (insurance marketplace), Numbrs (banking app) and Acronis (cybersecurity).
Innovation and business-friendly environment
The three most important ingredients for a thriving startup ecosystem are talent, capital and customers. In addition, there are leading universities, renowned companies, mentors, incubators and accelerators, innovation support programs, associations and special events. An innovation and business-friendly environment and a sense of entrepreneurial spirit round off the package. Greater Zurich has developed into a very attractive location for successful startups.
Investments break new record
The Swiss start-up scene is very diverse and this has proved to be a strength in a crisis. Investment in Swiss startups was surprisingly robust in 2020, with the threshold of CHF 2 billion in venture capital exceeded again. Although financing rounds of more than CHF 200 million were missing.
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