In an effort to support innovative companies in Switzerland, 53 projects have been approved for funding by the Swiss innovation body, Innosuisse. Since Switzerland is not currently associated with the EU's Horizon Europe framework programme, Swiss companies do not have access to the European Innovation Council's funding programme, EIC Accelerator. However, Swiss SMEs and start-ups were able to apply for direct financial support for "innovation projects with significant innovation potential" through the Swiss Accelerator programme, launched last year as a transitional measure.
After receiving 752 short applications, Innosuisse assessed 128 full applications, of which 64 companies were chosen to present their applications in the final round. From these, 53 projects were selected, spanning various sectors including life sciences, energy and environment, information and communication technology, engineering, and social sciences and business management. The aim of these projects is to develop novel products and services with significant innovation potential, ultimately accelerating the growth of highly innovative Swiss companies.
Innosuisse will fund up to 70% of the project costs, while companies must cover the remaining 30%. The support per project amounts to a maximum of CHF2.5 million, with the total funding amounting to CHF125 million. This initiative by Innosuisse is an important step towards supporting and advancing innovative companies in Switzerland, ultimately contributing to the growth and success of the Swiss economy.
Who is the Swiss innovation body
The Swiss innovation body, Innosuisse, is a federal agency that provides funding, coaching, and networks to support Swiss-based companies and researchers in developing innovative ideas and technologies. Innosuisse was established in 2018 through a merger of the Commission for Technology and Innovation (CTI) and Innosuisse, the Swiss Innovation Promotion Agency. The organization's primary focus is to promote innovation and competitiveness in Switzerland's economy by supporting innovative companies and start-ups, primarily in science-based industries.
Innosuisse offers a wide range of services to its clients, including project coaching, network development, and funding programs. It supports projects that have significant innovation potential and can contribute to the economic growth of Switzerland. Innosuisse's funding programmes cover different stages of innovation, ranging from idea generation to market launch. Additionally, Innosuisse has set up regional offices throughout Switzerland to provide local support to companies and entrepreneurs.
Overall, Innosuisse plays a crucial role in promoting innovation and entrepreneurship in Switzerland, thereby contributing to the country's economic growth and competitiveness. Its efforts to support innovative companies and start-ups through coaching, funding, and networks have enabled many Swiss-based organizations to create cutting-edge products and technologies that have impacted the world.
