Today, Federal Councillor Ueli Maurer committed support for Swiss startups. Startups that need financial support should get in contact with the canton in which they are incorporated.
Maurer: “Startups are particularly affected by this crisis. In the coming years, it will be an advantage for Switzerland to remain competitive in innovative industries. These companies don’t need money for two to three months; they need long-tem financial security over a period of several years.
Startups that need support should get in contact with their canton of incorporation.The cantons know their startups and are therefore best placed to evaluate a company’s needs and potential. Companies that have viable ideas will be supported – a third of the sum is provided by the canton, two thirds are provided by the Federal Government. Initially, the Federal Government will make CHF 154 million available for this program. This way, we are not offering short-term relief, but we will be creating a long-term solution, based on existing laws. We are looking ahead and will use this money to replace investors who may have reduced financial capacity due to the effects of the crisis. It is also important to note that the money will flow immediately. We will be able to pay out the first amounts at the end of April.”
For the last nine years, the World Intellectual Property Organization (WIPO) has named Switzerland one of the most innovative countries in the world. Switzerland doesn’t just invest in innovation, but also generates exceptional results.
At Hemex, we welcome this decision by the Federal Council and see this decision as a very positive sign of confidence. The Federal Government has clearly recognized the seriousness of the situation, demonstrating that it understands the challenges Swiss startups are facing, and giving a clear signal how important it is to provide support to start-ups and foster innovation!