Swiss Entrepreneurs Foundation – 500 Million Swiss Francs of Venture Capital for Fresh Businesses
Late this June the starting gun was fired to bring the Swiss Entrepreneurs Foundation into being. The project is advocated by well-known politicians and businesspeople, with Federal Councillor Johann Schneider-Ammann leading the way. The purpose of the new fund is to complete what is offered now, to improve the framework conditions for start-ups in Switzerland and to establish a start-up culture. The Swiss Entrepreneurs Foundation is expected to become operational in 2018.
Broad Support
The Swiss Entrepreneurs Foundation enjoys broad support. The 30 June 2017 inauguration was attended by UBS, CS and Mobiliar representatives. CS let it be known that it sees itself as a bank for entrepreneurs and furthers growth financing in Switzerland. Over the recent seven years CS has provided 100 million Swiss francs in venture capital. It is going to contribute the experience it has gained in this respect to the development of the Swiss Entrepreneurs Foundation.
In addition, the fund is supported by successful businesspeople such as Pierin Vincenz and Nicole Loeb. Business lawyer Christian Wenger and Zurich councillor Ruedi Noser espouse the project.
Swiss Entrepreneurs Foundation’s Objectives
The foundation’s aim is to extend and complete what is available to start-ups now. The Swiss Entrepreneurs Foundation intends not only to be a mere sponsor, but also to help founders in their contacts with each other, to provide them with advice and to politicise their concerns. Commenting on that, Zurich councillor Noser said to the NZZ am Sonntag: ‘If we want start-ups to seize the chances of digitalisation, we have to be politically active in three areas: regulation, taxation and education.’
The Swiss Entrepreneurs Foundation is going to concentrate on start-ups with venture capital ranging from three to fifteen million Swiss francs. Business lawyer Wenger said to the NZZ am Sonntag: ‘In Switzerland it is quite easy for start-ups to raise capital to the tune of 1.5 to three million Swiss francs for the development of a prototype. But afterwards things become more difficult. Foreign investors are particularly active in this segment. This poses a risk because for promising start-ups it is likely that technology is taken abroad. One of the Swiss Entrepreneurs Foundation’s objectives is, by the way, to prevent that.’
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Source: NZZ am Sonntag of 1 July 2017
