St. Gallen / Zurich/ Lausanne, 31 January 2013. – In its 2012 annual Report, the Swiss startup funding initiative venture kick proudly reports on the ongoing success of its model. From a total of 1,111 spin-off projects that applied for grants between 2007 and 2012, 251 received a total of CHF 9.4 million in financing. The resultant 194 incorporated companies have allowed for 2,006 new jobs to be created and subsequently raised CHF 365 million for growth.
Investors back the initiative
These figures demonstrate the success of venture kick as well as the positive impact of the program on the Swiss economy. Venture kick’s impeccable track record in selecting and promoting successful spin-offs has won the initiative investor confidence and has contributed in them massively backing venture kick supported projects. In fact for every franc granted by the initiative to selected Spin-offs, ensuing incorporated start-ups have raised an additional CHF 38. The initiative’s high quality selection has also been brought forward in the media. Interestingly, 57 projects that benefited from the funding, coaching and networking provided by the initiative were featured in last year’s national Top 100 Startups ranking.
Beat Schillig and Jordi Montserrat who co-manage the initiative both insist: "These new results clearly exceeded our expectations”. “When we started the initiative two years ago, we were originally hopping for our selectees to attract a total of CHF 250 million in financing volumes by the end of 2015. We can now raise the game and work towards exceeding the first billion by that same date ".
ETHs remain leading innovators while ICT projects rank number one
Regarding the origin of project, about 60% of applications come from the German speaking part of Switzerland and the remaining from Romandie. Almost half of the projects originate from the ETH Zurich and EPF Lausanne while the other half stem from more than 20 universities all over Switzerland. In terms of industry sectors, ICT projects account for more than half of application directly followed by electronics, medical technology, biotech and cleantech. Although male candidates still significantly outnumber female candidate- as one might come to expect in high tech industry still predominantly invested by men- the annual report states: ” female applicants have accounted for 16% off contenders this year and should occupy a growing segment in the coming years”.
A new financing model
While celebrating its 5th anniversary last autumn, venture kick announced the launching of a new support model that will allow the initiative to further develop as the number of projects applying for grants keeps rising. Schillig explains: “Among the 20+ applications we receive from university based spin-offs every month, eight will be given the opportunity to present their business idea to a panel of investors and experts and strive over three rounds to obtain CHF 130,000 in starting capital.”
Click here to view the annual report
About venture kick
Since the launch of venture kick on September 26, 2007, 255 project teams have benefited from CHF 9.67 million. It contributed to the creation of more than 2000 newly created jobs and a financing volume about CHF 365 million. These results show that this approach offers a great return for the Swiss economy and its enterprises. Thanks to venture kick, start-ups learned how to win customers and convince investors more rapidly. The program is open to all young talents with innovative ideas, which have not yet founded their company and are enrolled or employed at a Swiss University: students, postgraduates, researchers and professors.
The private initiative venture kick is financed by the Gebert Rüf Stiftung, ERNST GÖHNER STIFTUNG, OPO-Stiftung, AVINA STIFTUNG, Fondation Lombard Odier und DEBIOPHARM GROUP.
The project is managed by the IFJ Institut für Jungunternehmen in St. Gall. The objective of the initiative is to double the amount of startups originating from Swiss universities and technical colleges. Each month, eight projects get the chance to present themselves to a jury. The four most promising receive CHF 10'000 and automatically qualify for the second round held three months later, where the two best teams receive another CHF 20'000. In the third and final round, taking place six months later, the winner is granted CHF 100'000.
Management German speaking Switzerland:
Beat Schillig, +41 (71) 242 98 64, +41 (79) 358 04 19, firstname.lastname@example.org
Management Romandy: Jordi Montserrat, +41 (78) 708 18 04, email@example.com
Contact person: Lynn Durham, Lynn.firstname.lastname@example.org