How Swissnex is Helping Swiss Startups Internationalize Across the Globe

For the last 13 years, Switzerland has held the top position of the Global Innovation Index and is an established hub for innovation. This has been possible owing to investing in research and development that has led to innovation across sectors, including pharmaceuticals and biotechnology, and encouraging collaboration between research institutions, universities, and private companies that contributes to knowledge sharing and generation. Moreover, Switzerland’s commitment to a high-quality education system has consistently produced a skilled and adaptable workforce necessary in a dynamic innovation ecosystem.

To counter the “brain drain” that was taking place from Switzerland to the United States, “the Swiss Network” in Boston was formed two decades ago. However, as it became clear that globalization was an asset rather than a threat, the focus shifted to connecting people, institutions, and companies from different fields. For over twenty decades, Swissnex has been bridging the gap between Switzerland and the world in research, education, innovation, and entrepreneurship.

While Swissnex was initially present in the North American cities of Boston and San Francisco, over the years, the organization has extended to various locations worldwide, including India, China, Brazil, and, more recently, Japan. With a presence in six regions renowned for innovation, the Swissnex network is backed by a team of more than 20 Science Counselors based at Swiss embassies in major cities worldwide, including the United Kingdom, South Korea, and Israel. The recipe for success lies in Swissnex’s versatility of being global and local at the same time.

Apart from policy - which is only one of the ways in which we facilitate knowledge exchange, innovation, and entrepreneurship - among Swissnex’s biggest assets are its startup programs, most prominently the Innosuisse internationalization camps. Powered by Innosuisse, the internationalization camps have helped the most promising Swiss startups connect with thriving ecosystems in the world’s leading innovation hubs and establish a foothold in new markets abroad. The market validation and market entry camps are open to all Swiss startups in the Innosuisse startup coaching program. More than 600 startups are currently enrolled in the Innosuisse coaching, which offers interest-free support to science-based startups in Switzerland for up to seven years with 200+ experienced coaches.

Our equity-free startup programs are customized to the needs of entrepreneurs. How do we make this happen? Our local teams in different markets have cultivated the right connections for over twenty years and are well-equipped to work with and guide Swiss startups. Deepika Prithviraj, for instance, is eager to expose startups to opportunities in India, where the potential for co-development is enormous as you can rapidly iterate and test for a US, Australian, and Brazilian market simultaneously to create a global product. Similarly, Swiss startups exploring Japan as a market would benefit from consumers’ high purchasing power, and Brazil’s growing middle class would offer Swiss startups a rising consumer base with increased disposable income.

But what do Swiss startups stand to gain from expanding to global markets? A lot, it appears. Expanding would give them access to large populations, potentially leading to significant growth and scaling opportunities, which could translate to increased revenue and profitability. It could also broaden the pool of potential investors and unlock additional funding opportunities, besides increasing brand recognition and credibility.

In July of this year, representatives from nine Swissnex locations will be in Switzerland for a week to meet with Swiss startups and introduce them to the countries they represent. The idea is to expose them to new markets and introduce them to potential opportunities in these markets.

Here is a look at the locations where Swissnex offers Innosuisse internationalization camps and why Swiss startups should leverage Swissnex’s offerings to internationalize.

Boston: With a Gross Domestic Production (GDP) of 23 trillion USD, the United States (US) is by far the world’s largest economy and accounts for one-third of global consumer spending. Massachusetts, the capital city of which Boston is, has a population similar to that of Switzerland, but it has almost ten times the venture capital investment. Boston’s academia-driven, tech-savvy, and life sciences-focused economy is ideal for business-to-business (B2B) startups. The corporate space is dominated by pharma companies owing to the presence of universities, especially Harvard and Massachusetts Institute of Technology (MIT). Kendall Square is considered “the most innovative square mile on Earth.” Being present in Boston also allows startups to explore other East Coast locations such as Connecticut and Rhode Island.

Swissnex in Boston hosts one biotech cohort in the spring paired with the BIO (Biotechnology Innovation Organization) Convention, though it also provides individualized programs to startups in other sectors throughout the year. Write to Oriane Rutsche at oriane.rutsche@swissnex.org for more information.

New York: With a 2 trillion USD Gross Metropolitan Product (GMP) that puts it ahead of all but nine countries worldwide, New York’s economy is a powerhouse. Home to more Fortune 500 companies than any other city, New York has long been a global leader in traditional “anchor” industries, including financial services, insurance, healthcare, media, and fashion retail and marketing. Other industries that thrive in New York include AdTech, advanced manufacturing, AR/VR, blockchain, cybersecurity, fintech, SaaS (Software as a Service), and real estate. New York is also where global leaders in urban sustainability are present, and the city is seeing a push toward decarbonizing its building stock. New York’s diversity and economic dynamism make it an attractive destination for Swiss companies exploring and expanding into the US market. 

The Swissnex outpost in New York offers individualized and tailor-made programs on an ongoing basis, with specialized cohorts from time to time. For more details, write to Josephine Erni at josephine.erni@swissnex.org.

San Francisco: San Francisco and nearby Silicon Valley belong to the most active innovation ecosystems in the world. They host a population open to experiments and novelties and a community that generally believes in tech for the good. Their vast enterprise tech, cybersecurity, and SaaS market is at the epicenter of global AI developments. With an enormous corporate presence and home to offices of some of the world’s biggest tech companies, such as Google, Apple, Meta, Netflix, Uber, OpenAI, and LinkedIn, San Francisco’s highly competitive characteristics counterbalance the light regulatory environment. Despite the general investment slump in 2023, California-based startups are projected to secure nearly 54 billion USD in investments in 2024, accounting for 51% of the total funding market in the US. In this general context, the Swissnex team in San Francisco has taken the chance to explore the entire West Coast to leverage California as the US’s economic powerhouse with the fifth largest global GDP, offering Swiss startups an opportunity to explore the Los Angeles market, too. In 2024, the three priority topics for Swissnex in San Francisco are health, climate and sustainability, as well as artificial intelligence and digital trust.

The Innosuisse internationalization camps in San Francisco are mainly industry-specific cohorts throughout the year. Swissnex in San Francisco is currently accepting applications for the upcoming two-week Digital Trust + AI Startup Bootcamp, which will take place in September. Email Sharon Ambrosio at sharon.ambrosio@swissnex.org for more information.     

India: India is poised to become the world’s third-largest economy by 2030, with a projected GDP of 7.3 trillion USD. This growth trajectory positions the country as a hub of vast market potential and diversity, particularly in sectors like technology, healthcare, renewable energy, agritech, and fintech. Cities such as Bangalore, Hyderabad, and Pune serve as prominent centers for innovation and technology, boasting access to specialized talent and fostering a conducive environment for growth. With booming expenditure on private and public healthcare, there have been successful collaborations with Swiss startups, indicative of a burgeoning partnership trend within the industry. With a growing economy, digital trust is also a priority to build a resilient and secure digital ecosystem that benefits all stakeholders. With these trends, in 2024, Swissnex in India’s focus areas include health tech, space tech, digital trust, and assistive technology, aligning with the evolving landscape of innovation and entrepreneurship in Switzerland and India.

The team in India ensures that every Innosuisse internationalization camp is tailored to the startup’s specific requirements in terms of time and connections so that the startup can gain the most from the camp and the country. Write to Deepika Prithviraj at deepika.prithviraj@swissnex.org for more details.

Brazil: Significant growth in Brazil’s middle-class population in recent years has led to increased consumer spending, and the Brazilian population is known to be an early adopter of new technologies. Rising internet penetration and smartphone usage have propelled e-commerce growth. With increasing urbanization and a solid consumer base, Brazil is an attractive market for B2B companies seeking growth and new business partnerships in the manufacturing, agriculture, and energy sectors. An evolving intellectual property (IP) landscape and regulatory and innovation legal framework improvement can prove advantageous to Swiss startups. Other reasons to consider Brazil are its strong open innovation ecosystem with CVCs (corporate venture capital) representing 60% of the total investment volume in 2023, a diverse consumer base, untapped niche markets, and scalable opportunities from Brazil to Latin America.

Startup camps in Brazil are generally individualized and tailor-made in a flexible model. Besides the Innosuisse internationalization camps, Swissnex in Brazil is currently offering a specialized opportunity together with partners through nexBio Amazônia, a program that brings together Swiss and Brazilian startups to work in areas of the Amazon bioeconomy. Get in touch with Vincent Neumann at vincent.neumann@swissnex.org for more information.     

China: China’s sheer size serves as a testing ground for new ideas, and its supply-chain potency fuels global innovation. China is home to the world’s largest and fastest-growing middle-income group, and their consumption contributes more than 65% to the economic growth. Despite the post-COVID economic slowdown, China’s 1.4 billion consumers and 1.5 trillion USD expected retail sales growth still make it a lucrative market for those ready to adapt and evolve. As the world’s second-biggest economy, it provides opportunities for small- and big-scale companies. For young companies, China offers cost-effective advantages to achieve fast prototypes, rapid consumer feedback, and the potential to grow exponentially. A favorable and upgrading regulatory ecosystem, incentive policies from all government levels, infrastructure and financial support, and an improving IP environment can benefit Swiss startups. 

In China, the startup camps are generally sector-agnostic and are offered on a one-on-one basis. In addition to the Innosuisse internationalization camps, Swissnex in China is accepting applications for Hardware Horizons as a dedicated program to strengthen Swiss startups’ strategic decisions on hardware sourcing, manufacturing, and supply chain management. For more information, email Felicia Yue Wang at yue.wang@swissnex.org.    

Japan: As the world’s third-largest economy, Japan boasts a stable and mature market with established corporate giants like Nintendo, Sony, Fujitsu, and Cannon, known for their long-standing commitment to cutting-edge technology. These cash-rich companies, recognizing the need for continued innovation, are actively searching to engage increasingly with startups, trying to foster an open ecosystem. The Japanese government’s active involvement, along with leading players in the VC field, make it an attractive market. Japan’s unique blend of economic stability, corporate partnerships, and a quality-conscious market makes it a worthy option for like-minded startups that value quality and craftsmanship. The absolute must-have for a startup success in Japan is an on-site physical presence with either distributors, local business developers, or on-site offices. This is of utmost importance as the business culture and decision-making process cannot be managed at a distance and very often pose significant challenges for those unfamiliar with it. 

The startup camps in Japan are individualized for each startup. Get in touch with Carlos-Felipe Correa at carlos.correa@swissnex.org for more details.

United Kingdom: Due to its early adoption of technology and a business-friendly regulatory environment, the UK is often the first stop for any European company wanting to expand internationally. Many of the world’s big corporates are headquartered in the UK, with innovation teams willing to meet promising startups. The geographical proximity between the UK and Switzerland is ideal for any Swiss startup looking to validate their products/services quickly without deploying too many resources. Although there are opportunities in all industries, the UK excels in healthcare, energy, financial services, and manufacturing. Establishing a UK subsidiary will take a few hours and minimal funds, demonstrating the nation’s risk-tolerant corporate culture. The UK is also known as the hub of the European venture market, accounting for 40% of the venture capital on the continent. Leading international funds choose London as their European base, making the UK the third tech ecosystem globally. 

The UK startup camps are tailor-made with individualized programs for each startup in a flexible model. Email Charlotte Chenu at charlotte-mathilde.chenu@eda.admin.ch for more information.

South Korea: A tech-savvy and metropolitan-centered economy, ethnically and culturally homogenous consumer market, and high literacy rate make South Korea ideal for Swiss startups to penetrate. It is also one of the most digitally connected countries with top-class IT infrastructure. South Korea is the fourth-largest economy in Asia and the tenth-largest in the world. Powerful industries include mobile, semiconductor, automotive, beauty, fashion, and entertainment. The country also boasts of well-trained manufacturing power in a variety of sectors. Samsung, Hyundai, and LG are popular South Korean companies known all over the world.

Like in the UK, the startup camps in South Korea are individualized for each startup. For details, write to Laura Acosta at laura-priscilla.acosta@eda.admin.ch or Minyong Lee at minyong.lee@eda.admin.ch.

Israel: More than 500 research and development centers of multinational companies are present in Israel. In most industries, Israelis are more open to innovation than other countries. Notably, identifying early adopters in the health tech sector within Israel may prove more accessible than in other locations. Israel has also established open innovation divisions in agritech and food tech sectors. Engaging in collaborations with Israeli enterprises offers the possibility of early and sincere customer feedback and fosters a network that can attract a broader customer base, both within Israel and internationally.

The Innosuisse powered Swiss-Israel Lean Launchpad program offers startups a close-up of the inner workings of the Israeli startup nation. Due to the current security situation in Israel, this program is temporarily suspended until further notice. Get in touch with Noga Ehrlich at noga.ehrlich@eda.admin.ch for more information.