Swiss start-ups struggle for financing

Switzerland may be highly innovative, but getting funding for start-ups is tough and many are going abroad for venture capital. (RTS/swissinfo.ch) 

According to an annual European Union survey, Switzerland continuously outperforms all EU member states in the field of innovation. 

The Swiss State Secretariat for Education, Research and Innovation says it’s also among the countries with the highest spending on research and development in relation to its gross domestic product. 

The private sector bears the cost of over two-thirds of Swiss R&D expenditure, which currently amounts to nearly 3% of gross domestic product, or around CHF16 billion. 

But when it comes to marketing the products developed, start-ups struggle to finance their launch.

The Swiss Federal Institute of Technology in Lausanne, has spawned many start-ups, such as Lausanne-based biotech companies Spinomix and Biocartis.

But Biocartis had to seek financing in Belgium and Spinomix is also looking abroad to commercially develop its products.