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UBS and Swisscom want to mobilize 50 billion francs

UBS and Swisscom want to mobilize 50 billion francs

In the future, Switzerland should be able to make a name for itself as the world's leading country in deep technology. UBS and Swisscom are raising billions for this purpose, and hope to create up to 100,000 new jobs over the next few years.

The institution was founded by the large Swiss bank UBS and the telecommunications group Swisscom “Deep Tech Nation Switzerland Foundation” It is committed to improving the framework conditions for Swiss start-ups and start-ups as well as for investors in the deep technology sector. This means that more investment capital will flow to corresponding Swiss companies, as evidenced by a statement issued on Thursday evening.

The term “deep tech” refers to research-intensive technological innovations that solve relevant social problems.

Up to 100,000 new jobs

The goal is to mobilize 50 billion Swiss francs over the next ten years. This aims to boost innovation and competitiveness in Switzerland in the long term, as we learned further.

At the same time, up to 100,000 new jobs are expected to be created indirectly in Switzerland over several years. “Supporting innovation and entrepreneurship in Switzerland is a tradition at UBS. It is very important for us to use this foundation to work towards improving framework conditions,” he said. Sabine Killer BossChairman of UBS Switzerland.

Switzerland has been lagging behind so far

Today in Switzerland, just under 3 billion francs goes to growth financing for start-ups and start-ups (companies in the growth stage). Leading innovation countries similar to Switzerland invest much more: for example, Sweden at least 5 billion francs per year, and in Israel more than 10 billion francs per year are regularly invested.

“Innovative technologies and entrepreneurship enhance Switzerland’s competitiveness,” he said. Christoph Aeschlimann, CEO of Swisscom. “The Deep Tech Nation Switzerland Foundation is needed so that great ideas can be turned into successful solutions with more venture capital.”

More partners on board

Deep Tech Nation Switzerland is an independent non-profit foundation founded by Swisscom and UBS in May 2024. Other partners such as Stadler Rail, SIX, Vaudoise Insurance, Rolex, Swiss Re, SICPA and the University of Zurich have already joined the foundation.

The goal is to gain more partners by the end of 2024. Deep Tech Nation Switzerland will not launch its own funds. Financial contributions from partners flow into the foundation's assets, which are invested in various programs in order to bring about lasting positive changes in overall conditions in Switzerland.