Deep Tech Nation CEO in Le Temps: “If We Want Economic Giants, We Must Wake Up”

Our CEO, Joanne Sieber, recently sat down with the influential Swiss newspaper Le Temps to discuss a critical challenge for the nation’s future: financing the growth of our most promising deep tech companies. The interview sheds light on why Switzerland, a world champion in innovation, must now focus on the commercialization of that innovation to create the economic giants of tomorrow.

In an in-depth interview before taking the stage at Le Temps’ Prix SUD 2025, Joanne Sieber laid out the central paradox facing the Swiss innovation ecosystem. While the nation invests heavily in world-class research, development, and education, creating a fertile ground for startups, a crucial gap appears when these companies are ready to scale. “If a start-up wants to really grow, the necessary infrastructure for the large, later financing rounds is no longer there,” Sieber noted.

This forces many of our most promising ventures to seek capital abroad. While this secures their immediate future, it comes at a long-term cost for Switzerland. Foreign shareholders gain significant influence over strategic development, and the value created, including high-quality jobs, is often lost to our economy. “Europe and Switzerland had important market leaders, especially in tech. This is less and less the case, and that has implications,” Sieber stated, emphasizing the urgency of the situation. “It’s something we want to change because it’s crucial for future generations.”

The Untapped Potential of Swiss Institutional Capital

The solution, Sieber explained, lies within our own borders. Swiss pension funds represent a massive, yet largely untapped, source of potential investment. However, several obstacles have historically limited their participation in venture capital. Key challenges identified in discussions with pension funds include:

• Liquidity Concerns: Deep tech investments require patience, often taking a decade or more to generate returns, which can conflict with the need for regular, predictable yields to pay annuitants.
• Unsuitable Fund Structures: The typical venture capital fund is often too small, with management costs that are high compared to other asset classes.
• Knowledge Gaps: A lack of familiarity with this type of investment remains a significant barrier for foundation board members and asset management experts.

A New Approach to Unlocking Growth

Deep Tech Nation is actively working to dismantle these barriers. “We are trying to really dialogue with the actors of the ecosystem to understand what is wrong and to find suitable solutions,” Sieber affirmed.

A concrete example of this is our collaboration with the Winterthur Investment Foundation (Anlagestiftung Winterthur) to create a dedicated deep tech fund tailored to the needs of pension funds. By helping to set the criteria for selecting an asset manager, we are paving the way for a new model of institutional investment in Swiss innovation. Creating large, diversified funds managed by experts is essential to mitigating risk. “I understand very well that a pension fund does not want to invest directly in a single start-up,” Sieber said, explaining that a fund structure allows for diversification across companies, geographies, and growth stages.

A Call for a New Mindset

The interview concluded with a powerful call to action. While organic growth has its place, venture capital is the proven engine for creating global market leaders. “Today, six of the ten largest global market capitalizations were financed by venture capital. I think that should make us think,” Sieber argued.

For 14 years, Switzerland has been ranked as a global leader in innovation. To maintain our prosperity and technological independence, we must now master the next step: the commercialization of this innovation. “If we want to be independent of foreign solutions in the future… we have to wake up,” Sieber urged. “And venture capital is certainly the best solution for this type of company.”

As a first encouraging sign, Sieber hopes to see venture capital investments begin to rise again in 2025, following a recent decline from their 2022 peak. Deep Tech Nation, with its influential foundation board and growing council of experts, is committed to making this vision a reality. Our mission is clear: to ensure more Swiss capital is invested in advanced-stage Swiss companies, securing our nation’s place as a true economic powerhouse.

Read the full article in French by Etienne Meyer-Vacherand and Aline Bassin, in Le Temps.