Focus Sectors
Climate Tech
Why Switzerland for climate tech
Environmentally friendly technology is on the rise worldwide, but what differentiates Switzerland is its focus on deeptech innovations.
According to the Swiss Federal Institute of Intellectual Property, about 13,000 patents in the cleantech sector are Swiss inventions. The patents come primarily from four areas: reduction of greenhouse gases, sustainable products and production methods, advanced manufacturing and sustainable road transport.
The particularly strong technological expertise is also evident in the startups. A total of about 600 startups have been founded since 2010, and currently about 50 new companies are added every year. According to the Swiss Cleantech Report, about half of these companies are spin-offs from prestigious Swiss universities or research institutions. They are very broadly positioned in terms of technology; several startups with promising deeptech innovations can be found in practically every business sector.
Data-based insights
Scaleup wave ahead
The Swiss cleantech scene is much younger than the biotech or ICT ecosystem. It was not until 2017 that rapid growth began, preceded by the Paris Climate Agreement and a new energy law in Switzerland. In addition, support for innovative companies in the cleantech sector was strengthened.
The result was a doubling of the number of new companies founded each year and a steep increase in investments. In the last five years, USD 2.5 billion of venture capital has gone into Swiss startups, compared with just over USD 250 million in the previous five-year period. The number of financing rounds has also increased year on year, rising to 70 in 2024.
The short history of the sector means that on average startups are still young, but they are well advanced in product development. According to the Swiss Cleantech Report, half already have proven products. Investors looking for companies that are ready for scaleup can now fully benefit from the rising wave of young companies founded after 2017.
Close ties to the US
The largest Swiss venture capital financing round of all time was secured by a cleantech company: Zurich startup Climeworks, a pioneer in direct air capture and storage (DAC+S) technology, received USD 650 million in 2022. The following year, it caused something of a stir with its successful expansion into the US. Participation in the US government’s Regional Direct Air Capture Hubs programme played a central role in this.
Energy Vault, which has developed a large-scale system – EVx – to store energy using gravity, is another Swiss company that been able to raise several hundred million dollars from investors. EVx was included in TIME’s Best Inventions 2024 list and Energy Vault chose the New York Stock Exchange for its IPO in 2022.
These close ties to the US are not isolated cases: 35% of Swiss cleantech startups describe the US as one of their core target markets and thus it is more important than neighbouring countries such as Italy or Austria. This is in line with with the orientation of the entire Swiss export economy: for several years now, the US has been Switzerland’s most important trading partner in terms of export volume, ahead of Germany.
Support from politics
Switzerland is cautious when it comes to financial support for startups; however, an exception is made for cleantech companies. The Technology Fund, launched in 2014, has had a particularly big impact. It offers loan guarantees to Swiss companies with novel products that contribute to a sustainable reduction in greenhouse gas emissions. The portfolio currently includes 150 innovative Swiss companies, and loan guarantees amounting to USD 300 million give these companies access to attractive bank loans. Further funding for innovative projects is awarded by the Federal Office for the Environment and money also comes from private initiatives, such as the Swiss Climate Foundation.
This support has contributed significantly to the strong increase in startups and investments since 2017, with about USD 1.5 billion invested in the Technology Fund’s portfolio companies alone. Support measures reduce the risks for founders and investors, particularly in the risky and capital-intensive cleantech business, and thus create incentives to start and finance companies.
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