Startups currently being supported by the Swiss Innovation agency Innosuisse will soon have the option to visit Japan or South Korea in order to expand their businesses globally. These initiatives will be supported and facilitated by setting up two new camps this year to address growing demand.
These destinations have been selected because of the high-potential and dynamic Asian markets and the appeal of these jurisdictions, especially for Swiss startups.
These expansion efforts have been announced at a time when “Internationalization Camps” have been increasing steadily during the past few years. Furthermore, expanding the offer of camps to nascent Asian markets is a strategic step that focuses on addressing the demand from startups in the Innosuisse coaching program.
The World Bank forecasts that Asian markets will experience significant growth despite the COVID-19 outbreak and resulting socio-economic uncertainty. As with other camp expansions, the newly launched sites will be introduced as part of a 3-year pilot.
Two years after their launch, they will be carefully assessed, and the Innosuisse Innovation Council will determine if these programs should be continued. Notably, there are currently 12 different camps available, providing these firms the chance to test or even establish their businesses in new markets like London, Rio de Janeiro and New York.
Marcel Hofstetter, Head of the Internationalization Camp Program at Innosuisse, stated:
“There is strong demand from Swiss entrepreneurs for these destinations. In addition, there is a free trade agreement and cooperation in research, education and innovation between these destinations and Switzerland. This makes them ideal markets.”
As covered in March 2021, the Swiss Blockchain Federation has introduced the NTN Innovation Booster, called the Blockchain Nation Switzerland program, which is a 4-year initiative that has been co-funded by the Swiss Innovation Agency and Innosuisse.
The Blockchain Nation initiative will be focused on promoting and supporting blockchain or distributed ledger tech (DLT)-related business. The program will operate systematically and sustainably in order to help local entities adopt blockchain-powered solutions.
Blockchain Nation should provide an opportunity to launch startups and it may create many new jobs as well.
One of the primary goals of this initiative is to connect larger companies and blockchain firms with startups and research teams so they can develop prototypes and innovative business models.