Hard work and technology

Dear reader

Ironwood Pharmaceuticals plans to pay well over USD 1 billion for VectivBio. The Basel-based biotech company was founded in 2019 and went public on the Nasdaq in 2021. The price could not escape the general downward trend in the industry, but now Ironwood is offering a purchase price that is 80% higher than the recent average share price. Ironwood believes that VectivBio’s lead candidate has a sales potential of USD 1 billion.

At Startup Days, which took place this week in Bern, young founders regularly ask successful entrepreneurs how they did it. Usually the answer is good technology and hard work. In other words, there is no magic formula or shortcut to entrepreneurial success. This is particularly true in the current situation with cautious investors. In the many conversations that Ritah Nyakato and I had in Bern, founders reported on the difficult search for money and the bridging financing necessary.

The second topic that shaped Startups Days was the low number of women in the start-up scene. Again, it will take hard work to move forward, but even so three of the eight finalists in the Pitching Battle were female entrepreneurs. Read about the event’s other activities and who won the pitching competition in our article.

Although financing is difficult and there is much catching up to do when it comes to female entrepreneurship, the situation in terms of technology is excellent. The 18 start-ups that made it into the last round of ≫venture≫ provide proof, as do the companies recently supported by ESA BIC Switzerland, the Swiss finalists of the Tech4Trust program and the 32 Swiss participants in this year’s MassChallenge Switzerland accelerator programme.

The MassChallenge cohort also shows that the trend towards sustainability is continuing. Start-ups in this area not only convince juries, but also attract large corporations. Enerdrape has just closed its first major project with Coop Immobilien in Renens, JPMorgan Chase has signed a USD 20 million deal with Climeworks, and Saudi Aramco has selected Daphne Technologies to further develop and commercialise its carbon capture technology.

The next major event take place in two weeks, with the Swiss Economic Forum and the SEF.Founder Conference, which are held in parallel. In recent years, the conference has developed into a meeting place for scale-ups and very ambitious start-ups. The organisers have reserved two free tickets for our readers – find out how start-ups can apply in our calendar entry.

In the same week, a major event by startup baselland in Muttenz aims to provide founders with the necessary tools to set up a company. Showcase 2030 for sustainable innovation will take place next week in Lausanne.

The application deadlines for awards that should not be missed close between 11 and 16 June, including Swisscom Startup Challenge, Venture Leaders Medtech, Venture Leaders Cleantech and the Boldbrain Startup Challenge.

Have a good weekend
Stefan Kyora

Editor in Chief, Startupticker.ch