Technology Fund and Swiss startups fight greenhouse emissions

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17.01.2017
Emission

Technology Fund announces that it closed 2016 successfully with 26 loan Guarantees granted to startups and SMEs developing technologies for the reduction of greenhouse emissions. The organisation will continue to focus its efforts and energy on making 2017 a success too.

Every Year Technology Fond, a political instrument of the Swiss government's climate strategy, issues loan guarantees to startups whose novel products contribute to a sustainable reduction in greenhouse gas emissions. As such, the core of their objective is to support and boost such startups striving at developing technologies that contribute to the improvement of the environment. The technologies ought to focus on sustainability through promotion of renewable energy sources and conservation of natural resources.

CHF 30 million to promote renewable energy
Technology Funds has succeeded in reaching such startups and has extended its support to them by issuing loan guarantees. As of end-December 2016, 26 loan guarantees in the total amount of almost CHF 30 million were granted.

The steadily increasing number of applications is an indicator for the satisfying development of the Technology Fund in 2016 as Simone Riedel, Managing Director of the Technology Fund, explains: “The diversity of applications for receiving a loan guarantee is impressive. The range of business models we analyse day by day covers all kinds of sectors. Innovations in vegetable cultivation, building management, sensor technology or IT software represent the colourful sample of applications. Even if the business models are very diverse, they all have one thing in common: The development of an innovative product or service, which saves resources to directly or indirectly reduce carbon emissions.”

Since the Technology Fund does not finance companies directly, it provides loan guarantees to banks or other suitable lenders. The lenders' contractor is the Swiss Confederation, represented by the Federal Office for the Environment FOEN. In 2016, the Technology Fund started to work with 5 additional lenders.

In addition the their achievements, Technology Fund published around 20 media articles and met potential applicants at about 15 events all across Switzerland.

Technology Fund will continue offering its support in 2017 and calls for applications. Innovative SMEs, which are developing and marketing climate friendly technologies, can apply for a loan guarantee of up to CHF 3 million from the Technology Fund. The application form is available online at www.technologyfund.ch/preliminary-check.

(ran)

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