Swiss Economic Award open for applications

There are many young companies in Switzerland: every day, around 30 new companies are established, and this figure is increasing. This is a pleasing development as new business talent shores up our future prosperity. Less positive is the fact that many young companies don't act sustainably. Just one year after their being founded, the success rate stands at 80 percent. After five years, only half of these companies are still economically active. These figures reveal a problem: many young companies have innovative ideas, but they lack a business model which remains profitable over the long term.

The prize: a comprehensive support package
It's here that the Swiss Economic Forum comes in, promoting entrepreneurship and encouraging new business talent in Switzerland. To this end, the Swiss Economic Award was created in 1999. Each year, it is presented in recognition of exceptional entrepreneurship in the fields of "Services", "High-tech / Biotech" and "Production/Trade & Industry". The renowned jury, which has been chaired since summer by Monika Ribar, rewards companies which stand out in their sectors with innovation and creativity and which reveal great future potential. The award ceremony is not only about fame and honour, but also about long-term and sustainable support for young companies. As well as prize money of CHF 25,000, each winner receives a comprehensive and customised package of support from the Swiss Economic Forum and its partners. Young companies are given support in those areas in which newly established companies often struggle: in financing, marketing and distribution as well as in networking. "The national media presence was incredibly important for our brand image," Philip Bucher, CEO of Doppelleu, explains some months after winning the Swiss Economic Award in 2016. Alongside Doppelleu Brauwerkstatt AG, awards were also presented to Bcomp AG and The Nail Company Sàrl. They too stress the great benefits of the award, which is esteemed throughout Switzerland and which has allowed them access to a unique network of contacts and raised awareness of their young companies.

New: Pitch competition at a campus day
The judging process for this popular young entrepreneur competition has been amended slightly. The assessment stages – initial selection, preliminary jury session, expert assessment and main jury – will now be supplemented by a campus day. On 6 April 2017, the 18 best young companies will compete against each other before the public, media and a group of experts and will have the opportunity to present their companies in a pitch. Subsequently, experts together with other selected persons will evaluate the companies and choose the 9 award finalists. "The campus day provides an attractive platform through which the exceptional talent of young entrepreneurs can be additionally rewarded," Jury President Monika Ribar explains, who assumed the position in summer 2016 from Carolina Müller-Möhl. As before, the finalists are then able to present themselves on the big SEF stage to 1,350 Swiss business leaders in Interlaken. The award ceremony will take place on 2 June 2017.

2,050 new jobs
Since the launch of the Swiss Economic Award, a whole range of young companies have applied for the popular award. From these applicants, the expert and experienced jury selected the winners in a three-stage SQS-certified evaluation and assessment process. That the award achieves its objective is emphasized by the impressive figures: of the 41 companies that have won the prize since its launch in 1999, the success rate stands at 97 percent. Together, the winners have created more than 2,050 jobs and generate sales of over CHF 2 billion per year.

Registration platform is open
This year's award ceremony will take place on 2 June 2017 in Interlaken. Any interested start-up company based in Switzerland and established after 1 January 2011 is eligible to take part. The short application can be completed in just ten minutes. The online platform for applications is open until 31 January 2017.

Further information and online application at: https://www.swisseconomic.ch/en