You know deeptech has gone mainstream when UBS is leaning hard into it. 🤷🏼♂️ It's difficult to make anything of this 'Deep Tech Nation Switzerland Foundation' as of now, other than the name is quite the mouthful. It's a foundation that 'will not launch its own funds', but 'the financial contributions of the partners flow into the foundation's assets, which are invested in the various programs to change the framework conditions in Switzerland in the long term and strengthen Switzerland's competitiveness in the global innovation race.' 🤔 Honestly, the corporates involved should just focus on being LPs. That's what Swiss (and all European) deeptech needs more of: European LPs investing in European deeptech VCs...who then invest in European deeptech startups and scaleups. Europeans love creating big, convoluted organisations doing bureaucratic things, even when it's not directly part of government. A word of advice to the Swiss: keep it simple. When you do involve more people though, make sure they actual know deeptech, have built deeptech companies, and/or have a track record of investing in deeptech companies. And involve international profiles. The Swiss ecosystem is waaaay too insular. It's a major handicap. Also, it looks like they took a page from the EIC fund's marketing and comms team and lifted the term 'unicorn factory' from them. Another word of advice to the Swissies: don't copy the EIC, especially not their marketing and comms. https://deeptechnation.ch/ https://lnkd.in/eT7VHG_d 🇨🇭🐄 🏔 ⌚️ 🫕 🧀 🍫 #vc #venturecapital #startups #entrepreneurs #entrepreneurship #tech #technology #innovation #deeptech #money #business
Perhaps those whom behind this nicely packaged announcement shall clarify what they mean by "deeptech" !?
Magnus Lysfjord
1mo
I’m glad the focus is on deeptech but they still need a holistic strategy to ensure they invest in the right things. But using VCs to do that, is not the only way.
"Deep Tech", I'll never cease to be amazed at the VC marketing power
I thought exactly the same when I saw this. Now just waiting for McKinsey & Company's report on it 🙃🤖
Exciting news at the right moment, congrats to all who started and contributed so far to this encouraging initiative. Really looking forward to a great future… Switzerland has so much potential - currently we only capture a part of the value creation opportunity. I trust we can together exploit various avenues with the goal to establish Switzerland as a leading hub for world class deep tech startups, founders, innovators and also leading investors from Switzerland and abroad. We shall need more cornerstone and lead investors who bring an entrepreneurial approach and mindset to the table. Let us create the long-term and sustainable capital source which can also establish Venture Capital as an Asset class. Let us keep the momentum and the spirit.
Julien Pache
1mo
100%, nailed it.
Thomas Petersen
1mo
This is dead on arrival. Not because there aren't many smart amazing people in Europe who could build amazing things given the freedom and support. But simply because European regulation will kill any idea that is even remotely dangerous or risky or doesn't adhere to ESG principles. Europe have become so riskaverse that it can't even produce it's own weapons because they might emit too much CO2.
Ulrik Deichsel
1mo
breaking news: VC thinks VCs should get more money.
Wen Lambo is the real question
CEO @ Swisscom | Leadership, Digital Transformation, AI, ICT
1moMichael Jackson, thanks for your post! The foundation will be small and nimble and will focus on important policy topics to improve investment conditions for LPs. Unfortunately this is a necessary step to attract more capital for deep tech start-ups. We will act in good Swiss style - pragmatic and simple. Nothing to do with convoluted european initiatives. Happy to give you more insight into what we are actually doing and why we believe it is essential. btw. we are already one of the largest LP in the Swiss Venture ecosystem with Swisscom Ventures :)