FONGIT is Switzerland’s premier innovation hub. We specialize in deep tech, high impact innovation. Fongit currently supports over 150 startups and projects in Geneva.
FONGIT announces the creation of the Innovation Fund in collaboration with the State of Geneva. This new financing fund is intended to support technological innovation projects serving sustainable development (SDGs) in the initial innovation phase. With an initial amount of around five million francs, over the period from 2021 to 2023, it aims to promote the acceleration of innovation processes in the economy and will contribute to economic recovery during this period of recession.
Integrated within FONGIT, the FIF is a new financing tool which will support technological innovation projects, in particular those from Geneva universities and research centers such as CERN, as well as innovative companies in creation (start -up) and small and medium-sized businesses (scale-ups and SMEs) registered in the Geneva commercial register. The current insufficiency of funds available to respond to the innovation dynamic is proven, in particular to finance the initial seed phase. The competitiveness of local businesses, their attractiveness for private investors and ultimately the creation of sustainable businesses and jobs will be strengthened.
A similar model, the Foundation for Innovation (FIT), was implemented by the canton of Vaud and has provided excellent results since its creation.
Video summarizes the 30 years anniversary event of Fongit
Source: FONGIT
https://www.fongit.ch/