Policy Incentives for Innovation
Increasing the number of FinTechs in Switzerland
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Switzerland leads the ratings for the seventh consecutive year as being the most innovative country but remains on one of the mid-lower ranking spots compared to its peers when it comes to entrepreneurial activity. The difference in the two ratings raises the question: Do existing Swiss government innovation strategies match the policy-demand of startups? The hypothesis is that the current policy-supply strategy by the Swiss government to increase innovation does not meet the policy-demand of entrepreneurs. The thesis constructs a framework, based on the Entrepreneurial Ecosystem by Vogel (201...
Switzerland leads the ratings for the seventh consecutive year as being the most innovative country but remains on one of the mid-lower ranking spots compared to its peers when it comes to entrepreneurial activity. The difference in the two ratings raises the question: Do existing Swiss government innovation strategies match the policy-demand of startups? The hypothesis is that the current policy-supply strategy by the Swiss government to increase innovation does not meet the policy-demand of entrepreneurs. The thesis constructs a framework, based on the Entrepreneurial Ecosystem by Vogel (2013), aligning it with concepts from behavioral sciences, to answer the question and address the hypothesis. A survey was circulated among Swiss Fintech entrepreneurs from September 2017 to end of October, with more than 80 responses. The analysis reveals that the federal government needs to address a number of elements. Particularly problematic in Switzerland is the cost of living, the tolerance of failure and risk, and the immigration as well as labor laws. For all of these elements, there is a demand to support entrepreneurs.
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