An Overview of Switzerland’s thriving technology market

Posting date: 01 December 2020

Switzerland has long been a world leader in innovation and technology. Ranked as the most innovative country in the world by the Global Innovation Index, the country remains at the forefront of science and technological research. Switzerland has always been quick to utilize new technologies to create robust innovation across a range of industries, from the financial services to healthcare and life sciences.

 

Over the years, Switzerland has gained a reputation for being the centre for research around artificial intelligence. Indeed, the country currently holds the most AI patents in the European health care industry. And as Switzerland continue to invest in new technologies, we can expect smarter applications to appear across all industries. With all this in mind, let’s take a look at Switzerland’s thriving technology market in more detail.

 

Switzerland’s tech hubs

In Switzerland, fintech is a key driver of innovation throughout the country, paving the way for several tech hubs. For example, the Swiss city of Zug, not too far from Zurich, is home to bitcoin and blockchain start-ups. Blockchain technology is used in a wide range of industries, including insurance and logistics. The city has become so synonymous with the tech movement that it earned the nickname “Crypto Valley” – and it’s the fastest growing technology hub in Europe. In a 2018 report, it was shown that the city grew by 177% in the number of tech-related events. Since then, Crypto Valley has continued to thrive, even in the face of uncertainty around the COVID-19 pandemic. With its ever-expanding pool of developers and software companies, Switzerland has become a tech hub paradise. Other cities like Lausanne have very successful technology companies, with a focus on AI, health tech and energy.

 

Tech start-ups

Since 1996, the number of start-ups in Switzerland has increased by 700%, with Zurich taking up most of the share. It’s important to know that Switzerland is one of the most expensive places to start a business, due to high living costs. Despite this, Switzerland has still managed to become one of the go-to countries for starting a technology company. Some of the most notable tech start-ups in recent years include Bestmile, a software company that provides autonomous vehicles, and they have offices in San Francisco and London. In 2019, it was named one of the top five best Swiss start-ups in an annual competition. Further afield in the Swiss start-up world is Flyability. Founded in 2014, the company build drones that can be used indoors to check for security and safety and dangerous spaces. The company raised 16m in total to build the drones, which promise to provide fully autonomous inspection. Flyability is focused on reducing risk for workers in confined spaces, and for the environment itself.

 

Key trends

Several key technology trends are making waves in Switzerland. Wearable technology, for example, is having a huge impact on the Swiss insurance industry. It has the potential to help companies better understand their customers with the use of data, and as a result, manage risk and improve processes. Other trends like big data and robotics are big players and have been gaining momentum in recent years, especially in the Swiss healthcare sector. These technologies have the potential to tackle a variety of challenges in healthcare, as outlined in the digital opportunity report by the University of St. Gellen. More data and optimisation can lead to better decision-making in healthcare and create more trust for patients. There’s no doubt Switzerland has developed into an innovative hub for all kinds of technology, all of which continue to fuel the economy at a rapid rate.

 

Are you looking for your next opportunity in technology?

At Swisslinx, we have a deep understanding of the digital and technology industry. It’s a sector that continues to evolve, with innovations coming out daily. Our team of consultants are always up to date with the latest trends in the tech market, and they use their knowledge to support candidates. If you’re looking to land your next role in technology, take a look at our job page for more information.

How to future-proof your business in the age of digital disruption

In business, change is essential for improvement. We are currently undergoing a major digital transformation that is impacting the way we recruit, onboard and retain new employees. Even before the pandemic, technological innovations were changing the way people work and the skills needed to do different jobs. Therefore, disruption has become the new normal for modern businesses.    Companies now must develop new strategies and adapt to the changing environment to remain in a strong market position. As technology evolves, it will be all the more important for businesses to ensure they’re still relevant and competitive. That’s why the implementation of changes across organisations is key. So, here’s an overview of how to future-proof your business.    Nurture a digital-first mindset With digital technology now ruling the economy, businesses of all sizes strive to develop a digital-first mindset. This means using technology to create structures and processes that support digital optimisation, as well as adopting a flexible, growth-mindset that is always ready to innovate. There are several ways companies can instil a digital-first mindset. This includes providing collaboration tools to support teams regardless of location and creating a recruitment process that focuses on finding people who are digitally-savvy, and who can swiftly adapt to the changing needs of your organisation. Switzerland’s technology market is currently in a great position, which means companies must seize the opportunities of increasing innovation to ensure growth in the long-term.   Invest in upskilling your workforce If you want to make sure your company continues to thrive in the future, you need to make upskilling your workforce a priority. The nature of jobs are shifting at a rapid rate, with every company being affected by digital innovations and as a result, employee expectations are changing. The best professionals understand they need to be continually developing their skills. As we move forward, companies will need to offer more training and development opportunities, so their employees have the digital skills needed to keep up with the demands, especially as we emerge from the coronavirus pandemic.   Digital transformation is not limited to the structure of the organisation; it’s also about future-proofing your employees so they feel happier in their roles and can grow alongside your company. The next generation of workers will need to understand how to use big data and how AI can help workflows, and complete tasks more efficiently. According to a study by Dell Technologies, more than half of respondents said they believed that workers of the future will disrupt the workforce with new, innovative skills.   Create an agile business Today, the importance of creating an agile business has never been more important. Leaders need to find ways to increase the efficiency of organisations and make sure their businesses are continually responsive to change. As digital technology evolves, companies will need to work faster and harder to keep up with the competition. Dynamic organisations understand how to respond efficiently to new challenges and opportunities while cultivating a sense of stability at the same time. By taking an agile approach, you’ll be able to take advantage of new technologies more easily. One of the best ways to ensure your company has an agile mindset is to listen to your customers and always plan for the unexpected. From quarterly reviews to budget plans, leaders need to make sure every part of their business is flexible and has the potential to innovate. In a time of digital disruption, creating a more agile business will help increase adaptability, employee engagement, and company culture.   Are you looking to recruit? There’s a range of ways your business can future-proof itself to boost productivity in this digital transformation. Providing ongoing training to your current workforce and recruiting the right professionals that fit your culture is essential. At Swisslinx, we offer recruitment expertise to clients within finance, digital and technology, as well as the technical services. We support our clients at every stage of the hiring process. Swisslinx serves as a partner in talent strategy, helping companies make the best recruitment decisions to drive their organisations forward. Contact us today if you’re looking to recruit and take a look at our insights page for more career-based blog articles.

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Charity Announcement – Food for everyone - Pastor Sieber/Essen für Alle

Swisslinx is delighted to announce that instead of hosting Christmas events this year, we are supporting a Zurich-based initiative called Food for Everyone. We have donated 20’000 CHF to this organisation, founded by Amine Diare Conde, who recognised the need to support the most vulnerable people affected by the COVID crisis. The charity received publicity in recent months for its valuable contribution, and our donation has been provisioned specifically to support the distribution of food to those in need due to financial constraints caused by the pandemic and will enable it to continue operating longer into 2021.   The organisation Pastor Sieber is leading the Food for Everyone project by distributing basic food and hygiene to those in need. Since 1988, Pastor Seiber has worked tirelessly to help disadvantaged people. The charity focuses on those who’ve experienced hardship and gives long-term care to people in a crisis. Pastor Sieber offers a range of support and facilities, including safe places to sleep for the homeless, social counselling and food banks. People who are struggling to find shelter and food can expect to receive pastoral care and find a temporary home with the charity.    We chose this charity as it is founded on strong values and ethics, which includes helping people in need, regardless of their background, religion or social status. Pastor Sieber relies on donations to support people who are struggling, especially right now. The Food for Everyone initiative has the power to change the lives of many people. That’s why the team at Swisslinx decided it was time to offer a helping hand to ensure the charity can continue to provide care during these challenging times.     If you would like to contribute, then visit Food for Everyone’s and Pastor Sieber’s donation pages where you’ll be able to commit yourself to a fantastic cause.

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