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.