In a significant step towards strengthening the Swiss startup ecosystem, we are proud to announce the participation of SICTIC as a Network Partner in the 3rd edition of the Boost My Startup Challenge. We had the opportunity to sit down with Marcel Egger, SICTIC board member, to discuss the importance of this collaboration and its impact on the Swiss startup community.
Can you provide insights into SICTIC’s essential activities for startups and investors in the Swiss startup ecosystem?
SICTIC is a non-profit association connecting early-stage Swiss startups with smart money investors. SICTIC has the largest and most active business angel network in Switzerland, with more than 500 active members, and organizes the deal flow and matchmaking of startups and investors online and at in-person pitching events.
SICTIC was awarded “Fintech Influencer of the Year 2023” for its long-time contribution to the innovative and dynamic Swiss startup ecosystem.
Can you tell us about SICTIC’s role as a Network Partner in the Boost My Startup Challenge?
As a Network Partner, SICTIC is delighted to contribute to this excellent initiative by growing the connection to the network of early-stage investors and leveraging on the experience in evaluating early-stage startups.
This collaboration will open up numerous opportunities for everyone involved, enabling networking with leading business angels and SICTIC’s annual partners.
Could you highlight some of SICTIC’s achievements and its impact on the Swiss startup ecosystem?
Over the years, SICTIC has made significant contributions to the Swiss startup ecosystem. Facilitating more than 106 investment rounds in 2022 alone and supporting over 254 startups in raising capital since its inception, SICTIC has become a driving force in early-stage funding. The recently released SICTIC Investment Report 2023 underscores our impact, covering a vast majority, 69%, of all early-stage funding rounds in Swiss ICT startups.
What is SICTIC’s vision for the future of the Swiss startup ecosystem?
SICTIC envisions a future where open innovation thrives, and startups receive the necessary support to succeed. By playing a pivotal role as a Network Partner in initiatives like the Boost My Startup Challenge, we aim to nurture innovation, drive investment, and position Switzerland as a global hub for entrepreneurship and technological advancement.
Can you share your view on the current status of early stage investments in Switzerland ?
The SICTIC angel network saw six exits of portfolio companies so far in 2023, and roughly 50 funding rounds taking place. The Swiss early-stage market saw 109 rounds in H1’2023, raising a total of CHF 340 mio, with energy and cleanteach startups leading the ranks.
Rounds between CHF 0.5-2 mio have continued to spur across the country with investor appetite pointing to more to come in the second half despite clues of a global cooldown in total invested dollars. Indeed, Swiss early-stage investors have lowered ticket sizes in aggregate, and strengthened their due diligence processes this year, but their activity speaks for itself: a continued support for Swiss technology startups.