Here are the ten DeepTech startups I met at startup days in Switzerland
The Swiss startup ecosystem experienced a notable downturn in 2023, with venture capital investment falling by 35% compared to the previous year, totaling CHF 2.6 billion. Despite the decrease in investment volume, the number of financing rounds remained relatively stable, increasing slightly from 383 to 397. Biotech and medtech startups saw an increase in investment, with biotech up by 22% to CHF 492 million and medtech recording a record increase of 41% to CHF 379 million.
So, what’s the status quo of the Swiss startup scene? Last Friday, I attended Startup Days, a nationwide business and networking platform for startups, investors, enablers, SMEs and corporates in Switzerland, to meet Swiss startups and learn about the Swiss startup ecosystem. The conference attracted around 1,300 participants, a significant number given Switzerland’s population of 8.776 million (2022).
One of the two most impressive talks were the Youngsters Pitching. Out of more than 120 applications, the expert jury selected 18 outstanding startups for their innovative DeepTech or Applied Tech ideas. Three of the 18 startups caught the jury’s attention — called the “Catches of the Jury”. The Catches of the Jury were Manukai, who makes the process of turning CAD designs into machine instructions faster and more efficient, Lightium, a Production-Grade Photonic Foundry For Thin-Film Lithium Niobate, and Inveel who equips robots with advanced sensing capabilities through its robotic sensory skin technology.
The talk that followed Youngsters Pitching, “Reflection on the State of the Swiss Startup Ecosystem” was also insightful. Swiss startups are often founded on academic research conducted at ETH, EPFL, and other prestigious universities, so they have excellent technology and are mostly based in Zurich and Lausanne. Switzerland’s strong education system provides a solid technical foundation for high-tech startups. The young entrepreneurs on stage had great interest in climate change and ESG and solved the problem with solutions that meet the sustainable development goals.
While I was surprised by the amazing technological prowess of Swiss startups, what was disappointing about this conference was the startup booths. I expected to see many startup booths, but most of the booths were incubators, startup accelerators, and other startup service providers. Finding the startup booth was not easy. Some startups had to cram products from three or four companies into one booth provided by the accelerator. Because of this, visitors had to attend startup pitching sessions or network individually with entrepreneurs wearing blue necklaces. I hope to see more startup booths at Startup Days next year.
Here are the ten interesting startups I met at Startup Days:
Inveel
Inveel equips robots with advanced sensing capabilities through its robotic sensory skin technology. By printing nanoelectrodes on large-area polymer surfaces, Inveel’s technology provides robots with a sense of touch, significantly enhancing their safety, efficiency, and adaptability in various domains. They were one of the three winners of the Youngster Pitching 2024 at Startup Days.
Roboa
Roboa founded by a young team based out of ETH Zürich, is a snake-like robot that enters confined spaces to save the lives of disaster victims and inspect industrial plants, minimizing downtime and increasing operational safety.
Protonica
Cancer is the 2nd cause of death. Unlike conventional radiotherapy, proton therapy is using protons instead of x-rays, reducing side effects and risk of developing a secondary cancer, while offering the opportunity to shorten the treatment duration into a single session. To unlock the full potential of this novel cancer treatment, the beam diagnostic systems need to be improved. Protonica aims to advance proton therapy by providing the most performant proton beam detectors.
Here’s the video of Riverkin, Protonica and AlterEgo
Riverkin
Riverkin is revolutionizing the management of freshwater systems by deploying ultra-low-power sensors that measure water flow, temperature, sediment, and conductivity. Their sensors are not only ultra-low power, but also capable of sending data remotely and are highly scalable. This sensor ecosystem provides superior spatial and temporal resolution data, allowing the team to collect data at the precise location and moment it’s needed. This capability enables the detection of water risks and extreme events like landslides.
AlterEgo
Returns are classified as one of the top five challenges for online fashion. AlterEgo enhances online shopping experiences by providing virtual try-on solutions to D2C brands active in e-commerce. By allowing shoppers to create their 3D avatar from one photo and digitally try on clothes, their technology displays the fit of the articles based on body morphology, reducing the need for returns.
HEGIAS
HEGIAS is a Swiss proptech company. Based on 3D models (e.g., IFC), planned buildings can be inspected, experienced, and discussed using the HEGIAS simulator. It can be configured in a browser with future users remotely, thanks to virtual reality.
Abrinca
During his PhD, Thomas Roder created software called OpenGenomeBrowser, which makes it easy to analyze and compare the genomes of microorganisms, such as bacteria. This capability is required in fields like the fermented foods industry, basic research, and medicine. Realizing there might be a market for this, he created the startup Abrinca to bring the software to market and ensure continued development.
Dassault Systèmes
3DEXPERIENCE platform on the cloud’s SaaS solutions offer a complete suite of applications that enable fast, high-quality and sustainable product development from start to finish. The users can speed up projects with proven frameworks for success including collaborative design, concurrent engineering and integrated modeling and simulation thanks to automated processes, template creation and knowledge reuse.
IMAI
IMAI MedTech GmbH, a spin-off from ETH Zurich, is pioneering advancements in cancer diagnostics and tissue research with its innovative automated 3D histology platform. IMAI is dedicated to transforming cancer diagnosis and advancing tissue research for drug discovery and basic biological questions. By leveraging 3D histology, IMAI enhances diagnostic accuracy and significantly reduces the time required for 3D tissue staining.
Yuon Control
District heating is on the rise and utility providers are looking for solutions to run the networks efficiently and reduce peak loads, which are costly and lead to high CO2 emissions. Yuon Control AG, a Burgdorf based Climatech company, developed a predictive heating control system to optimize district heating networks. We learn about the thermal dynamics of the grid and buildings and do actively control and manage the network operations to reduce energy consumption by about 25%.
How are you, AI in Europe?
The VC downturn is having a much more pronounced impact on AI funding in Switzerland. According to startup data from Zefyron, Swiss AI companies have secured a total of CHF 129 million in funding in 2023, down 77% from 2022’s CHF 561 million. In total, 2023 has seen the closing of 56 AI deals, half the number recorded in 2022, which had 110.
However, AI remains a significant focus in Switzerland, with many industry sectors striving to keep up with the technology. AI-focused conferences like Uphill Conf gather AI experts from Switzerland and overseas in Bern to highlight trends in AI. Here’s a quote from Georges Khneysser, the Founder & Chief Vision Officer at QBIT Capital AG, which provides a good glimpse into the AI development scene in Europe:
“Reflecting on the dot-com bubble of the 2000s, I see that while the hype around AI is undeniable, it also signals the onset of massive disruption. As we move into the second half of the chessboard, an analogy illustrating exponential growth, AI’s initial incremental advances are now leading to exponentially larger impacts. This concept, based on the tale where each square on the chessboard doubles the number of grains of rice, symbolizes how technological growth is becoming noticeably rapid and transformative.
The recent Viva Tech Conference has reinforced that AI is no longer a niche technology but a transformative force across all sectors. It’s driving disruption and creating new opportunities for growth and competitive advantage. In the coming years, AI is expected to continue reshaping industries, enabling more efficient processes, personalized experiences, and data-driven decision-making,” says Georges Khneysser, the Founder & Chief Vision Officer at QBIT Capital AG.