Abstract
Entrepreneurship in Switzerland seems to be the exact opposite of that in Silicon Valley and can be described as low-impact entrepreneurship, or niche-centric entrepreneurship. We used an online survey to investigate the characteristics of Swiss entrepreneurs, their business performance, activities in securing investments, as well as their expectations from supporting institutions. In addition, as an effective example of utilizing the ecosystem, we investigated the entrepreneurs’ activities in venture competitions. We provide empirical evidence that supports the view that Switzerland, at least regarding high-tech, early stage companies, has a unique ecosystem – low financial expectations, niche technology specialists, mostly angel and self-financed, high survival rates and clear success, defined via great products and innovation, and positive social/environmental impact.
Highlights
Entrepreneurship has received great attention with successful, young, high-tech start-ups highlighted regularly in the popular media
Due to the positive role start-ups play in creating new jobs, governments have attempted to promote entrepreneurship in their regions (Schwartz, Goethner, Michelsen & Waldmann, 2013)
Silicon Valley was ranked as the top ecosystem, attracting 47% of all venture capital invested in the USA in 2015, and 30% of all deals (Herrmann, Gauthier, Holtschke, Berman & Marmer, 2015)
Summary
Entrepreneurship has received great attention with successful, young, high-tech start-ups highlighted regularly in the popular media. Due to the positive role start-ups play in creating new jobs, governments have attempted to promote entrepreneurship in their regions (Schwartz, Goethner, Michelsen & Waldmann, 2013). Silicon Valley, and the San Francisco Bay Area in general, is considered the global role model for an entrepreneurial ecosystem. According to Ernst and Young's annual survey (Schreiber & Pinelli, 2013), the USA ranked best in terms of access to funding and the entrepreneurship culture. Silicon Valley was ranked as the top ecosystem, attracting 47% of all venture capital invested in the USA in 2015, and 30% of all deals (Herrmann, Gauthier, Holtschke, Berman & Marmer, 2015). Though northern California has been proposed as a role model for policy-makers in other countries, entrepreneurs, investors and government officials everywhere must find the model that best suits their region
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