Switzerland is a leading country in the world in terms of technological advancements. The tech industry in the country is fully developed with numerous fields of technology benefiting from the growth. Demand for better technologically advanced products by the people have led to tremendous growth of the Swiss tech industry. There are also numerous benefits that have come up from the current demand in the tech industry. Thousands of jobs have been created for the highly skilled experts in the country. The economy has also benefited from the growth as it now other global economies.
The question that many have been asking is, why is the tech industry in Switzerland so developed? The tech companies in the country have embraced technological innovations in a big way as other countries in the world struggle to catch up. Although many economic experts have tried to analyze this situation, there are is an important point that is missed. Most experts talk about governance, culture, subsidies among others. However, the point here is, there is a key element of this growth that these experts fail to note. The tech industry in the country has been aggressive because tech startups in Switzerland are very many. At the Swiss Federal Institute of Technology, there are over 400 high tech startup companies. This is in one department. Overall, thousands of startups have been started all over the country.
Startup companies must be disruptive for them to succeed. Tech industry is full of big corporations that are already making huge profits every year. It means that it’s hard for the startup companies to compete on the same platform. Startups must offer something that the large corporation does not. This disruption mostly is in the form of innovations or ideas to serve consumers better than the big corporations. Startups have the advantage of looking into all the areas that big corporations do not deliver and fill the gap. Once consumers are convinced that the startups offer valuable services, the startups will enjoy profits that will enable them to grow.
About Mike Baur
Mike Baur is a mentor of startups businesses in Switzerland. He is the co-founder of Swiss Startups Factory that deals with training digital entrepreneurs on the way to develop a startup company to a fully developed business that generates revenue.