How Innovaud supports startups in Vaud and on the global stage

28.02.2022 07:05, Isabelle Mitchell

The deeptech startups that joined the Swiss National Startup Team in 2021 included six startups from the Vaud region. To get ready to enter the global stage, the companies built a solid foundation—with the support of Innovaud, the innovation and investment promotion agency for the canton of Vaud. The organization supports tech-oriented companies in developing their businesses, carrying out innovation projects, and assisting foreign companies in setting up their business in the region. To learn more about Vaud’s role as an innovation hub, we asked two Vaud-based Venture Leaders Deeptech 2021 how they benefited from Innovaud and how the international roadshow accelerates their growth.

The canton of Vaud has emerged as a global hub of research and innovation over the past 20 years. Many breakthrough technologies have been developed here, such as the Nespresso coffee machine, Logitech mouse, Scala programming language, and the solar-powered plane Solar Impulse. This region—one of the wealthiest in Europe—hosts the headquarters of many multinational companies, along with large numbers of SMEs, scale-ups, and startups. And since 2013, Innovaud, the agency for promoting investment and innovation, has supported 245 foreign companies to set up shop in the area. This region is known globally for its technology clusters in life sciences, nutrition and food technologies, energy and environment, micro and nanotechnologies, ICT and digital, and drones and aerospace. Teams of deeptech innovators work in many interdisciplinary research fields cutting across 16 key disciplines. 
 
After our interview with Innovaud CEO Patrick Barbey, we wanted to hear from the startups themselves. Two Vaud-based entrepreneurs and Venture Leaders Deeptech 2021 tell us how they experience the region’s innovative spirit: KOMP-ACT CEO Salvatore De Benedictis and Perovskia CEO Anand Verma. 

KOMP-ACT (Renens, VD)

KOMP-ACT electric actuators for a carbon-neutral industry

Salvatore, why did you set up KOMP-ACT in Vaud?
For two main reasons: Our development required close collaboration with the laboratory and students of the EPFL, so we wanted to be as close as possible to the university. The second reason is that the canton de Vaud offers vast financial and coaching support for entrepreneurs, more than other cantons, at least in the French part of Switzerland.
The canton de Vaud is rich with amazing startups with great innovation, most of them have founders who have studied at the EPFL, and they are coming from all over the world. So, I am very proud of being part of this ecosystem of amazing startups and exchanging with my peer founders who contribute to reshaping tomorrow's world.
 
Why should other companies set up their headquarters in Vaud?
As a new entrepreneur coming from abroad, I did not know much about setting up and running a company in Switzerland. Everything has been facilitated thanks to the support setup through the persons belonging to the different organizations: Innovaud, Innovation Park foundation, etc. I also received financial support, which is beneficial in the early stage of a company.
 
How has Innovaud supported you on your entrepreneurial journey? 
I met Innovaud when my company was not yet founded, and I had only an idea in mind. I first heard about Innovaud through Mr. Jean Michael Stauffer, who reached me after listening to my pitch during venture.ch 2017, and he guided me through all the networking support.
So, Innovaud has been like a partner for me; they have further provided financial support, networking, and dedicated coaching.
Innovaud helps entrepreneurs even before the foundation of a company. This is a great opportunity for entrepreneurs to be accompanied throughout their journey with different types of support.
 
You were a Venture Leaders Deeptech 2021 and recently traveled to Munich and London to connect with investors and experts. What was the most important takeaway from the Venture Leaders roadshow? 
We want to achieve the Series A financing round to expand the commercialization of our product internationally. The Venture Leaders roadshow has been a very rich experience for me; I had the chance to connect with amazing people and learn from their experiences. Partnerships and investment opportunities are larger on the global stage, and startups should seek support to get to the global stage as quickly as possible.
 
What piece of advice would you give startups that want to apply for the Venture Leaders program?
To be prepared to pitch anytime, everywhere, and in every format; there is no break because the pitch is behind the corner. Have a great vision and be able to transfer messages full of energy. Stay humble and listen to the advice of experts and investors.

 

Perovskia (Aubonne, VD)

Digitally printed customizable solar cells

Anand, why did you set up Perovskia in Vaud?
Vaud has a strong startup culture and a network of SMEs, innovation centers, and universities like EPFL, which facilitate the germination of startups. We got interesting customers and prospects (startups) looking for specialized custom design solar cells headquartered in Vaud.
 
The support from Innovaud and the possibility to get mentors and advisors when needed help with the decision to set up the company here—in addition to the beautiful landscape. There are lots of active business angels and VCs in the area, enabling the company’s faster development.
 
Why should other companies set up their headquarters in Vaud?
The startup ecosystem is thrilling and thriving in Vaud, and one should consider it as their headquarters. Many startups and SMEs become favorable partners, suppliers, clients, or customers.
 
Why should startups in the Vaud region use the Innovaud support? 
Innovaud has a strong network and reputation. The team helped us personally and shared all support systems provided by the canton. Their set processes accelerate growth and provide training facilities for staff and financial routes to raise funds. The Innovaud team is always just a call or email away!
 
You were a Venture Leaders Deeptech 2021 and traveled to Munich and London to connect with investors and experts. What was the most important takeaway from the Venture Leaders roadshow? 
Venture Leaders is an amazing initiative and program. It helped us gain a lot of visibility and explore the German and UK landscape. We got lots of interest from investors and are in talks with potential customers. Personally, meeting the other Venture Leaders was amazing.
 
What piece of advice would you give startups that want to apply for the Venture Leaders program? 
Just don’t miss this great opportunity to explore, expand, and grow. In a week-long, packed schedule, you will interact with many investors and collaborators and benefit from high-level networking opportunities. In addition, meeting other Swiss startups is a bonus.
 
What are the next milestones you want to achieve with the Perovskia team?
We are in the process of increasing the current production capacity from 100,000 solar cells to 1 million solar cells annually and increasing the team size. To realize this, we are raising CHF 2 million.