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Discussion (12 Comments)Read Original on HackerNews
Switzerland has everything to produce successful startups: top universities and talent, stable and sovereign infrastructure and government, capital, and liberal tax and company laws.
However, the reality is different:
As if starting a company isn't hard enough, Swiss (and I guess EU) culture doesn't really recognize entrepreneurship as a valuable career path. You hear a lot of "Are you sure about taking that much risk?" and when you fail you get a "I told you so".
You would think there's plenty of capital here, but unfortunately not in VC. It's getting better, but many Swiss early-stage investors still ask for a detailed 5-year business plan and four due diligence calls for a 5k ticket in your round.
In SF, everyone helps each other out with their network, intros, and so on. In Switzerland, most startups and scaleups still operate in closed gardens and ecosystems are rare or slowly developing, which makes building a network really hard.
Events like these hopefully help to change this :)
In the UK, for example, we don’t suffer from a dearth of innovation. What actually happens is that successful companies get hoovered up by foreign, and particularly US, investors. It’s extremely frustrating.
For myself, I’m pleased to see events like this happening in other European countries.
Spotify, Ayden, Revolt and N8N are some examples that come to mind.
Europe has some very real work to do to stay competitive but fortunately things are slowly changing.
Sad that people on HN can’t make the difference between funding and startup mindset/innovation potential.