SWITZERLAND: the World's Innovation Champion

The World’s Innovation Champion

Aside from its pristine landscapes, efficient banks and unbeatable clocks, Switzerland has established itself as the world’s #1 innovative economy, topping the World Intellectual Property Organization’s innovation index for eight consecutive years.

Special Publication World Economic Forum Davos 2019 SWITZERLAND PRISMA REPORTS

shutterstock: Fedor Selivanov

1 SWITZERLAND The world’s innovation champion

Prisma Report wishes to thank Contents its esteemed partners for their Switzerland at a glance contribution to this publication Innovative economy Blessed with an independent and central position in What is the secret to Switzer-

the heart of Europe, Switzerland is an ideal business land’s outstanding success in an Photo: S hutterstock - Peter tein destination incredible range of sectors? US-Swiss relations Population The pair enjoy an enviable mu- 8 million people tually-beneficial alliance in trade, cultural and political spheres. Bern old quarter with the Aare river flowing around the capital city Diversity in its DNA With diverse cantons competing for business and investment, en- The most innovative terprises are spoilt for choice. GDP growth economy in the world 2.4% Banking & financial services Through decades of experience. Switzerland is a powerful magnet Switzerland is proud of its hard-earned and well-deserved for banking, financial services, reputation as the world’s most innovative economy, with and wealth management. Lausanne city the country ranked first by several prestigious indices KEY FACTS & FIGURES ABOUT SWITZERLAND Major digitalization drive Official languages State-of-the-art technologies are Dynamic and ambitious, Switzer- duction costs also relatively high due German, French, Italian revolutionizing the way firms in land sets the impeccable standards to labor costs. and Romansh but English many industries operate. for other countries to follow, espe- Higher remuneration packages is widely spoken cially in the highly-competitive and are, however, needed to attract and World-class manufacturing ever-changing field of innovation. retain the best employees as the From luxury precision watches Named by the World Intellectu- country has one of the world’s best to high-tech medical devices, al Property Organization (WIPO) talent pools. Neutrality Federalism Switzerland is succeeding with as the world’s most innovative na- The IMD World Competitive- Switzerland has been a neutral Switzerland is a confederation, its focus on quality not quantity. tion for the eighth consecutive year, ness Centre recently named Switzer- state since 1815 where state power is spread over Switzerland saw off fierce competi- land first in its latest coveted World three levels Higher education / R&D tion from major rivals including the Talent Ranking — meaning the na- Largest Swiss cities The pinnacle of perhaps the US, the UK, and Germany, among tion held on to its title from 2017. Zurich, Geneva, Basel, Lausanne finest education system in the others. Judges from IMD highlighted and Bern, the country’s capital world, universities across the Compiled annually by the United how the cultivation of “a skilled country are setting benchmarks. Nations’ intellectual property agen- and educated workforce is crucial cy, the WIPO index comprises more to strengthening competitiveness than 125 countries and is based on and achieving long-term prosperity, Direct democracy Situation Alpine adventures dozens of key factors, including mo- particularly in the current dynamic The people are given a direct say Landlocked, mountainous Millions of tourists arrive year- bile-application creation, investment landscape where artificial intelli- in their own affairs country, positioned in Central round to marvel at its incredible in environmentally friendly technol- gence, robotics and other new tech- Europe scenery, climb tall mountains, ogies, spending on education provi- nologies constantly redefine the chal- Political system and ski down stunning slopes. sion, and funding for scientific and lenges governments, businesses and Federalism and direct technical publications. society will have to face.” democracy. The federal structure This enviable success is mirrored As one of the world’s most de- consists of three levels: the in the latest edition of the UN Glob- veloped countries, Switzerland is a confederation, 26 cantons al Innovation Index (GII), which has magnet for superlatives and scores Surface area Capital (states) and approximately 2,300 ranked the landlocked country in top extremely highly in many interna- 41,285 square kilometers Bern (approx. 123,000 municipalities. The cantons enjoy Published by spot since 2011. tional rankings for its excellent quali- broad autonomy in many areas inhabitants, 2011) Prisma Reports According to the GII, Switzerland ty of life and substantial GDP. outperforms all other countries with These include indices based on its world class patent and intellectual quality of life, security, civil liberties, property rules, and also claims global government transparency, human pole position for research collabora- development and economic com- tion between various industries and petitiveness. Swiss cities like Geneva PRISMA REPORTS universities. and Zurich are frequently named the 20 Victoria Street, This enviable track record for best in the world in which to live. Currency Religion Unemployment rate London SW1H 0NF, United Kingdom innovation is perhaps even more Switzerland is truly an innovation Swiss franc Majority Christian. Approx. 2.7% as of December 2018, Tel: +44 (0) 20 7692 0869 remarkable given the challenges cre- champion regarded as the bench- 38% Roman Catholic, down from 3.3% one year earlier, [email protected] ated by a strong currency that makes mark in today’s era of globalization and 27% Protestant according to Trading Economics www.prisma-reports.com exports more expensive, with pro- and competitive trade flows.

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Welcome to Switzerland, US-Swiss trade relations soar to new heights where innovation and Swiss businesses strengthen the US economy, explains Martin Naville, CEO of the Swiss-American Chamber of Commerce. excellence prevail Despite its small size, Switzerland’s economic footprint in the US is remarkable and appears well set for further growth Although there is a significant start-ups, and entrepreneurs to in Switzerland that are doing re- difference in population size and work together in a cohesive way. search and operating R&D cen- How does a landlocked country with such a limited topography, Switzerland stands Under the initiative, five state- ters in the country.” head and shoulders above many of-the-art innovation parks are As the Swiss economy has domestic market score one of the highest average of its competitors when it comes providing leading universities expanded robustly in a compre- incomes, maintain steady GDP growth and head so to lucrative trade ties with the and companies with tremendous hensive range of sectors, so has many global competitiveness indices? economic powerhouse that is the networking opportunities that are the number of public and private US. allowing them to flourish. entities dedicated to maintaining Switzerland has worked hard to “We are selling three things and fueling this growth. construct a large economic foot- on an international level,” states One of the entities is Econo- Once best known for its stunning print in the US and the two na- Switzerland Innovation CEO miesuisse, which aims to act as mountains and lakes, the Alpine tions enjoys a healthy relationship Raymond Cron. a conduit between politics, busi- nation is busily reinforcing its based on trust and respect. “The first is academic excel- ness and society, and represents extraordinary reputation as the Official government data Martin Naville lence, which is linked to our uni- approximately 100,000 compa- world’s innovation capital. 10 things shows the pair exchange goods CEO, Swiss-American Chamber of Commerce versities, in combination with the nies from all Swiss business sec- An ingrained determination and services worth at least $100 fact that we attract the best tal- tors and regions. to always score higher, better and Photo: S hutterstock E mperorcosar. you didn’t know billion per year, making Switzer- itors. The US may sometimes be ents from all over the world. “Switzerland is in a good po- faster makes Switzerland a formi- about Switzerland land the seventh largest foreign protectionist but if a company “Secondly, you will find a vi- sition and highly attractive for dable competitor and strong talent investor in the US with more than invests in the US it is treated the brant start-up ecosystem, an im- global investment,” states Jan At- magnet where the best and bright- $224 billion in cumulative direct same as an American firm. portant precondition for innova- teslander, executive board mem- est minds can grow and flourish. Switzerland is the world’s fifth investment. “US companies do not come to tion to develop and flourish. ber of Economiesuisse. By blending strong political and Switzerland for large markets or “The third element is the pres- “This is reflected in all the economic stability with a focus on happiest country according to the World Happiness Report 2018. Potent Transatlantic trade cheap manufacturing resources,” ence of strong industry partners. clusters that have mushroomed: premium education provision for Among the key Swiss goods mov- Naville adds. We have a substantial number of med-tech, high-tech, nano-tech, future generations, Switzerland is It is frequently voted best coun- ing across the Atlantic are phar- “They come for Switzerland’s large international corporations biotech hubs and so on.” striving to ensure the country re- try to live in, in terms of safety, maceuticals, medical and optic innovation strength, high polit- tains its place at the top of innova- quality of life and income. instruments, gold and precious ical stability, business-friendly tion indices and competitiveness stones clocks and watches, ma- environment, international pop- rankings. Switzerland has enough nucle- chinery and agricultural items. ulation, excellent infrastructure, Having retained its crown at ar shelters to fit its entire popu- Switzerland is also the biggest highly-educated workforce and the front of the Global Innova- View of the famous Fraumunster Church in Zurich, Switzerland lation. overseas investor in research many other advantages. tion Index, the organizers noted Despite being officially neutral, and development (R&D) in the “These are some of the reasons achievements in key business the seeds for innovation in a wide environment spheres. it has one of the highest rates US, with Swiss firms focused on for Google’s largest development areas such as patent and intellec- range of sectors. Officials are eager to pioneer of gun ownership anywhere in high-value sectors like pharma- site outside of the US, IBM’s tual property-related indicators, Such areas include health and new technologies in energy stor- the world and military service is ceuticals and medical goods. leading-edge laboratories with its and further progress in high and life sciences, which concentrate age, smart grids, power genera- mandatory. medium-high-tech manufacturing on aspects like drug discovery and tion, smart building / living, ener- About 20% of Swiss foreign direct investment goes to the production. design, precision/personalized gy/resource efficiency and green In case of foreign invasion it “Switzerland is a global leader medicine, medtech, biotech, di- chemistry. could destroy most of its entry US. Furthermore, no other country invests as much in R&D in R&D spending and quality of agnostics, biomedical engineering, Switzerland is leading the points so as to discourage invad- in the US as Switzerland.” universities [...] with a solid out- nutrition and human physiology. charge in aviation and space tech- ers. Martin Naville, CEO, Swiss-American Chamber of Commerce put performance and increasingly The development of cutting- nologies, as well as autonomous The Swiss are the #1 choco- diversified range of high-quality edge technology such as digital driving, avionics and drones, elec- Indeed, such high-tech enter- globally top nanotech center, Bio- outputs,” the World Intellectual currencies based on revolutionary tric mobility and batteries, traffic late consumers in the world, per capita. prises are among the hundreds of gen’s newest manufacturing plant, Property Organization (WIPO) blockchain systems is another planning and transport systems, Swiss companies that operate out Proctor & Gamble’s European said recently. fast-growing area. With at least and mobility infrastructure. The Swiss are the fourth big- of thousands of sites across the headquarters, and many more to According to the largest report one canton aiming to establish In manufacturing and mate- gest consumers of milk in the US. Together, the 500 companies be located in Switzerland.” from WIPO — which like many itself as the Silicon Valley of Swit- rials, experts are developing ro- world and one of their popular employ about 500,000 people. international agencies and orga- zerland, opportunities abound in botics, automation, industry 4.0, drinks is Rivella. “About 20% of Swiss FDI goes Powerful partnerships are key nizations has its headquarters in computer and computational sci- advanced manufacturing, acceler- to the US. Furthermore, no oth- With innovation lying at the very Switzerland — the country is also ence fields. ator technology, nanotechnology, Switzerland has a council of er country invests as much in core of Switzerland’s DNA, it FP FLIRT POLICY Europe’s leading source of patent These include data security and and microelectronics. seven leaders who rule the coun- R&D in the US as Switzerland,” was only a matter of time before In a word: Success! Since being introduced in 2004, and design applications. analytics, artificial intelligence, Meanwhile, each year thou- try. explains the Swiss- American the government and the private the FLIRT train has been sold over 1600 times. It is Similar studies have highlight- storage technologies, the Internet sands of people flock to the Inter- sector combined knowledge and Swiss punctuality is not a Chamber of Commerce CEO, getting passengers in 18 countries to their destina- ed how alliances between mul- of Things, smart sensors, cloud national Exhibition of Inventions Martin Naville. resources to develop an alliance. myth, Swiss stick to their clocks! tions safely and quickly every day. www.stadlerrail.com tinationals and small and medi- computing and bioinformatics. in Geneva where talented inven- “Switzerland has very well-es- The result is Switzerland In- – um-sized enterprises, research Other innovative sectors tar- tors showcase innovative designs Swiss public transport is one tablished companies in the US, novation, a platform launched at and educational institutions, and geted for development include to try and win financial backing to of the most efficient and will take most of them have been there the start of 2016, that enables the university spin-offs have sowed the energy, natural resources and develop their ideas. you anywhere in the country. longer than their foreign compet- country’s researchers, companies,

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St. Gallen’s world- A strong cultural diversity class education system optimizes From generous tax benefits to quick access to some of the students’ talents world’s best health and education systems, the 26 cantons work hard to entice investors and professionals with a myriad of opportunities and competitive advantages Nestled between the Swiss Alps and beautiful Lake Constance, the city of St. Gallen lends its name to Without doubt one of the most but also to SMEs,” officials note. the surrounding canton and boasts famous towns in the country — if Turning to the core pillar of one of the highest proportions of not the world — the Alpine resort tourism, they add: “The cultur- Photo: Canton Schwyz The Grosser Mythen mountain, Schwyz canton young people in the country. of Davos is best known for its an- al diversity, the beautiful coun- As a leading education and IT nual hosting of global leaders and tryside and the effective infra- hub, the region is a highly attractive power brokers at the World Eco- structure with hospitable hotels, Innovation valleys emerge place to live, study and work. The nomic Forum (WEF). mountain railways, baths, spas From glaciers to palms. The most beautiful experience of the Alps first-rate education system equips However, to just concentrate and sports facilities are decisive students with the knowledge and purely on that prestigious event factors in making Graubünden a rich, Basel and Berne, Aargau also best cities in the world, Zurich from below the mountains skills to thrive in 21st century work- would be to overlook the many leading vacation destination, both benefits from its proximity to Zu- boasts top universities like ETH places. opportunities and business ad- in winter and in summer. rich’s international airport. Zurich, the University of Zurich, Switzerland’s rich tapestry of diversity is not just limited to its “From primary schools to uni- vantages the beautiful canton of “Graubünden lives on tourism The canton offers outstanding the Zurich University of Applied versity, we are extremely success- Graubünden has to offer. and the revenues from tourism research and training institutes Science, and R&D centers from landscapes, as each canton excels in its own style and way ful,” says head of education at can- The largest canton in the coun- provide half of the jobs and in- and comprehensive know-how in Google and IBM Research. ton St. Gallen, Stefan Kölliker. try by size, but the least popu- comes in the canton. Every year, fields like medtech/pharmaceuti- Zurich also offers a balanced “It is a great place to bring up lated with less than 200,000 res- 11 million visitors spend the night cals, energy technology machine mix of innovation-driven industry Switzerland’s crystal-clear lakes ity with the rest of Europe. families and for companies looking idents, Graubünden’s stunning in 170,000 beds.” and metal industries, and ICT. clusters such as finance, ICT, life and snow-capped mountains are Such impressive connectivity is to succeed — because they need mountainous scenery draws mil- An economic powerhouse sciences and cleantech. always top of tourists’ itineraries, one reason why a large health-tech- Kaspar Michel good employees and we produce lions of people each year. Alpine trains thrill tourists responsible for creating over a The thriving life-sciences clus- but behind this eye-catching im- nology cluster has become well Head of Finance, Canton Schwyz fantastic employees.” The vast majority of tourists The most popular tourism attrac- fifth of GDP, Zurich is the hub of ter also features a high share of age is a hard-working and inno- established in the central canton evolution,” states Kaspar Michel, Among the leading educational flock to its incredible array of tion in the country, the instantly choice for many multinationals. medical enterprises and universi- vative society that is competitive, of Schwyz. head of finance at canton Schwyz. establishments is public facility the slopes for popular winter sports recognizable Rhaetian Railway Consistently rated one of the ty spin-off activities. and highly focused on education. Part of the greater Zurich area, “We are a very stable and safe University of St. Gallen. Character- like skiing and snowboarding, but carries nearly 10 million people Companies headquartering Schwyz is now home to around canton with great conditions, good ized by a practical approach and an the views under the summer sun each year, with its distinguished in Switzerland enjoy a vast array 250 health-tech members who schools, and a healthy and open integrative viewpoint, the business are just as breathtaking. red trains considered a regional of bilateral treaties with the US, benefit from numerous connec- society that is supported by a liber- university has 30 affiliated research and national icon. excellent infrastructure, and a po- tions to other health-tech clusters institutes. They are managed by ac- al government open to innovation The UNESCO World Experiences to be enjoyed on litically and socially stable environ- throughout Europe. and investment.” ademics but run independently as the route — which comprise ment. Such factors give balance to businesses. Heritage status helps us nearly 400 kilometers of single- the higher production and opera- We are a very stable and safe canton with great conditions, This is where the University of in terms of image and track lines, 617 viaducts/bridges tional costs that they sometimes good schools, and a healthy and open society that is St. Gallen trains many junior re- reputation. There are and 115 tunnels — include the face. supported by a liberal government open to innovation and search staff, allowing them to fully only three railways in the panoramic Bernina Express and Supported by aggressive and understand the professional world investment.” world with this label.” the Glacier Express. attractive fiscal policies, and a de- and encouraging them to launch “The UNESCO World Her- Progress is Kaspar Michel, Head of Finance at Canton Schwyz termination to achieve the most spin-off firms. The award-winning Renato Fasciati itage status helps us in terms of ambitious goals, however, Swit- Characterized by its modesty, Many other cantons have also university has five schools, focused CEO, Rhaetian Railway image and reputation,” explains zerland’s cantons compete hard Schwyz also offers investors di- caught the eye of international on management, humanities and Rhaetian Railway CEO, Renato just a word. to secure international investment. rect access to key decision makers, companies and investors. They social sciences, law, finance, and The region is also host to three Fasciati. The country’s cities and rural meaning officials are on hand for include Vaud, home to the second economics and political science. UNESCO World Heritage sites: “There are only three railways areas are very diverse, with four discussions on any issues. largest economic zone, and Gene- “We train future leaders in busi- the Monastery of St. John in in the world with this label. Our Until you make official languages and very differ- “Just as Switzerland is indepen- va’s international airport. ness, society and politics, who know Müstair, the Albula and Bernina trains are also widely known ent cultures that can make you feel dent and internationally well-con- The canton offers a vibrant, in- that they are operating in an envi- lines of the Rhaetian Railway and around the world and have a large you are in another country. The nected, the canton of Schwyz has tensely international atmosphere, ronment which is influenced by the Sardona Tectonic Arena. fan base. We offer a combination it happen. 26 cantons hold a high degree of proven itself an autonomous and with its range of innovative com- technological developments, which As Switzerland’s only tri-lin- of landscapes, bridges and scen- autonomy: healthcare, education resilient industrial base,” says panies and advanced research affect social perspectives, cultural gual canton, Graubünden is a eries that is quite unique. We Find out how we’re making progress happen at and culture are among the political Andreas Barraud, head of the De- institutes. Vaud has a diversified, changes and political changes,” ex- place of economic, cultural and are a very popular attraction for credit-suisse.com areas where they have a great deal partment for Economic Affairs technology-driven economy, no- plains its rector, Professor Thomas political diversity. The Romansh tourists from the US because we of influence. Each canton also han- at canton Schwyz. Among the tably in micro-nanotechnologies, Bieger. language and culture is an import- bring not only culture but also dles its own business development major companies to have chosen food and nutrition and informa- “These future leaders need to ant part of Graubünden’s charac- sceneries.” with specialists in certain areas. Schwyz as a base for key opera- tion/communication technologies. understand the whole context to ter, notes the local administration. Meanwhile, the technology and This fierce — but healthy — tions are Estee Lauder, Victorinox, Zug is home to the country’s take the right decisions. We have “A moderate tax burden, opti- R&D canton of Switzerland is competition to win investors’ Kuehn+Nagel and Garaventa. Crypto Valley, while Lucerne hosts roughly 9,000 students and offer mally trained professional staff, Aargau, with twice as many peo- hearts and minds includes fiscal “Our strategy of low taxation, global Swiss firms like Schindler executive education from full-time high labor productivity and a ple working in R&D compared to incentives and competitive tax combined with our excellent loca- and Emmi, and boasts the lowest MBAs to executive MBAs, and fine-meshed infrastructure offer the national average. Copyright © 2019 Credit Suisse Group AG and/or its affiliates. All rights reserved. rates, attractive and safe environ- tion and large land availability, has corporate tax rate in the whole of open enrollment programs for over locational advantages not only to With a privileged location be- ments, and unbeatable connectiv- enabled tremendous growth and Switzerland. 5,000 participants annually.” internationally operating firms, tween the bustling cities of Zu-

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and to restore confidence in the growth initiatives in the future.” Banking and financial services thrive after profound transformation Banking titan UBS is a beacon for financial system,” comments According to Weber, interna- Axel Weber, UBS chairman. tional clients are eager to make billionaires and world’s wealthy “Financial stability has im- the most of Switzerland’s key Compliance with rigorous international regulations The financial sector pays CHF proved substantially. Large Swiss competitive advantages, such as and the strengthening of fiscal requirements makes banks are now among the world’s its stable political environment, 19.3 bn in taxes Considered one of the biggest and most powerful financial Switzerland’s tax haven tag totally outdated soundest and best capitalized. strong economy and currency. institutions in the world, UBS’s capital strength, security “We adjusted our business “UBS is the only truly global model early on to respond to the wealth manager with expertise Once shrouded in secrecy, Swit- protocols and reputation for discretion is unparalleled changed regulatory environment and access to the world’s fastest zerland’s banking and financial and we continue to proactively growing markets,” Weber adds. services industry now posts total A banking giant and national With an extensive presence manage regulatory change. “And we are the market leader for transparency, while still retaining its icon, UBS Group is one of the in the US — where the group “In 2011, we changed our ultra-high net worth clients with global edge, acquired thanks to its This is almost equal to federal world’s most powerful and suc- employs around 20,000 people business model to focus on the complex needs reaching across unmatched experience and knowl- spending for transportation, security, cessful financial institutions with — UBS is a formidable player core of what UBS is good at, borders. edge, modern and efficient systems, agriculture and food operations ranging from pri- that is proud of its reputation as namely its global wealth manage- “We see great potential for and adherence to strict internation- Source: Swiss Banking Association (SBA) vate and investment banking to a highly successful wealth man- ment and its position as leading growth here, largely because al regulations. wealth and asset management. agement provider. universal bank in Switzerland. wealthy clients value our skills in Not only is the country imple- — such as local multinational gi- plemented by all banks. We saw in Regarded as a symbol of the In recent years, the bank has “Our transformation hap- caring for both their family and menting the most rigorous tax ant UBS Group and Credit Suisse. 2018 the first wave of exchanging Swiss banking resilience and totally transformed to adhere to pened fast, early and it hap- their business. legislation like the US Foreign Some 90% of those banks recorded data with 40 countries, the second turnaround, a decade after the the new industry landscape and pened very decidedly. We are “UBS has a strong capital po- Account Tax Compliance Act a profit in 2017. wave in 2019 will include 80 coun- global economic crisis UBS is comply with new regulations. now in a position where we can sition and a cash-flow heavy, di- (FATCA) that requires financial Herbert Scheidt The sector employs more than tries, and more waves will follow.” going the extra mile in terms of “Regulatory reform was neces- try to leverage that early success versified and successful business institutions and certain other Chairman, Swiss Bankers Association (SBA) 140,000 people directly and gen- Scheidt is eager to expand on this regulations and capitalization. sary following the financial crisis and gain more traction with our model.” non-financial foreign entities to erates $20 billion in taxes, which point and highlights the impressive disclose the assets held by their wealth management provision. almost equals federal spending progress Switzerland’s banks and US account holders, but Swiss With more than a quarter of all on transportation, security, agri- financial institutions have achieved banks have also invested approx- global cross-border assets managed culture and food. in embracing rigorous international Switzerland proudly tops the pile for protecting wealth imately $500 million to date in in the country, around $2.3 trillion, “Switzerland is a leading and legislation to boost transparency. the latest equipment, systems Switzerland is the undisputed world stable international financial center One of the Swiss banking sector’s The preservation and protection of prosperity has seen and processes to comply with the leader in wealth management. with a long tradition,” says Her- key attractions for foreign individu- Kaiser Partner Wealth Table information exchange. What is more, the confederation bert Scheidt, chairman of the Swiss als and businesses is its exceptional the wealth management industry in Switzerland set the Asking the right questions – Bringing the best experts to the table And yet, despite the industry’s is also one of the most prominent Bankers Association (SBA). ability to handle multi-currency ac- industry benchmark and attract billions of dollars profound transformation and resil- international asset management “Highly innovative and experi- counts in a fast, accurate and high- ience in the years after the global hubs, with a large portion of the enced, we provide a unique range, ly-efficient fashion. financial crisis, misperceptions still invested global fund management depth and outstanding quality in all “Switzerland is a highly innova- With wealth and assets manage- ment, the company develops tai- linger about Swiss bankers, nour- invested locally. fields of finance. We are oriented to- tive place and constantly reinvent- ment now firmly at the core of lor-made strategies and solutions ished by Hollywood movies. wards providing first class services ing itself,” says SYZ Group CEO Switzerland’s expanding banking to protect and grow wealth. Industry officials smile and shrug Wealth management magnet to our clients globally. Eric Syz: “Portfolio management in and financial services sector, in- One of Kaiser Partner’s main at these outdated clichés and focus Around 250 banks operate in Swit- “Today, Swiss banks are trans- any currency may seem trivial but dustry players are taking advan- mandates is to help wealthy indi- rather on the industry’s strengths: zerland, including major domestic parent. The automatic exchange it is one of many value propositions tage of the boom period. viduals and families from the US, excellence of service and bespoke and foreign financial institutions of information has been fully im- that Swiss banks can offer.” Given its award-winning chair- or with ties to the US, safeguard man Fritz Kaiser once co-owned their assets in Switzerland. and chaired Swiss Formula One “We take care of clients from team Red Bull Sauber PETRO- 20 countries and as a group of Swiss global financial exchange embraces latest fintech developments NAS, it is no surprise that his companies we look after some $30 wealth management firm, Kaiser billion in private wealth as trust- The Swiss stock exchange enjoyed a stellar 2018, recording cy repo trading platform, with the Dijsselhof reveals SIX has cre- Partner, is racing ahead of rivals. ees, administrators or asset man- solutions — via the Kaiser Part- secure countries that can serve as system used by more than 160 ated a venture capital fund to Headquartered in neighboring agers,” states Kaiser. “We stand ner Wealth Table — rather than international investment hubs for the highest number of initial public offerings in 17 years domestic and international clients invest in fintech. “Next to help- Liechtenstein, which also boasts out as we see the big picture and just sell products. “Switzerland wealthy families from the US and ranging from regional and inter- ing really small companies with a transparent regulatory environ- want to offer value with bespoke and Liechtenstein are attractive, elsewhere,” he says. Providing the stable and trusted host to the famous Swiss Market national banks to Swiss insurance incubators and accelerators, we state-of-the-art backbone that en- Index (SMI), which just celebrated firms and the Swiss National Bank. also have the opportunity to in- ables the Swiss banking and finan- its 30th anniversary. Owned by its vest in firms, get close to them, cial services sector to thrive, SIX is users — approximately 130 banks Fast and fluid data platforms and potentially use their services a key driver in the transformation — and with 2,900 employees and “SIX is a financial market infra- within SIX and benefit from fin- of fast-moving financial markets. a presence in 23 countries, SIX re- structure organization and ser- tech technologies,” he adds. Join the As the operator and developer cently introduced the world’s first vice provider,” explains CEO Jos “We have the idea of creating a of infrastructure services in the automated digital trading plat- Dijsselhof. “We are not a financial digital exchange, which involves areas of securities, payment trans- form. With a reputation for a high institution but provide services to bringing assets and money into success story. actions and financial information, level of innovation, ingenuity and financial institutions. the digital world (tokenization), SIX is an engine for efficiency, excellent international network, “Within the portfolio of activ- and then blockchain-based tech- quality and innovative capacity SIX is spearheading innovation in ities we have, we also run the ex- nologies, where you do an instan- across the entire value chain of the the digital space and is a key player change. The SMI represents well taneous transaction. This instant Swiss financial center. in the financial technology (fin- above 85% of the Swiss market change of ownership removes schwyz-economy.ch The exchange is the fourth lead- tech) industry. and is the leading indicator in risk. We make the whole capital ing exchange in Europe and acts as SIX operates the multi-curren- Switzerland.” market more efficient.”

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Innovation and digitalization lie at the heart of Credit Suisse’s strategies Digitalization is

An industry titan, Credit Suisse is driving digitalization in its transforming and broad product portfolio, as chairman Urs Rohner details streamlining key Photo: C redit S uisse tasks and systems PR What can you tell us about Credit Suisse’s digitalization agen- da and the innovative solutions, in financial services projects or technologies you will unveil in the near future? The perpetual development of powerful cut- ting-edge technologies is constantly pushing UR Digitalization is fundamentally the boundaries and creating robust demand altering the way banks operate and en- Photo: Shutterstock - Metamorworks for new financial products and services. gage with their clients. At Credit Suisse, Financial institutes must be agile and we routinely ask ourselves what the cli- Switzerland’s success in accelerating innovative if they are to meet the exacting ent of the future will look like and how needs of customers, regardless of whether private banking will evolve as a result of Credit Suisse’s historic and imposing HQ in the city of Zurich, Switzerland the clients are companies or individuals. digitalization. Today, individual clients digitalization is reaping rich rewards Big data is increasingly big business, as do most of their banking on their cell Urs Rohner the right procedures and people in place to growth, continuing with the strategic enterprises invest heavily in their digital of- Chairman, Credit Suisse phones. so we can navigate this rapidly evolving direction we have defined. We are con- ferings, and people spend more of their time We already have a sophisticated area. vinced this is the best way forward for By connecting the brightest minds, the cross-industry association digitalswitzerland and money online, often while on the move. mobile banking platform to meet their advice, understanding the markets and Credit Suisse. is forging new frontiers, as its founder and Ringier CEO, Marc Walder, explains needs. Importantly, we not only lever- defining investment strategies. PR What comes next for Credit Su- Digital future set to tighten margins age technology in our client-facing isse? How will you ensure you will PR Just how important is the US Leading international financial services fig- operations — we have also started dig- PR How will Credit Suisse maxi- continue to deliver growth? market for Credit Suisse and what PR Please give us a general overview of the digi- ple across the country experience digitalization for 24 ures like EY are convinced sector players of italizing processes in our compliance mize the opportunities created by is your main focus in the Ameri- talswitzerland project, such as how it started and hours. Another major project for us was computational all sizes need to rethink their strategies to function. cryptocurrencies and distributed UR We have successfully complet- cas? what you have achieved so far? thinking for kids. We distributed a little robot called achieve success in today’s challenging client- For example, we have tools that pro- ledger technology (DLT), sectors ed our three-year restructuring and Thymio to Swiss schools enabling children to learn centric ecosystem environment. vide a single, centralized overview of where Switzerland is already a transformed the entire group. We are UR The US market has always been MW It all started at the 2015 World Economic Fo- computational thinking in a playful way. “Entire ecosystems compete against each clients who have different relationships global leader? comfortable with the new structure of of key importance for our business. It is rum in Davos. I asked the CEOs of large enterprises other: the local market becomes a global plat- with the bank globally. I believe that five our bank and can now focus our full the home of our investment bank and and institutions like UBS, Swisscom, SBB; EY, Swiss PR Where does Switzerland stand in regard to form, the product-based business model be- years from now, banks will look very UR Many banks started working attention on serving our ultra-high-net- we now have one of the best advisory Post, ETH and Economiesuisse, if they would join an digital technologies and how does it compare to comes a client-service-centric business model, different to today. We may see some with DLT at an early stage to store data. worth and entrepreneur clients globally. investment banking businesses of any initiative with the goal of making Switzerland a leading the Americas or Asia? and competition turns from brand base to an traditional banking roles disappear in Based on our own detailed analysis, we We now have a more resilient busi- European bank. digital hub. ecosystem-based form of competition,” says the future. believe DLT has huge potential, but it is ness and are in a good position to Our global markets business in the They all did. So we started with ten members. Today, MW Switzerland is small but strong and for many Marcel Stalder, CEO of EY in Switzerland. That said, there are still many areas also important to be mindful of the risks operate profitably, even when the cycle US is a sizeable operation — especially digitalswitzerland is proud to have more than 130 com- years has topped indexes for innovation, entrepreneur- “Companies must transform their oper- of banking where the human element involved in terms of cyber-security. turns. in product categories like securitized mitted members. It has become the country’s most im- ship and competitiveness. ational models. The digital future shows remains essential such as providing We are focused on ensuring we have We will take a disciplined approach products and credit generally. portant and effective initiative regarding digitalization. We are global leaders for employing highly-skilled shrinking margins across every industry. foreigners, smartphone use, intellectual property rights, The future will revolve around an integrated Everyone has digitalization at the top employee training, investment risk, pupil-teacher ratio, finance risk capital management system, as Cryptocurrencies: Where smart money and the sharpest brains flock of their list, yet the speed, power and R&D spending, and scientific and technical employ- the digital future will not be in silos — it will strength of change and disruption is ment. We have some areas needing improvement, in- be integrated. Already home to scores of leading blockchain developers and cryptographic Prepared in consultation with various stake- cluding high-tech patent grants, starting a business, IT “Companies need to increase automation, holders, including the CVA, the report indicates still underestimated by many.” and media stock-market capitalization, e-participation robotization, digitalization and significantly companies, Switzerland has become an important hub for key players in this federal officials will not seek to draft and imple- Marc Walder, Founder, digitalswitzerland and immigration laws. decrease costs. Outsourcing, standardizing technology-driven sector as it gears up for rapid global growth ment new legislation for crypto and blockchain and offshoring aspects will be key to cutting issues, but will apply existing laws instead. PR How is digitalswitzerland working with uni- these costs.” “The report is entirely in tune with the CVA’s PR What are some of your most significant proj- versities, young graduates or start-ups? EY has helped to shape the digital future Switzerland’s banking and financial services ciation (CVA) notes: “Crypto Valley is quickly goal to create the best possible framework con- ects and concrete actions right now? of Switzerland for a while as a founding sector not only looks after wealth but creates becoming a global center where emerging cryp- ditions for ‘Crypto Nation Switzerland’,” said MW With ETH Zurich and L’École Polytechnique member of digitalswitzerland and is already substantial revenue for the federal government tographic, blockchain, other DLTs and firms can CVA Policy and Regulation working group MW Switzerland is the world’s most innovative Fédérale de Lausanne, Switzerland has two top-ten among the world’s leading blockchain firms. and the cantons where market players are based. thrive in a safe and vibrant environment. chairman, Mattia Rattaggi. “This approach best economy according to several rankings. We are tech universities. Both are working very closely and This is due to the group’s drive to become The bustling cities of Zurich and Geneva are “Crypto Valley has already attracted dozens represents the principle of technological neutral- working hard to keep it there. We structure our work efficiently with us. This is crucial for our initiative. the first professional services provider to in- undoubtedly the most famous backdrops for of leading cryptographic firms and organizations ity and, crucially, ensures maximum consistency around six horizontals: education and talent, start up troduce blockchain and cryptocurrency. The such operations, with every tenth Swiss franc including Ethereum, Monetas, Bitcoin Suisse, within the current legal framework while keep- enablement, corporate enablement, politico-economic PR In that context, what is your final message company wanted to explore the technology generated directly by the financial sector. With- Xapo, ShapeShift, ConsenSys and Tezos.” ing it principle-based and flexible. environment, public dialogue and international con- to our readers? for itself first and engage its personnel. in the canton of Zurich, the industry accounts “To a large extent, the report also confirms nectivity. “The human factor — and this is import- for the creation of almost every fifth Swiss franc. Widespread support crucial to success what we, in the Crypto Valley community, have Our major projects include Swiss ID, a digital iden- MW Everyone has digitalization at the top of their ant to me — is key in the whole transforma- One of the more noticeable actors in this The industry receives strong support from known for some time — that Switzerland’s reg- tity for people living in Switzerland. With Swiss ID, you list, yet the speed, power and strength of change and tion we are in,” Stalder continues; “How we field, Zug is an increasingly important and pow- local and federal authorities. In December ulatory system is already open and relatively log in quickly and securely to Swiss online services, disruption is still underestimated by many companies, work, what culture we have, how we lead and erful player as it targets the title of Switzerland’s 2018, the Swiss Federal Council published a flexible. These are attributes that have been fun- identify yourself and provide signatures online. governments and institutions. At the same time, the how we recruit, develop and motivate our “Crypto Valley” through blockchain innovation. report detailing the regulatory framework for damental in the Crypto Valley’s emergence as a We also introduced a national Digital Day, which chances and opportunities it offers are bigger than the people is a core factor of success. Technology As industry group the Crypto Valley Asso- cryptocurrencies and blockchain technology. global hub of blockchain innovation.” is unique in Europe. Hundreds of thousands of peo- danger. is only the driver.”

10 For further information please visit www.prisma-reports.com 11 SWITZERLAND The world’s innovation champion SWITZERLAND The world’s innovation champion

‘Made in Switzerland’ stands Medical compression garments for quality and seriousness Photo: S tadler R ail improve health and well-being At home, work or during sports, the latest compression Photo: S hutterstock - Matej K astelic Blending exceptional quality with incredible innovation, garments enable people to enjoy more comfortable lives Swiss-made products have established an outstanding reputation in a very diverse range of fields Stadler trains combine beautiful design with best-in-class technologies Surveys of patients often show that as well as the pain and discomfort from their illness or accident, they Although it teems with well- and modern industries. luxury watches, the country has lines dominate. worry about the impact on their trained human resources, Switzer- The ‘Made in Switzerland’ carved itself an unrivalled reputa- As governments place more Medical technology sector self-confidence and self-esteem. land’s lack of natural resources and brand, which applies when at tion. Swiss exports totalled almost emphasis on green technologies These natural concerns are high costs structure mean it will least 60% of the production costs $300 billion in 2017. and climate change prevention, often triggered by anxieties over never be a mass production hub of a product are realised locally, is Flagship Swiss chocolatiers in- the focus is gradually switching gains international traction their personal appearances during like China or Mexico. undoubtedly one of the most re- clude household names such as from diesel-powered engines to treatments, ahead of operations, Instead, Swiss firms have cho- spected in the world and implies Lindt, Cailler (part of industry more energy-efficient technolo- or post-surgery. Traditionally used sen to concentrate on niche goods impeccable quality and innova- titan Nestlé) but also numerous gies. Benefiting from Switzerland’s advanced education system by elderly people and hospital pa- and on perfecting the technologi- tion. exquisite connoisseur brands like With that in mind, the firm and R&D, the sector shows strong prospects tients, compression garments are cal know-how acquired over many Ranging from gems, metal and Villars, whose exceptional milk launched a new zero-emission now more widely spread among the Andreas Schönenberger decades to produce exclusive, in- minerals to electrical components, chocolates are rapidly conquer- train, FLIRT Akku in late 2018. population, with everyone from air- CEO, SIGVARIS GROUP novative and quality-focused prod- pharmaceuticals and medical ing American palates; fine-bis- The cutting-edge, prototype ver- Regarded as the jewel in Switzer- In the 2018 Swiss Medical line passengers worried about deep ucts in a broad range of traditional products, fine confectionary and cuit-maker Kambly; and dairy-gi- sion of its FLIRT family of electric land’s crown, the fast-growing Technology Industry (SMTI) re- vein thrombosis (DVT), to profes- produces a combined nine million ant Emmi Group whose products multiple-units is equipped with a medical technology (medtech) view, researchers found the sector sional sports stars wearing high- pairs of stockings at plants in na- have found their way onto many battery for use on non-electrified industry is performing to a high mainly involves suppliers (35%), tech lower and upper limb apparel. tions like Switzerland and the US. foreign supermarket shelves. or partly-electrified routes. standard and growing rapidly. manufacturers (25%), specialized While the management of ve- With a focus in three main areas: Innovative Swiss firms are vital Precision timepieces, one of Capitalizing on its revolution- The sector includes more than service providers (25%) and dis- nous and lymphatic diseases re- medical, sports and well-being, the the country’s other emblems, are ary transport technology know- 1,400 companies employing nearly tributors (15%). mains the principal market for com- firm’s product portfolio caters for for driving global development exported for a value of $20 billion how and expertise, Stadler recently 59,000 employees, and generates pression garments, breakthroughs people of all ages and conditions. yearly. Some well-known creators opened a state-of-the-art plant in an annual turnover of $16 billion Medtech firms moving at pace in their design and aesthetic appeal “All of our products have a proven A global leader in manufacturing, Switzerland is bringing include Swatch, Rolex, Breitling, Salt Lake City, Utah. In 2016, the and annual exports of about $11.5 Fueled by high demand in cardiol- mean they are used far more widely medical effect and are based on the latest technologies to life in a diverse range of sectors Richard Mille and Tag Heuer. firm won a near $500-million con- billion, according to industry asso- ogy equipment, medical software, than in previous decades. state-of-the-art knowledge in med- Healthcare is another notice- tract from California’s Caltrain for ciation Swiss Medtech. monitoring and intensive care With roots stretching back over ical science, material science and able field where Swiss enterprises 16 double-deck trains. With a share of 1.1% of all em- equipment, home-care devices, 150 years, family-owned SIGVA- manufacturing technologies,” says One of the reasons Swiss manu- perform very well, driven by mul- ployees, a figure that is the highest diagnostic systems, in vitro diag- RIS Group is a highly-experienced SIGVARIS Group CEO, Andreas facturers are competitive and suc- tinational pharmaceutical names The majority of trains anywhere in Europe, 2.3% of GDP, nostics, orthopedics and surgical medtech manufacturer specializing Schönenberger. cessful is because of their absolute like Novartis and Hoffmann-La in the US are rather 5.1% of total exports and a 13.5% consumables, the Swiss medtech in medical compression solutions “We invest a lot of research in commitment to producing quality Roche, which invest billions in old fashioned, so the trade surplus, this innovative in- industry is constantly strengthen- like stockings and socks. Capital- the yarns and their properties for and their professionalism on all R&D each year to pioneer new dustry is a pearl of the Swiss econ- ing its international competitive- izing on over 150 years’ valuable the patients and consumers. So, all projects undertaken. medicines. introduction of our new omy, Swiss Medtech notes. ness. experience, SIGVARIS Group is an our products are developed in close Goods and materials designed Last but not least, Switzer- double-deck trains will be “Around 10,000 different prod- According to the SMTI study, award-winning designer and manu- collaboration with leading medical or invented in Switzerland are now land’s high-tech industrial giants a real game changer” uct families reflect the diversity Switzerland represents a unique facturer of compression garments. experts in phlebology and lymphol- omnipresent in many industries like ABB, Stadler Rail, Garaventa, Thomas Ahlburg, CEO, Stadler Rail of the field of medical technology. medtech cluster and continues to Noted for its use of double-cov- ogy. Our garments are stylish, ele- and encountered regularly. Exam- Bühler Group and Oerlikon make The spectrum ranges from plas- be an important site for produc- ered yarn, customers include phar- gant and available in many colors, ples include components of cars a huge global contribution with ters, syringes and wheelchairs to tion. Advantages include the pres- macies, chemists, orthopaedic and patterns and compression classes, and aircraft, microtechnologies their state-of-the-art machinery, “We certainly see great potential hearing aids and heart pacemakers, ence of specialized medtech know- medical specialist stores as well as but are always comfortable to help inside computers and electricals, systems and industrial technolo- in the US market, which is why we and culminates in CT scanners how, highly skilled professionals doctors and hospitals. The group people feel their best, every day.” Michael Süss clothing and accessories. Chairman, Oerlikon gies. established a plant in Utah,” says the association highlights. and strong research centers. From mobility to sustainability, Stadler CEO Thomas Ahlburg. “Almost all medtech companies The positive exchange between global technology group Oerlikon With nearly 100 patents a year Swiss rail firms on right track The senior executive is certainly are SMEs, as 93% have fewer than government, public authorities is an innovation leader making filed worldwide, Oerlikon invests Traveling across Switzerland, one very upbeat about his company’s 250 employees. The 7% of compa- and industry, plus the high inno- important contributions to 21st about 4% of its annual total sales can’t help but wonder at the coun- prospects in the lucrative US mar- nies that employ over 250 individ- vative strength of companies, en- century industrial challenges in R&D. try’s stupendous, efficient and reli- ket, as he explains: “The majority uals are mainly manufacturers. ables Switzerland to provide the through its high-tech solutions. The group is preparing to cel- able railway system, and sophisti- of trains in the US are rather old These include Swiss companies best conditions to occupy an im- Present in nearly 40 countries, ebrate the centenary of its US cated trains. fashioned, so the introduction of with global operations such as portant position in the worldwide Oerlikon’s client base includes key operations and will mark another Much of them are the work of our new double-deck trains will Roche Diagnostics, Sonova, Yp- supply of medical devices. “Signifi- LOVE YOUR players in the aerospace, automo- milestone by officially opening a Stadler Rail, an experienced train be a real game changer. This is somed and Straumann. cant growth in sales has continued tive, energy, apparel and industrial state-of-the-art research and pro- manufacturer that is a pioneer of because they are geared toward However, the Swiss medtech over the past few years, at levels LEGS textiles, and agricultural sectors. duction center in North Carolina. new technologies and tailors its the specific market needs in the scene is also strongly influenced well above overall Swiss GDP. Ex- Strong annual growth has been “We constantly launch new and rolling stock to its customers’ in- Silicon Valley area. by the production plants and ports have also increased consid- Graduated compression socks the reward for outstanding work improved solutions and, in a way, dividual needs. “With our quality products, we branches of foreign corporations erably, resulting in above-average & hosiery for men & women in several segments, including sur- cannibalize our existing ones,” If 98% of all lines in Switzerland can contribute to a real quality of like Johnson & Johnson Medical, numbers of new jobs compared to face solutions in the coating and says Oerlikon chairman, Michael are electrified, in the US and many life and we want to expand our op- Biotronics, Medtronic, Zimmer other areas of the medtech indus- sigvaris.com materials technology sphere. Süss. parts of the world, non-electrified erations in the US.” Biomet and B. Braun. try,” the SMTI study highlighted. SIGVARIS is a registered trademark of SIGVARIS, CH-9014 St.Gallen/Switzerland, in many countries worldwide. © Copyright 2018 SIGVARIS, Inc. 12 For further information please visit www.prisma-reports.com 13

FOREIGN_POLICY_AD_86mmx56mmv2.indd 1 12/14/18 2:25 PM SWITZERLAND The world’s innovation champion SWITZERLAND The world’s innovation champion

Swiss luxury goods brands

Switzerland strides out Photo: Bally into the fashion spotlight epitomize style and elegance From precious jewelry and hand-crafted timepieces, to luxury Once only associated with luxury goods, Switzerland is now leather shoes and accessories, Swizterland owns a large slice making a name in popular fashion and various style circles of the global multi-billion dollar luxury goods market

Switzerland’s fashion and foot- wear sectors are like no other, with For eagle-eyed fashion fans of glob- the influence of neighbors Italy, al movie, music, and sports celeb- France and Germany creating a Swiss Army knife maker is leading rities, the news that Switzerland’s unique blend of style and glamour. luxury goods sector is still one For decades a favourite retreat brand ambassador for Switzerland of the strongest in the world will of global movie and music stars, come as no great surprise. as well as the international jet-set, Colorful images of leading stars Bally’s handbags: eternal pieces of elegance Switzerland is also putting on the Considered by many a national displaying their elegance and op- gloss and developing its own suc- emblem and an early example of ulence on their wrist or arm are a quality: 70% of our production is Bally never compromises cessful style-dependent industries. the country’s talent for innova- daily feature of today’s global me- based in Europe, the majority of on quality: 70% of our The luxury goods and apparel tion, the Swiss Army knife is one dia coverage and increasing social which is right here in Switzerland sector, for example, is growing as of Switzerland’s most famous media presence. as well as in Italy. production is based in major international brands set up Alexis Nasard inventions and its popularity re- According to a detailed 2018 “The millennial generation is Europe, the majority of offices and headquarters in key CEO, Bata mains strong. industry survey by global accoun- Frédéric De Narp becoming the most important cli- which is right here in cities. The country is also popu- The proud inventor of Swiss tancy group Deloitte, Switzerland CEO, Bally entele for the industry, and wants Switzerland, as well as in lar with international advertising single digits and profits in the Army knives, family-owned remains one of the most healthy authenticity and fairness. Bally Italy.” agencies, which flock to capture high double digits,” he says. “We company Victorinox is now the luxury goods markets, with three ly developing their presence on represents heritage, quality and its natural charms for backdrops are progressing very well, and our world’s largest manufacturer of companies — Richemont, Swatch e-commerce platforms. all these values. Our company’s Frédéric De Narp, CEO, Bally to eye-catching media campaigns. strategy is delivering results. pocket knives, although its prod- and Rolex — in the top 12. “The barriers to entry creat- culture, ‘The Bally Way’, takes its Perhaps one of the most inter- “Our growth is very broad- uct range has grown considerably Carl Elsener Jr. The trio account for 87% of all ed by the brand heritage and the inspiration from the ‘Swiss Way’.” esting case studies in the footwear based because we are growing in in recent years. CEO, Victorinox 2016’s luxury goods sales for the technical and design excellence of sector, Bata, has expanded from a developed markets and also in de- With a focus on exceptional nine Swiss companies in the rank- the Swiss luxury watchmakers are single workshop in the late 19th veloping markets. We are growing quality, innovation and craft- “The Swiss Army knife is ings of the “Global Powers of Lux- proving very hard to overcome. century to an industry colossus across all channels, we are growing manship, Victorinox never com- strongly connected to the ‘Made ury Goods”, the report revealed. “To succeed in a quickly chang- serving a million customers a day. in retail, we are growing in online, promises on quality, with the in Switzerland’ brand. People “Just as Italy is the global leader ing context and in new markets, Bata has always been at the we are growing in wholesale and company’s product portfolio asked me many years ago why in fashion, Switzerland is second luxury players are increasingly forefront of innovation: from the we are growing in franchise. now including watches, travel we didn’t manufacture outside to none in luxury watch making: shifting focus on digital connec- introduction of mechanized pro- “Our strategy is based on sev- gear, and fragrances. of Switzerland to be more com- Eight out of the nine Swiss compa- tivity, upwardly mobile consumers duction techniques, including the eral pillars. The first is around the Some of this impressive petitive, but customers expect us nies in the top 100 are watchmak- and bold business models.” first steam-driven shoemaking product itself. We talk a lot about growth can be attributed to to manufacture the Swiss Army ers, the report’s authors noted. machines, to the introduction of transformation, but we have to strategic acquisitions, such as knife in Switzerland.” “The strength of their brands Heritage and craftmanship pioneering materials, environmen- keep in mind which business we the 2005 purchase of Wenger Elsener is pleased with the can be seen in their presence in Such a message resonates with tally conscious shoes and high- are in and to keep the fundamen- in a deal that transformed the very positive reaction of consum- jewelers and other distribution leading high-end goods makers tech heels. tals: we are a footwear company firm into the biggest supplier ers to Victorinox’s new products, outlets for luxury watches around such as Bally. One of the world’s With more than 5,000 stores in and offer great shoes. The second of multi-purpose knives to the which has boosted the company’s the world, as well as in their own foremost luxury shoe and acces- over 70 countries, as well as 35,000 is the amazing shopping expe- Swiss Army. brand even further. “Everyone growing store networks. sory makers, the firm produces employees, Bata had the rare dis- rience our channel world offers. The US represents about 20% knows the Swiss Army knife, but “Multiple luxury goods com- upscale collections that include tinction of entering the Guinness And the third is to extend the cre- of Victorinox’s turnover and has it’s hidden either in your pocket pany Richemont, for example, shoes, bags, small leather goods, Book of World Records in 2004 dentials of the brand.” traditionally been a key part- or your bag,” he states. “Our new obtains nearly 30% of its sales ready-to-wear and eyewear. as the world’s largest shoe manu- Acknowledging some of the ner for the company, ever since watches and travel gear have re- from its portfolio of luxury watch An iconic Swiss brand, Bally has facturer and retailer. For the past challenges he and his management American GIs brought the Swiss ally helped us to make the brand brands such as Vacheron Constan- 700 points of sales and a presence three years, Bata has been head- team face, Nasard adds: “Bata is a Army knife home after the end much more visible. tin or Jaeger-LeCoultre. in 64 countries. This success is ed by charismatic CEO Alexis really well-known brand but we of World War II. “Many customers who relied The Swiss luxury goods indus- mainly down to its reputation as Nasard, with the highly-regarded need to add a little bit of glamour “Innovation is really one of on the Swiss Army knife trans- try, and specifically the watch sec- a luxury brand that never compro- marketing guru elevating the com- to it because it’s been missing in Victorinox’s brand values,” con- ferred their trust into these new tor, are on the right path, noted mises on quality and maintains a pany to a new level, despite strong the past few years. “Women no firms CEO Carl Elsener. “The products, so our challenge was to Karine Szegedi, head of fashion focus on those design principles competition from smaller rivals. longer expect to choose between Swiss Army knife is so success- ensure the watches fulfilled their and Luxury at Deloitte Switzer- which have sat at the heart of the Under the impressive stewardship sexy or comfortable. They want ful globally because of its quali- expectations; and they did. land. “The resilience of Swiss brand for nearly 170 years. of ambitious Nasard, Bata is well to look great and they want to ty, functionality, our continuous “The Swiss Army knife is still luxury goods companies comes “Bally is the world’s second-old- primed for further growth, as the feel comfortable at the same time. innovation and openness to new the heart and soul of our brand, down to their positioning in fine est luxury brand,” says CEO talented and approachable senior That is a dilemma we are trying development, and, of course, its but other products feed our watchmaking and their strategy Frédéric De Narp, “and we take executive is eager to explain. to take away. Comfort and tech- iconic design. All our products points of sale and e-commerce of not only being present in most great pride in maintaining a fair “In the past three years we have nology feature very high in our speak a ‘Victorinox language’, platforms while strengthening geographic regions, but also tack- price-point grown our revenues in the mid strategy.” they have a special design. the Victorinox brand.” ling the on-line market by strong- “Bally never compromises on

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An education system that is best in global class

Switzerland’s enviable education system is one of the best in the world, as children EPFL plays a very particular role in the aca- demic world in Switzerland. It is the only school and young people benefit from a strong headstart in life and great universities that combines positive aspects of the European model and of American public universities, with The provision of outstanding educational ser- Switzerland has nine universities ranked in the a track tenure system and general PhD schools. vices from kindergarten to university is consid- coveted QS World University Ranking — a per- “We operate a pragmatic approach, standing ered an absolute birthright in Switzerland, with formance that is even more remarkable consider- on two legs: having basic science on the one citizens and authorities willing to invest signifi- ing the country’s population is just 8.4 million. hand, while moving rapidly into new fields,” says Breitling: from timeless classics to modern masterpieces Photo: © Breitling Villar’s chocolate manufacturing facility in Fribourg, Switzerland cant time and financial resources in learning. Just as impressively, Switzerland boasts ten uni- EPFL president Professor Martin Vetterli. The hugely successful Swiss dual education versities in the overall Times Higher Education “We have the advantage of being a well-funded model is based on apprenticeship, meaning stu- World University Rankings. The highest-ranking public university — a Swiss tradition — which, dents can follow a learning path with an appren- university in Switzerland is ETH Zurich, which together with the entrepreneurship, agility and Swiss watchmakers: Well ahead of their time ticeship, rather than solely an academic route. sits just outside the global top ten. speed of a US university, gives us an edge.” This unique approach ensures teenagers are The largest and oldest university in Switzer- Boasting impeccable quality, technical innovation and style, FH, with demand from the second equipped with the knowledge and skillset to suc- Exceptional education is national pride land, the University of Geneva was established most important export market — Swiss-made watches are an all-time friend for the wrist ceed in academic or technical spheres in many Half of the eight top-ranked Swiss universities nearly half a century ago. Undergraduate and the US — up nearly 20% year-on- different sectors and fields. Universities enjoy make the world’s top 100 for their percentage postgraduate programs are offered across a year during November. Monthly mutually beneficial relationships with businesses of international students and the country ranks broad range of subjects. To achieve its aim of revenue exceeded CHF 2 billion and captains of industry to boost research in var- highly internationally for the percentage of inter- bringing people together, the university works Look at any successful business and consumer trends, but has kept for the first time since October ious fields, facilitate the exchange of information national academic staff members. with major organizations based in the city, like executive, high-profile public fig- its vitality, states Jean-Daniel Pas- 2015, increasing by 3.9%, says FH. and spark new research angles. Underlining the progress made by Swiss uni- the International Committee of the Red Cross. ure or celebrity and the chances che, president of the Federation of Riding this impressive wave in They also encourage technology transfers, so versities and research institutes, technologies “Our access to a very knowledgeable pool of are they are wearing 500 years of the Swiss Watch Industry (FH). demand is Breitling. The 135-year- that they shorten the time between the research co-engineered though L’École Polytechnique experts on international issues, NGO represen- history on their wrist, made in Rolex, Breitling, Longines, old brand renowned for its mascu- and its application and transformation into start- Fédérale de Lausanne (EPFL) enabled paraple- tatives and academics, enables us to innovate in Switzerland of course. Omega, Tag Heuer, Raymong Weil line pilots’ watches is now owned up and commercial use. gics to walk again just recently. such areas,” states rector Yves Flückiger. Considered the finest in the and Vacheron Constantin, are only by London-based private equity world, the Swiss luxury watch a few of the many famous Swiss group CVC Capital Partners, and industry has its fair share of chal- watchmakers. is in the midst of a transformation. Georges Kern lenges, from combating counter- Such major players enjoyed a “For many years, Breitling was CEO, Breitling IMD: Transforming organizations by developing their leaders feits to fitting in new commerce strong end to 2018, according to clearly positioned in the field of aviation and was one of the most and finally, yet importantly, we A leading business school for executives and a powerful successful firms producing pilot’s have globally launched our new watches,” states CEO Georges squad-on-a-mission-communica- catalyst for change Swiss chocolatiers embody Photo: © I M D Kern. “There are many legends tion campaign featuring Brad Pitt, Switzerland’s capacity for innovation such as Sean Connery, Miles Da- Charlize Theron, Stephanie Gilm- vis, Serge Gainsbourg or Jack Bra- ore, Kelly Slater and many other Named by The Financial Times ham who loved our watches. outstanding personalities.” as the world’s best business The wonderful taste and aura of fine Swiss chocolate is “Based on this rich heritage, Breitling’s sophisticated pieces school for open programs seven unmistakeable, as robust global demand clearly shows we have redesigned our corporate are increasingly popular across the years running, thanks to its out- identity, reduced the complexity of Atlantic, as Kern explains: “The standing executive education, the product portfolio, entered into US is our No.1 market. We have IMD is in a class of its own. While not producing any cocoa of its own, the country is one of the largest new global partnerships represent- a phenomenal brand awareness As the global expert in devel- chocolate producers and has the highest per capita chocolate consump- ing the segments of air, land and and image and are among the four oping leaders of today for tomor- tion in the world. sea — broadening our positioning, most successful watch brands.” row, and transforming organiza- Consumers across the country, as well as chocolate connoisseurs in tions to create ongoing impact, many other countries, are purchasing the finest chocolate in many dif- IMD educates over 9,000 execu- ferent forms, including in compositions such as powder for hot drinks. tives annually from 100 nations. “The basis for this success is the consistent orientation of chocolate In addition to its campus in manufacture towards high quality standards” notes the industry associa- Lausanne, Switzerland, it is sup- Jean-François Manzoni tion Chocosuisse. “This includes the selection and processing of the raw ported by a modern learning cen- President, IMD IMD’s vibrant and busy campus in Lausanne materials, constant improvements in the manufacturing process, and the Photo: © C aran D ’ A che ter in Singapore. IMD’s range of training of skilled employees and specialists, who practise their profession innovative courses, services, and senior management and employ- and ranking their performance. their own practices and their with passion and know-how.” tailor-made programs include ees to address challenges them- “Our core mission is to de- beliefs, because ‘what got them Indeed Swiss chocolatiers are known to use only the finest cocoa, milk leadership training, an MBA, Ex- selves by developing and testing velop leaders and to transform here’ will likely not be sufficient and sugar: “Thanks to the quality of its production and processing, Swit- ecutive MBA (EMBA) and exec- new ideas, IMD helps facilitate organizations, in a way that is in- to guarantee future success. zerland has become one of the leading chocolate producers,” explains Urs utive coaching. Working togeth- the execution of the most prom- tended to have a positive impact “Prices in Switzerland are Furrer, CEO of Chocosuisse. er with top organizations and ising recommendations through- on society,” says IMD president, high, which forces companies to “And when we talk about ‘Swiss’ chocolate, we talk about chocolate that senior executives, IMD brings out the broader organization. Jean-François Manzoni. “We are be even more productive. An em- has been fully produced in Switzerland and then exported. insights, tools and mindsets that IMD operates several world- resolutely international in our ployee in Switzerland has to be “Swiss research institutes are very active and have strong cooperation help organizations deal with real class specialized centers, of outlook and reach. Our role is to as effective and efficient as two with industrial companies. This leads to practical results, sizeable R&D issues and challenges to enhance which the best known is the help leaders remain as effective to three employees elsewhere and enables continuous innovation in the chocolate industry. We must learning and create a beneficial IMD World Competitiveness and as efficient as they can, as for the same cost. That creates a remain innovative and aware of sustainability; on visits to farms and pro- business impact. Center — a pioneer in the field standards are rising every day. constant pressure and represents ducers, one sees the changes and progression in projects.” Caran d’Ache limited edition Swiss Wood pencils By empowering companies’ of the competitiveness of nations “We help them to question a challenge, and an opportunity.”

16 For further information please visit www.prisma-reports.com 17 SWITZERLAND The world’s innovation champion SWITZERLAND The world’s innovation champion

ETH Zurich: The benchmark Talent and the Swiss economy Joël Mesot, newly appointed president of ETH Zurich — the continues to drive innovation and he joined the Paul Scherrer Institute for education and innovation evolve the future of work, develop- (PSI). In 2008, the Swiss Federal Swiss Federal Institute of Technology in Zurich, Switzerland ing and attracting new talent pres- Council appointed him as director — describes how talent drives a thriving economy ents important challenges, such as of the PSI, and he has also held ordi- Lino Guzzella, former president of ETH Zurich, explains why improving diversity and inclusion. nary professorships at ETH Zurich it is one of the world’s most innovative universities Enabling talented people to and École Polytechnique Fédérale Switzerland consistently ranks as adapt to new technologies and an de Lausanne. the top country in the world for at- ambiguous future requires agility ETH Zurich focuses on society’s tracting and retaining talent. With both as educators and as learners. ETH Zurich plays a critical needs and the fields of data, med- few natural resources, it invests ETH Zurich plays a critical role in role in Switzerland by icine, sustainability, manufacturing heavily in developing its home- Switzerland by ensuring its curricu- ensuring its curricula technologies and critical thinking. grown talent and enticing some of la reflect the skills and competencies reflect the skills and that meet the needs of society both Can you provide some back- the world’s leading academics. This Photography: Paul S cherrer I nstitute competencies that meet ground to the university? formidable talent pool — diverse in now and in the future. ETH Zurich was created in 1855 by both culture and discipline — is well Such competencies do not thrive the needs of society.” the young Swiss federal state in a phase equipped to face the world’s most on sheer talent alone but through Joël Mesot, of strong industrial development. Our significant challenges head on and the encouragement and develop- Current President, ETH Zurich main and most direct contribution to Photography: ETH Zurich/Gian Marco C astelberg their talents contribute substantial- ment of critical thinking in a fail- ure-tolerant culture. On his appointment, Mesot said: society is the education we provide our ly to a thriving Swiss economy. Joël Mesot Photography: ETH Zurich/ A lessandro D ella Bella students. We graduate around 2,500 On 1 January, physicist Joël Me- Current President, ETH Zurich A highly respected talent himself, “I will be working alongside the ex- students each year who are educated sot assumed leadership of one of the Mesot brings a strong background ecutive board to focus our energies ty’s broad portfolio of fundamental in technology, science and research in ensuring that ETH Zurich and to the highest level available worldwide. Lino Guzzella world’s top universities. As the new- ETH Zurich also consults and works Former President, ETH Zurich ly appointed president of ETH Zu- and applied research, 1,500 industry to his new role. For his earlier re- the ETH Domain are able to sustain with different industries. Over the past rich, Mesot — a highly experienced partnerships and an average of 25 search, he was awarded the IBM the impressive level of development 20 years, we have launched approxi- erate and work with businesses of all Higher Education World Academic term as ETH Zurich president. academic and multilingual leader spinoff companies each year. Prize by the Swiss Physical Soci- they have enjoyed in recent years. mately 400 spinoff companies and the sizes. Partnership councils represent Summit. We offer faculty and research- What will be your legacy? — will bear the profound respon- Mesot and the Swiss Federal ety and the Latsis Prize by ETH The Swiss approach for developing value of their initial public offerings, one successful form of cooperation (for ers the best conditions to develop their My biggest contribution is having sibility of hiring some of the most Council that appointed him un- Zurich. He grew up in Geneva, talent, transferring knowledge and mergers and acquisitions is more than energy, security and mobility among talents. We believe in them and give contributed to hiring some of the bright- talented scientists, engineers and derstand the value and impact of completing a degree in Physics and contributing to the economy serves $2 billion Swiss francs (CHF). other things) to which we invite inter- them trust, time and resources to pur- est people in the world. To give you an architects in the world. Their com- knowledge transfer on society and graduating from ETH Zurich. Fol- as a model to which other countries ested companies. We regularly present sue their ideas — maybe they are crazy, example, I hired Alessio Figalli, who bined research inspires the universi- economic growth. As technology lowing stays in the US and France, can aspire.” ETH Zurich is 7th in the 2019 QS our latest research to them and discuss but they may also change the world as recently won the Fields Medal for Math- World University Rankings, has developments to foster a privileged rela- Albert Einstein did. We want more Ein- ematics — equivalent in prestige to a over 20,000 students, including tionship. Companies can leave a coun- stein-level research. Nobel Prize. Many of these people are 4,000 doctoral students, from over cil and form a joint venture with ETH young but in 10 years they will shape 120 countries, and has produced Zurich to pursue a project separately. Can you tell us about the ETH+ ini- the scientific or technological landscape 21 Nobel Prize winners. Why is it We have a Tech Transfer and Industry tiative you launched in 2017? of the world. We have also redefined the so successful? Relations office that deals with intel- ETH+ is very exciting. Universities university’s strategy by emphasizing two Funding is one key factor. Our bud- lectual property issues, supports the have to have clearly defined disci- new fields: data science and medical get is roughly CHF1.9 billion, around creation of spinoff companies and helps plinary foundations to be productive. science. ETH Zurich needed to be more 70% of which comes from the govern- researchers cooperate with industry. ment. Openness is the second factor: Generally, we rely more on bilateral Over the past 20 years, we have launched approximately we look for talent all over the world and relations with companies — if you are also open to ideas, innovation and really are the frontrunner, the biggest 400 spinoff companies.” change. The third factor is autonomy: companies will come to you. The fact Lino Guzzella, Former President, ETH Zurich individual faculty members determine that Google’s biggest research and how to spend their own funding. development (R&D) center outside the However, compartmentalization makes involved in medicine and has created a In addition, you cannot be a top US is in Zurich and that Microsoft, IBM it very difficult to communicate across medical school program. We have in- university without being globally con- Research Zurich, Disney Research, Ap- departments and disciplines. Exchang- troduced the “mathematization of medi- nected. We provide our faculty mem- ple and other ICT companies have R&D es among fields encourage innovation cine”, which will be one of the big ideas bers with the means and the access to activities here is no coincidence. Such and real breakthroughs. So, essentially, of the future. It is already globally rec- our truly international network of 9,000 strategic activities have a lot to do with ETH+ is oriented to bringing diverse ognized as one of the most interesting research contacts worldwide. In the US, ETH Zurich’s reputation and talent pool. academic disciplines and talents to- experiments in medical research and we we have connections with over 1,400 gether. A year ago, our community pro- have had excellent success so far. Where Talent Thrives! universities, 170 research institutes, How do you attract international posed hundreds of ideas to stimulate The biggest individual idea that we 20 non-governmental companies, 52 students and talent? cross-disciplinary discussion and we have brought to the forefront is our “There is hardly any other place public authorities and 133 industries. Excellent professors attract talented funded nine. The ideas ranged from se- Critical Thinking Initiative. We need to In addition, we established the Singa- students and researchers who, in turn, curity and privacy in the digital society educate the next generation of scientists that offers the resources that ETH Zurich pore-ETH Center for Sustainability in increase the attraction of the university to a platform for robotics to help devel- and engineers at the highest possible does to conduct my research.” 2010 in close collaboration with Sin- for future professors. It is a self-reinforc- oping countries and medical applica- levels in science, engineering and tech- gapore’s National Research Foundation. ing process. We also participate in road tions. It has been a big success and we nology. But they also need to be critical Margarita Chli, Head of the Vision for Robotics Lab shows: ETH Zurich exhibits at the World have plans for second and third rounds. and creative thinkers and we have cre- How does ETH Zurich work with Economic Forum’s annual meeting in ated many ideas to foster the transdis- → www.ethz.ch/en the private sector? Davos, for instance, and in September In 2018, you announced that you ciplinary components that are important

We have a variety of ways to coop- 2019, ETH Zurich will host the Times would not be seeking a second for educating the leaders of the future. Illustrierte Geri Born / Schweizer Photography:

18 19 SWITZERLAND The world’s innovation champion SWITZERLAND The world’s innovation champion

Universities reinforce country’s When public operators delve deep into digitalization to break reputation for R&D excellence new innovation frontiers the results are highly impressive

According to the statistics body of UNESCO, Switzerland From drones swooping down from the sky with urgent blood “private blockchain” in Switzerland Excellence in innovation is also a ranks in the top five of 161 countries and territories when to be operated jointly by partners. feature of national railway operator samples, to smart transport solutions, Switzerland’s publicly it comes to relative spending and investment on R&D It offers a solution that differs from SBB, as the firm transforms into a controlled enterprises are pushing technological boundaries other private blockchains in some sustainable mobility company. key areas. In conjunction with transport Despite wobbles in the global Other major Swiss companies partners BLS, Schweizerische economy in recent years, Swiss to make the prestigious list were Professor Christian Leumann Professor Thomas Bieger Vital publicly owned service provid- risk and sometimes it doesn’t go Safety/security as standard Südostbahn (SOB), Rhaetian Rail- companies have been undeterred confectionary major Nestlé and Rector, University of Bern Rector, University of St.Gallen ers in Switzerland are not just sitting well,” says Swiss Post’s head of de- The data will remain completely way and the Swiss Association of from massive investment in R&D, engineering group ABB. on the sidelines and observing the velopment and innovation, Claudia within Switzerland and the infra- Public Transport (VöV), SBB is with this positive trend highlight- “Large investments alone are tercultural knowledge, and politics digitalization drive from afar. Pletscher. “You need to keep moving structure meets the high security working to make the railway fit for ed by a late 2018 industry study not enough for innovation,” says and administration. St. Gallen Instead, key national operators and also stay self critical, not rest on requirements of banks. the digital future. from global accountancy group Peter Kasahara, partner and leader Ranked among the best in the are highly engaged and enthusiastic your laurels. Through this close coopera- With SmartRail 4.0, SBB is using PwC. of PwC Digital Services from PwC world, the university is attended embraces R&D participants in a series of exciting “We are using autonomous tion, Swiss Post and Swisscom new technology, digitalization and According to the comprehen- Switzerland. by more than 17,000 students, projects and initiatives aimed at drones to transport blood samples are connecting their existing automation to design future smart sive survey of the world’s largest “It requires a deep understand- including about 2,200 students streamlining important services and between hospitals, which enables private infrastructures for block- mobility, which will be simple, per- corporate R&D spenders, the big- ing of the needs of consumers and from abroad, who benefit from a As one of Europe’s leading structures. us to deliver laboratory results in a chain applications. sonal and connected. gest Swiss firms invested a com- focusing research projects on the strong network. business universities, the Uni- Examples can be found in many few minutes as opposed to the 45 This private blockchain infra- Long-term objectives include bined $27.5 billion in R&D during right core areas.” “The University of Bern has versity of St. Gallen is dedicat- different sectors as companies strive minutes that it can take. We operat- structure requires far less energy, integrated automated planning been very active in space research ed to pushing innovative ideas to add value for money for millions ed more than 2,000 flights between since it can only be used by iden- and control centers, flawless safety Large investments alone are not enough for innovation. It for more than 50 years,” states rec- off the drawing board and into of residential and commercial cus- hospitals last year. tified users who have a contractual systems, full monitoring of railway requires a deep understanding of the needs of consumers tor, Professor Christian Leumann. tangible reality. tomers. Swiss Post, for example, is “Customers have become more relationship with the providers of an operations, high-data transmission and focusing research projects on the right core areas.” “We were directly involved To serve as a conduit for much more than a traditional post and more digital, mobile and indi- application. capacity for rail traffic and automat- in the Apollo 11 mission with a office, it is also an innovation driver vidual. This forces us to offer them This enables more efficient ic train operation (ATO). Peter Kasahara,Partner and Leader PwC Digital Services, PwC Switzerland such new ideas, the university scientific experiment — a solar established a “spin-off” label, and a diversified group that operates more and more flexibility.” agreement procedures as well as “A decade ago, we were simply a sail which was rolled out on the which helps promote SMEs in logistics, communication, retail This point was clearly underlined significantly higher security and railway operator, but today we are a the 12-month period covered by Ensuring the next generation moon even before the US flag was that have a connection to the financial services and passenger in late 2018, when Swiss Post and performance. This is an important mobility company. We are an area the report. of researchers has the skills and placed. institution. transport. government-owned telecoms titan prerequisite for many companies to developer and a highly trustworthy Unsurprisingly, proudly flying knowledge to succeed, the Univer- “We have since contributed In only a short period of Swiss Post epitomizes the Swiss Swisscom formed an alliance to launch their own applications based mobility solutions provider on dig- the Swiss flag in the comprehen- sity of Bern is a significant contrib- towards other important space time, more than 120 companies quest for research and innovation, build a simple, secure and sustain- on blockchain technology. ital platforms,” comments CEO sive R&D study were pharmaceu- utor in terms of research. exploration projects, for example, have been awarded the distinc- and is spearheading the use of able infrastructure for blockchain Swiss Post and Swisscom are Andreas Meyer. tical giants Roche and Novartis, Its five main research areas are: with a high-resolution camera tion. In a survey, 64 of those self-driving buses, and even drones applications. thus creating attractive advantages “We are spearheading the devel- who ranked eighth and 12th, re- sustainability, health and medi- that flew on missions to Mars and companies had created more to urgently deliver blood samples. The pair will use this to operate for companies in all sectors and, opment of the railway systems to spectively. cine, matter and the universe, in- Venus.” than 2,800 jobs and recorded “You need to have courage to go their own blockchain services. Such therefore, also for Switzerland as a bring them into a new dimension a combined annual turnover of into new areas, because it is also a infrastructure is the first so-called business location. with a real quantum leap.” CHF 100 million. “We have more than 30 re- Hospitality management university EHL pioneers new era search institutes and over 100 student initiatives, all operated Blending excellence in academia with world-class culinary Our strategy is to remain open to like little independent compa- new continents and increase our nies,” states University of St. and hospitality training, EHL boasts the right ingredients international reach,” states EHL Gallen rector, Professor Thom- Group CEO Michel Rochat. as Bieger. One of the best hospitality man- students, professionals and firms “Our next step is to open cam- “We have a fully fledged agement schools in the world, to shape the future of hospitality. puses in Asia and Africa. We are founder garage together with Ecole hôtelière de Lausanne Having recently celebrated its based in Switzerland but have a the city and the University of (EHL) is an award-winning pio- 125th anniversary, EHL’s track strong international outlook and Applied Science, and we also neer in hospitality education with record of success is built on will soon have an Asian campus. operate a business incubator. its innovative model blending aca- strong roots and tradition, yet the “When we have a campus on “Our university’s motto is demia and hands-on learning. university is eagerly embracing those two continents, we will be ‘from Insight to Impact’. We As the first hotel school in the change and innovation too. With rooted in the local economy. We continue to strive to be an in- world, EHL invented the methods the boom in global tourism num- will be alert to new, local infor- stitution that produces leading that gave Switzerland’s hospitality bers not slowing, the worldwide mation and will be able to im- research and provides insight. management schools a reputation hospitality industry will see huge prove the quality of education “The second step to that, the for excellence and has shaped over growth and change over the next and strengthen our international impact, is making sure we keep 25,000 hospitality managers. few years: EHL is planning to ride ties, and find innovative ways to a foot in relevant topics, that An independent business school With industry collaboration this wave and innovate to keep transfer knowledge between cam- our teaching methods rise to and research, EHL continues to abreast of such developments. puses. Due to our consulting firm the challenges of the 21st cen- with Swiss roots and global reach bring innovation to the classroom “The tourism market is grow- Lausanne Hospitality Consulting tury and that we communicate www.imd.org ® and industry. The school offers ing at incredible pace — roughly (LHC), we have a high level of what we learn to the communi- REAL LEARNING. REAL IMPACT programs and services to prepare 5% per year for the next decade. agility in entering new markets.” ty at large.”

20 For further information please visit www.prisma-reports.com 21 SWITZERLAND The world’s innovation champion

Switzerland’s tourism sector tangoes with sustainability Palace H otel Photography: Badrutt’s

Switzerland’s national tourism agency sums up the dilemma in a nutshell: where to go next? There is so much to see and do, that many visitors find one trip is not enough to enjoy everything

Switzerland’s natural beauty is almost unmatched and with so The gorgeous Badrutt’s Palace Hotel in St. Moritz is a legendary luxury landmark much to discover, millions of visi- tors return year after year to expe- sports destination, more than just needs, saves 400,000 liters per year rience and enjoy new adventures. a magnet for countless celebrities, of heating oil and reduces the ho- Winter sports like skiing and artists and aristocrats — it’s a tel’s carbon dioxide emissions by snowboarding are hugely popular unique Alpine metropolis.” 1,000 tons per year. activities for young people and The town’s legendary landmark “Environmentally friendly be- families who wish to spend quali- is the luxury Badrutt’s Palace Ho- haviour is becoming more and ty time on the slopes of majestic tel, which blends impeccable ser- more important. With projects mountains. vice and attention to detail with The range of options during glamorous atmosphere. The project is no longer spring and summer is even broad- The hotel’s star-studded history considered as a utopia or er, with hundreds of walking paths, Samih Sawiris has seen Hollywood stars and ce- hiking trails and cycle routes serv- Chairman, Andermatt Swiss Alps lebrities among the famous faces a crazy project that is not ing up stunning views of lakes, to grace its rooms and halls. For- going to happen; but as a snow-capped peaks and vast tran- Considered the number one Al- mer guest and master of suspense, reality.” quil forests. pine holiday destination for factors Alfred Hitchcock, even has a luxu- Samih Sawiris Complementing these breath- such as its views and activities, the ry suite named after him. Andermatt Swiss Alps taking natural assets is the famous Winter Olympic Games has been As part of their deep commit- Swiss hospitality and incredibly held in St. Moritz twice. ment to environmentally-friendly like this, St. Moritz has the op- rich culture soaked in history and technologies and equipment, the portunity to be perceived not only tradition — from mouth-watering ‘Unique Alpine metropolis’ five-star hotel extracts water from as a luxury destination but also cuisine to distinct fashion. Indeed, the local tourism body the nearby St. Moritz lake and as an environmentally conscious According to Switzerland’s echoes the view of many when it uses an energy-efficient heat pump place,” said Richard Leuenberger, Federal Office of Statistics, the says: “St. Moritz is more than just system. The heat pump plant cov- managing director of Badrutt’s hotel industry enjoyed strong sin- a spa town, more than just a winter ers 80% of the hotel’s total energy Palace Hotel. gle-digit annual growth in the first half of 2018, with more than 18.4 million overnight stays recorded. International visitors comprised Giant ski resort Andermatt takes shape in the heart of the Alps nearly two-thirds of that impres- sive figure. In a clear display of the confi- 28 chalets, business convention longer considered as a utopia or a The tourism industry is mas- dence major international inves- facilities, indoor pool, and a chal- crazy project that is not going to sive, and generates around 10% of tors have in Switzerland’s tourism lenging 18-hole golf course. happen; but as a reality. GDP and provides employment to sector, the Andermatt Swiss Alps Andermatt Swiss Alps relies on “We are currently adding the hundreds of thousands of people is a luxury new resort in the vil- Orascom Development Holding third resort, Disentis, which will directly and indirectly. lage from which it takes its name. as a strong partner with extensive enable us to cover three valleys As in other natural-resource The flagship project of well- experience in the development of in Switzerland: Andermatt-Se- dependent sectors, Switzerland known Egyptian businessman, integrated holiday destinations. drun-Disentis. It will then be one is committed to the sustainable billionaire and philanthropist, Sawiris concedes it took the of the biggest ski destinations in development of the tourism in- Samih Sawiris, the integrated company a good few years to con- Switzerland. dustry, as are the thousands of ho- holiday destination will serve as a vince the market and investors “We will add more and more teliers and service providers whose year-round holiday destination in that the scale and size of the proj- features and facilities to continue livelihoods depend on its success. the heart of the mountain range. ect could be achieved and would developing the resort as a world- Switzerland’s most famous year- Once fully built and open, thrive over the next few decades. class destination and as Switzer- round resort, the mention of St. guests will have the choice of “Now we have built two hotels land finest destination. Moritz immediately conjures up staying at half a dozen four and out of the six, which proves that “One of the greatest advantag- images of the world’s international five-star hotels. The ambitious it can be a success,” smiles the es is proximity to international jet-setters relaxing by the pool or project features approximately. chairman of Andermatt Swiss airports like Zurich, as this en- donned in the latest skiwear. 500 apartments in 42 buildings, Alps. “Today, the project is no ables easy access to the resorts.” Photography: A ndermatt S wiss lps 22 SWITZERLAND The world’s innovation champion

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