SWITZERLAND: the World's Innovation Champion

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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 tein Prisma Report wishes to thank Contents S its esteemed partners for their Switzerland at a glance Innovative economy hutterstock - Peter contribution to this publication S 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: 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. 2 For further information please visit www.prisma-reports.com 3 SWITZERLAND THE WORLD’S INNOVatiON CHAMPION SWITZERLAND THE WORLD’S INNOVatiON CHAMPION 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- mperorcosar. nation is busily reinforcing its E 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 hutterstock 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 S and services worth at least $100 fact that we attract the best tal- tors and regions. to always score higher, better and Photo: 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
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