The FONGIT Innovation Fund (FIF), a critical driver of innovation in the canton of Geneva, has announced its recent endorsements, with four start-ups walking away with significant backing. The awards serve as a testament to the diverse technological landscape in Geneva and the broader Western Switzerland ecosystem’s commitment to the United Nations’ Sustainable Development Goals (SDGs).
Established to spur innovation and scale up promising companies, the FIF’s focus aligns with the UN’s SDGs. With the backing of the State of Geneva, the Geneva Foundation for Technological Innovation (FONGIT), Geneva Chamber of Commerce (CCIG), the UN International Trade Center (ITC), and the UN Environment Agency, the fund has consistently recognized and supported technological startups and SMEs at varying developmental stages. Through its three-pronged financial mechanism, the FIF offers the FONGIT Scholarship (up to CHF 50,000), FONGIT Seed Loan (up to CHF 100,000), and FONGIT Growth Loan (up to CHF 400,000).
Among the four new recipients of the FIF, Resolve SA received a growth loan of CHF 100,000. This fintech has crafted a unique platform bridging private borrowers with financial institutions, spanning mortgage financing to tax planning. With a staff of 50, Resolve maintains its headquarters in Geneva and has marked its presence across Switzerland.
DroneControl Sàrl, a frontrunner in secured live broadcasting for emergency services using drones, was awarded a seed loan of CHF 100,000. Their technology offers real-time connectivity from incident sites to command centers globally, currently serving security and rescue operators across Europe.
EarlySight SA, stemming from the Swiss Federal Institute of Technology in Lausanne (EPFL), also received a seed loan of CHF 100,000. Their specialty lies in cutting-edge imaging tools for healthcare professionals, enabling the detection of disease effects that often elude standard methods.
Lastly, ArtemiX Biotech SA, an early clinical-stage project collaboratively helmed by the School of Pharmaceutical Sciences at the University of Geneva and Lausanne’s University Hospital, received a CHF 50,000 grant. The start-up is deeply entrenched in innovating treatment methodologies for chronic kidney disease.
The FIF board convenes multiple times a year to review and fund start-ups. Those aiming to tap into this opportunity should note the next application deadline slated for 7 November 2023.