WayRay’s innovative product is a holographic automotive navigation system that makes driving easier. The system uses AR windshield image projection, so a driver can see useful information (including traffic direction signs, current speed, etc.) right above the surface of the road. In 2017, the company plans to start selling an aftermarket solution, called "Navion". Then WayRay will offer an embedded version of its product to car manufacturers. In 2014, the startup opened its international office in Lausanne, canton of Vaud, in order to get access to global market. The company’s R&D facilities are located in Russia and its products are assembled in China. To best protect its knowhow, WayRay is planning to transfer the most critical stages of production to its new factory that will be opened in Switzerland in 2017.
Switzerland: neutrality and collaboration
There were multiple reasons for WayRay to choose Switzerland. It included the factor of political neutrality and well-established trading relations with the majority of global markets. China and the US are among the key markets for WayRay, therefore the company was particularly interested in active double taxation agreements when choosing the location for its international office. The proximity to leading European R&D centers, including the ones in École polytechnique fédérale de Lausanne (EPFL) and Swiss Federal Institute of Technology in Zurich (ETH) allow for the conduction of R&D activities in Switzerland in addition to those existing in Russia. By settling down in Switzerland the company better benefits from the country’s reputation when attracting additional investors.