When it comes to healthcare, Switzerland has made a name for itself in the life science sector with Novartis and Roche, and serving as the headquarters for others such as Abbott and Bayer. It has also subsidized research institutions focused on AI and digital health. With an economic development initiative in Texas, the country, which remains outside of the EU, seeks to foster closer business ties with the Lone Star State.
“Switzerland’s prominent reputation in both life sciences and technology innovation provides the perfect conditions for new digital applications in the healthcare sector,” said Christoph Besmer, Trade Commissioner, Head of Investment Promotion, Swiss Business Hub USA.
“Home to global leaders such as Roche, Novartis, MSD Merck, Google, Apple, and IBM who invest heavily in cross-industry R&D, Switzerland is where companies put new ideas into action, thus amplifying the trajectory of fields like digital health and personalized medicine,” Besmer added.
In the run-up to the MedCity INVEST Digital Health conference, Besmer talked about the “X Marks the Spot” campaign and how Swiss Business Hub USA hopes to strengthen ties with health tech companies.
What does Switzerland Global Enterprise do?
Switzerland Global Enterprise is the official Swiss organization for export and investment promotion with offices throughout Switzerland and in 31 countries. The Swiss Business Hub USA serves as its antenna in the United States.
Christoph Besmer
We actively promote Switzerland as a highly attractive business and investment location for U.S. companies looking for growth in Switzerland and in Europe. The Swiss Business Hub proactively contacts and informs U.S.-based companies about the key advantages of Switzerland as a business and investment location. In close collaboration with cantonal and regional representatives as well as private-sector partners, the Hub supports foreign investors with the following services: communicating Switzerland’s unique selling points that relate to their business and industry; facilitating contact with regional and cantonal economic development agencies; connecting with research centers and universities; meeting legal and administrative requirements; obtaining work and residence permits; defining the ideal corporate structure and explaining the Swiss tax system.
Why Texas?
We see significant potential in several industry verticals where both Texan companies and Switzerland are world leaders. There is a shared desire to innovate and truly thrive in business and in life. We share a “can-do attitude” that makes us a great match. Our team is looking forward to connecting with you. Our key objective for our “X Marks the Spot” Campaign is to create awareness about Switzerland as a preferred location for Texan businesses to be Xtra and thrive. Check out www.xmarksthespot.ch for more information about our campaign.
Is the idea cross-pollination between U.S. and Swiss businesses? Partnerships between US and Swiss healthcare and life science companies?
Yes, we strive to build bridges and establish relevant connections and show new opportunities for growth and success for U.S. and Texas-based companies.
What types of healthcare/life science companies or organizations, such as hospitals, are a good fit for your organization?
We are interested in having discussions with companies whose business plans call for international growth in the near future. This can be early stage as well as more mature companies. Companies are usually interested in learning more about research and development opportunities, the setup of a sales office or an international headquarters structure.
Switzerland is the most competitive business center in the world. There are numerous good reasons to locate a business in Switzerland: innovation and technology, a liberal economic system, political stability, close links with foreign markets, excellent education and healthcare systems, an outstanding infrastructure, a high standard of living, and a competitive tax system.
Have you pursued similar initiatives in other states? If so, where? Any other states in the pipeline?
We work with many different companies throughout the United States. Sometimes we organize roadshows where we connect with companies in various cities.
Would you like to see more U.S. companies expand to Switzerland or is it vice versa?
Yes, it goes both ways. There is a lot of potential for cross-fertilization. The Swiss Business Hub USA provides localized support, market information, consulting and networking services to Swiss companies venturing into the U.S. market. An experienced team of trade commissioners stands ready to support inquiries of all kinds and serves as a first-hand local contact for companies — new and experienced — in the U.S. market.
The Hub’s services include:
- Market information and support
- Detailed market and product analysis
- Search for distributors, local representatives and partners and support for the establishment of communication channels
- B2B / B2C sales pipeline development
- Individual consulting and coaching of SMEs
- Site location evaluation
- Organization of events and fact-finding missions for Swiss companies, associations and official delegations
The Swiss Business Hub USA has identified specific areas of interest. These include but are not limited to: life sciences, information and communications technology, fintech, food and beverage, fast moving consumer goods, and MEM, as well as cleantech.
Switzerland has several initiatives to enable AI in healthcare such as the University of Bern’s Center for Artificial Intelligence in Medicine. Could you talk about this and other AI in healthcare initiatives?
Indeed, Switzerland is home to world-renowned universities and research institutes in the area of AI. This proximity to cutting-edge research is an important reason why global tech companies such as Google, IBM, and HPE conduct their research from here. Innovation in health tech is one of the areas where the country strives.
Switzerland boasts a high number of leading AI research institutes spread out over a manageable geographical area. This close-knit network and pragmatic collaboration between key research institutes and strong industrial players results in the highly efficient transfer of technology, which brings innovative products to the market quickly. In relation to its population, the country holds the third highest number of top AI patents worldwide.
Switzerland is a location of contrasts, standing for emerging technology as well as traditional values such as trust and safety. Its stable political and economic environment offers globally active companies a safe place to host and validate their data. The combination of high data security and data quality, political stability, and legal certainty leads to reduced risks for companies.
Are there any collaborations with U.S. companies and universities that you are particularly excited about?
There are numerous partnerships between the private sector and institutions of higher learning. Switzerland is home to world-renowned universities and research institutes in the area of AI, such as the two federal institutes of technology ETH Zurich and EPFL in Lausanne, IDSIA in Lugano, IDIAP in Martigny, and many cantonal universities. This proximity to cutting-edge research is an important reason why global tech companies such as Google, IBM, and HPE conduct their research from here. Thanks to its traditional strength in the field of life sciences, Switzerland also drives AI developments in healthcare and pharmaceuticals. There is a closely-knit tech ecosystem in place that brings innovative products to the market quickly.