SwissInfo has posted a great interview with Stéphane Garelli (head of the IMD World Competitiveness Center) where he discusses innovation in Switzerland. (thanks to Andy Ryan at 3baysover for the pointer)
It’s really worth reading the whole interview, but here’s my summary:
1) lack of growth capital (he thinks there’s enough seed capital)
2) lack of ambition (focus on work/life balance)
3) small local market (compared to eg. the US) makes it difficult to get to critical mass to then go big
4) focus on small scale high added value & not big manufacturing
5) being risk averse is in Switzerland’s DNA
The interview is in response to the recent KOF innovation study which show Swiss innovation as healthy but that other European countries are catching up (especially Findland & Belgium) or overtaking (Denmark).