The government welcomes the Federal Government’s support for start-ups

22/04/2020 (18:19)
Press release

The government council of the Canton of Basel-Stadt welcomes the fact that the Federal Government intends to support Swiss start-ups to help them avoid insolvency. The Federal Government has thereby also taken on and implemented a demand from the cantons. The council will therefore apply for a Framework Credit from Basel’s Parliament.

The Federal Council announced today that it will provide Swiss start-ups with additional support to protect them from bankruptcy as a result of the corona pandemic. To achieve this, it intends using the debt guarantee system already in place for SMEs. This proposed procedure will allow cantons to individually shape one third their share of the guarantee. The government council of the Canton of Basel-Stadt welcomes this approach as it takes into account the different start-up landscapes, which vary depending on the region and sector.

In today’s communiqué, the Federal Council stated that innovative start-ups play an important role in Switzerland’s economic success. Basel is home to an above-average number of successful innovative start-up companies. In the pharmaceutical sector in particular, start-ups have access to the resources, infrastructure and the human capital they need. The Canton of Basel-Stadt specifically supports new companies active in the fields of life sciences and technology.