UZH Foundation - Fuel for new ideas

"It was pure coincidence that an email from the university alerted me to the Digital Entrepreneur Fellowship call," recalls Merens Derungs, who was the first Fellowship grantee in 2021. At the time, he was writing his dissertation on digital equities and thought his project could fit well into the program. "With a digital share, a digital token is issued rather than a physical security. Switzerland is one of the first countries to allow this," he explains.Derungs had acquired the detailed knowledge of capital markets and their legislation, among other things, during the internship year for his bar exam in Zurich. At the time, however, he said he was not yet a fan of the crypto world and digital assets. That changed when Professor Caspar von der Crone, with whom he planned to write his dissertation, asked him to write an article on digital assets. Derungs then decided to found a startup based on the digitization of shares. With this idea, he won the first Digital Entrepreneur Fellowship 2021.

From the idea to the business concept

Derungs was able to profit above all from coaching. "The fellowship program provided me with a coach. He guided me through the various steps of building a startup," Derungs recounts in retrospect. He had helped him to develop the idea into a solid business concept. Based on this, Derungs founded the company Arcton a few months ago. The startup aims to build a marketplace for funding startups based on the blockchain. Through this platform, start-up companies could find investors from around the world faster and cheaper by offering digitized shares of their company. In return, investors could invest very diversified and already with small amounts in interesting startups and would also not have to wait ten years until they can sell their shares again.

In addition to coaching, Derungs was able to benefit from the Fellowship's reputation. It gave his crypto project the credibility it needed, which opened numerous doors for him, he said. The young lawyer used the start-up funding of 100,000 francs to buy licenses and software and to pay himself and his team a small salary. In addition to his co-founder Thomas Charrière, three developers in Georgia are currently working on the Arcton platform, which is scheduled to go live at the end of this year.

Mental Well-Being App for Women

In December 2022, Marta Marciniak, one of this year's two Fellows, will start her program. A native of Poland, she studied psychology and is developing a mental wellness app for women. As a postdoc, she wanted to apply her psychological research in a practical way to help people. In Zurich, she worked for the research project DynaMORE - Dynamic Modeling of Resilience. There, she developed app-based interventions that improve mental health. She now plans to use the fellowship to further develop an app intervention to market readiness.

Most of the apps that already exist are not based on scientifically tested interventions and do not specifically address the needs of women. This is despite the fact that women suffer from stress-related psychological disorders twice as often as men and are additionally burdened by the hormonal fluctuations of the monthly cycle. "Thanks to the fellowship, I can fully focus on developing a mental wellness app for the market after finishing my dissertation. I will use the funds mainly to finance a team," says Marciniak. A portion would also be used for focus groups. The app is developed in close cooperation with the end users.

Marciniak and Derungs are among the winners of the fellowships and thus benefit from the financial grant and coaching. But Merens Derungs thinks applying for a fellowship is worth it even if you don't win in the end. "It helped me conceptualize my own application idea. Also, it's good practice for pitching and you get valuable feedback on the business concept."

Markus Hagmann, President of the Board of Trustees of the Hans Eggenberger Foundation, which makes the program financially possible, is also enthusiastic about the Digital Entrepreneur Fellowships. "Hans Eggenberger was a pioneer who brought radio to Switzerland. When he first demonstrated this new type of device in Zurich in 1922, which could receive music from the air, people were amazed," says Hagmann with a smile. Hans Eggenberger founded a successful company that imported electronic equipment such as radios and televisions into Switzerland, and made plenty of money from it. Since he had no children, the assets were transferred to a foundation with his name.

Back then, technology brought about major social upheavals, just as it is doing today with digitization. Especially the foundation of a startup in the field of blockchain like Merens Derungs' is highly interesting, says Hagmann. In addition, Hans Eggenberger has always been keen to support young entrepreneurs. The original mission of the foundation to promote electronics and electrical engineering has now been extended to include IT. That's why the Digital Entrepreneur Fellowship is an exciting project that fits the foundation's purpose, Hagmann said.

UZH Foundation enables Fellowships

The Digital Entrepreneur Fellowship is an example of the new programs at UZH that specifically support innovative research. Already in 2017, the UZH Innovation Hub created a UZH Entrepreneur Fellowship in the field of biotech. The fellowship was so successful that a MedTech track was also introduced just one year later. Now this promising funding instrument has been extended to digital innovation, says Maria Olivares, head of the Innovation Hub at UZH.

However: The UZH Innovation Hub does not have its own funds for the implementation of such a project. "For funding instruments like the fellowship, we therefore rely heavily on third-party funding, i.e., donations and foundation money," Olivares says. "The UZH Foundation can provide us with professional support here. It knows the market and has a good overview of which topics can be used to approach potential target groups. With the Hans Eggenberger Foundation, it has found the perfect partner for funding the fellowship."

Bullinger and Corona

The UZH Foundation builds bridges between foundations, companies, private donors and patrons and university research projects that enable groundbreaking developments for society and advance the careers of young talents. "Such projects often cannot be funded with public money," says Annelise Alig Anderhalden, CEO of the UZH Foundation. The private funds raised by the Foundation enable or accelerate additional innovative research at UZH.

Numerous examples, such as research into sickle cell anemia, show that the projects supported ultimately benefit society. Until now, the severe genetic disease could only be treated with expensive gene therapy, until a team from the University of Zurich was able to prove that an already known Alzheimer's drug protects against the deadly sickling of blood cells.

The research studies on the coronavirus made possible by the UZH Foundation are a current example that clearly shows the relevance of the funded projects for our society. During the 2020 lockdown, the UZH Foundation, together with UZH, launched its first crowdfunding for a pandemic fund to finance research on the coronavirus. "Thanks to the results of these studies, schools have been able to reopen earlier," Alig says. Funds from the UZH Foundation also made possible the digitization of the letters of the Zurich reformer Heinrich Bullinger, which were thus made accessible to the public.

The launch of new funding instruments such as the Digital Entrepreneur Fellowship is intended to drive forward further innovative research projects in the digital field and encourage young researchers to develop their projects into market-ready products and applications.

Author: Jeannine Hegelbach,
UZH News

Image source:
Stefan Walter