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With a gross value added of CHF 29.9 billion and 97,300 full-time jobs, the Zurich financial center is a major pillar of the Zurich economy and the largest financial center in Switzerland. Sustainable business practices are becoming increasingly important for companies in all sectors. Drivers for this are international sustainability goals, but also changing customer needs. Due to its importance for the Swiss financial center, the Zurich financial center has a key role to play in this development. Every second financial company also sees sustainable finance as an opportunity to strengthen its reputation and to win and retain customers. This is shown in the new study “Financial Center Zurich 2023/2024” by the Cantonal Division of Business and Economic Development and Zurich Urban Development.
The financial sector, which includes banks, insurance companies and other financial services, is one of the most important industry aggregates in the Zurich region. One in ten jobs and one in six value-added francs would be attributable to the financial sector in 2021. The real gross value added of the financial sector developed more dynamically overall than that of the economy as a whole between 2011 and 2021, especially also in the pandemic years 2020 and 2021. This is shown in the new study "Financial Center Zurich 2023/2024" by the Division of Business and Economic Development of the Canton Zurich and the Urban Development Department of the City of Zurich. Despite the currently very challenging geopolitical and economic environment, the overall growth outlook for the financial sector is positive.
Sustainable management is increasingly becoming the focus of companies. Drivers of this development include the Paris climate targets, the UN sustainability goals, legal framework conditions, but also changing customer needs. Sustainable financial products and services are increasingly in demand. The Federal Council has recognized the importance and potential of sustainable finance and in December defined several measures with the aim of further expanding the position of the Swiss financial center as one of the world's leading locations for sustainable financial services. The Zurich financial center plays a key role due to its importance for the Swiss financial center. This study examined how progressive the Zurich financial center is in terms of sustainability. The results of the survey show that numerous companies already offer products and services with innovative sustainable approaches. These include investment products with specific sustainability objectives, ESG-compliant activities, sustainable bonds or sustainable loans, insurance or services.
However, companies also face challenges, according to the survey. This includes the increasingly complex political and regulatory framework imposed by the federal government and the EU. The increasingly required transparency of climate risks and sustainability measures is also seen as challenging by 40 percent of companies. The survey participants see the greatest potential for improvement in networking with science and other companies, as well as in legal and regulatory issues.
The consistent focus on sustainability is an opportunity for the Zurich financial center and the entire Zurich business location. This is also in the interest of the companies surveyed: Every second company sees sustainable finance as an opportunity to strengthen its reputation and win and retain customers. However, the great development potential of sustainable finance must be exploited to an even greater extent. This includes, for example, the systematic disclosure of relevant and comparable climate information from companies and for investments in such companies.
The Canton and City of Zurich are committed to promoting Sustainable Finance in the Zurich financial center, anchoring it more firmly and enabling an attractive environment. The Canton of Zurich and the City of Zurich will continue to pursue this topic with the aim of deepening the dialog between the financial industry, business and academia. This is done, for example, by networking and making visible the players from the financial industry and the cleantech industry on the Innovation Zurich platform of the cantonal location promotion, but also through a regular exchange within the framework of workshops and conferences as well as further data collection.
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Zurich ranked as one of the best global hubs on the Science Clusters rank! Zurich ranks as the 9th Science Cluster globally, and 5th in Europe in Dealroom.co’s startup ecosystem benchmarking.
The coming years will be dominated by radical innovation and a need for tech ecosystems that can bring together entrepreneurship, patient capital, deep R&D, and science. A new report has uncovered the next generation of startup cities in the world, according to startup intelligence platform Dealroom.co. “The next generation of tech ecosystems” report is a data-driven analysis using novel methodology for ecosystem benchmarking. Rather than measuring a status quo, this set of actionable benchmarks is meant as a tool to help ecosystems understand and measure their maturity and preparedness for the future.
There are now 168 cities worldwide that have produced at least one unicorn - a startup valued at over $1 billion. In 2010 this number was just 12. In addition to the 168, the analysis also includes 33 cities that have had at least $100M in funding and a minimum 50 startup investment rounds since 2017, creating a full picture of both historically leading, and newly emerging tech ecosystems.
The report is the conclusion of a data-driven analysis with a one of a kind transparent framework to benchmark and measure ecosystems globally. Each of the hubs are benchmarked against three lenses: Trailblazers, Science Hubs, Rising Stars. The benchmarking of 201 global cities incorporates factors such as prior startup success rates, venture capital investment raised by a city’s startups at different stages of their growth journey, the entrepreneurial output of universities, and patent filings - the first time these datasets have been combined.
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In the current energy discussion, electric vehicles are also increasingly becoming the focus of public attention. But what about the knowledge of the Swiss people about this topic? What is clear is that the demand for plug-in vehicles continues to grow. But a study by the ZHAW School of Management and Law shows that despite this demand, there is still a great need for education on the subject of electromobility.
Electromobility is currently one of the central pacesetters in the automotive industry. All the relevant brands are working flat out to electrify their product ranges, and by the end of 2035 a large proportion of them want to dispense entirely with vehicles powered by internal combustion engines. On the customer side, electromobility is also steadily gaining momentum: At the end of October 2022, plug-in vehicles (electric vehicles and plug-in vehicles) already accounted for 24.4 percent of all new registrations.
One of the central challenges in the field of electromobility is the (still) insufficient know-how on the part of consumers. This is a challenge not only for importers and garages, but also for consumers who need to build up the necessary knowledge. In order to gain a clear picture from the consumer's perspective of their knowledge regarding electromobility and the relevant purchase decision criteria, the Institute of Information Systems at the School of Management and Law conducted a survey in Switzerland. Under the direction of Dr. Andreas Block in cooperation with AGVS, a total of 383 people were surveyed in writing in July 2022.
The respondents began by assessing their own level of knowledge of electromobility: 26.6 percent rated their knowledge as "high" or "rather high," another 39.7 percent as "average" and 33.7 percent as "rather low" or "low. It is interesting to note that men rated their knowledge significantly higher than women: 37.8 percent rate their knowledge as "high" or "rather high," while the corresponding figure for women is 16.2 percent.
The study also looks at what the decisive criteria are for buying an electric vehicle. Dr. Andreas Block says: "What is striking here is that the rational aspects tend to be weighted higher. The three most important decision criteria are the life expectancy of the battery, the service life of the vehicle and the vehicle quality. The emotional criteria such as, brand characteristics and prestige contribute far less than thought to the purchase decision of an electric vehicle.
Car manufacturers are called upon to anchor the actual price level of the vehicle range in the minds of consumers through targeted communication. In addition to the pure product information, clear example calculations on charging costs and times help. For comprehensive advice in the garage, the sales staff necessarily need the necessary knowledge themselves first. The AGVS can provide support in building up knowledge, e.g. by offering additional courses on electromobility for employees of garages or related service providers. "The state should also proactively provide more consistent information about the public charging infrastructure and its utilization rates through a wide variety of communication channels," concludes Dr. Andreas Block.
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The Covid 19 pandemic demonstrated the importance of access to and use of data to enable authorities to make informed decisions in a crisis.
This is often not the case today. Relevant data is certainly available, but it can hardly be used. Today, technical, legal and social obstacles stand in the way of meaningful and rapid use. The "Call for Action" by researchers from the Universities of Zurich and Geneva shows ways to overcome the existing obstacles and proposes new governance mechanisms that enable access to and use of data in health crises.
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Detailed rankings, causal factors, and forecasts concerning the locational quality of Switzerland’s regions and cantons.
The Locational Quality Indicator (LQI) compiled by Credit Suisse measures the attractiveness of Swiss cantons and regions to business compared to Switzerland's average. The LQI is based on the following seven quantitative sub-indicators: tax burden on private individuals and legal entities, availability of highly qualified personnel and specialist labor, population accessibility, employee accessibility, and access to airports.
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Swissparks.ch has initiated an impact analysis on the role of business and technology parks. The four participating centers Bio-Technopark Schlieren-Zurich, Business Parc Reinach, EPFL Innovation Park and Startfeld are characterized by resilient and dynamic companies.
Swissparks.ch has commissioned an impact analysis on the role of business and technology parks in Switzerland's innovation ecosystem, the association of Swiss technology parks and incubators informs in a statement. The centers Bio-Technopark Schlieren-Zurich, Business Parc Reinach, EPFL Innovation Park and Startfeld participated in the benchmarking conducted by BAK Economics and EvalueScience.
The results show that the centers are characterized by resilient and dynamic companies. Overall, only 5 percent of the companies located in the centers in 2015 were no longer active five years later. In this context, the development of the companies still located in the centers in 2020 is comparable to that of the companies that have since left, writes Swissparks.ch.
All centers show a very high percentage of private funding for operating costs, ranging from 67 to 99 percent. According to the release, this indicates "a sustainable business model for the centers and the important role of the private sector." Swisspark.ch also emphasizes the role of the centers as an interface between business and science.
"The results demonstrate the unique role that technology parks and business parks play in the innovation ecosystem," association president René Hausammann is quoted as saying in the release. "A key value is the unprecedented networking that hosted companies experience, both internally and with external sector players such as investors, business development, universities and other technology transfer partners, coaching and support organizations." hs/Cafe Europe
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The Swiss AI Report is the first to systematically analyze the use and development of artificial intelligence in Swiss companies.
The report provides an objective and differentiated insight into the practice - far away from speculations and hypes. This shows that there is a high level of strategic awareness in Swiss companies when it comes to AI. Networking between research institutions and the private sector is intensive. Companies want to use AI to optimize their core business. However, they still pay little attention to ethical issues or the growing demand for energy.
The Swiss AI Report was commissioned by the Canton of Schwyz and created by the think tank W.I.R.E and the Mindfire Foundation.
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This report by the NHS AI Lab and Health Education England explores the factors influencing healthcare workers’ confidence in AI-driven technologies.
The research follows the Topol Review (2019) recommendation to develop a healthcare workforce able and willing to use AI and robotics, and is part of Health Education England’s Digital, AI and Robotics Technologies in Education (DART-Ed) programme to understand the impact of advances of these technologies on education and training requirements. Supporting healthcare workers to feel confident in identifying when and how to use AI is a main objective of the NHS AI Lab, and a key component of its vision for the safe, effective, and ethical adoption of AI technologies across health and care.
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The role and significance of self-driving cars in Switzerland will be determined in the future by the politically set guard rails. Society and politics must define the role of the state and clarify how the public sector and private companies should share the new tasks. In addition to technological issues, numerous questions also arise regarding economics, law, politics, society and ethics.
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Zurich’s innovative power is strong, as a comparison with 249 other regions shows. Nevertheless, there is room for improvement. You can read more in the current issue of the “Zürcher Wirtschaftsmonitoring” (German only).
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SATW compiled a research overview on the topic of “Autonomous Systems” on behalf of the Division of Business and Economic Development. This impressively shows how diverse the research in the field of “autonomous systems” is in the Canton of Zurich.
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The SWISS DIGITAL HEALTH Startup Map provides a unique and comprehensive overview on digital health startups in Switzerland. Currently, Health-Trends has identified 194 Swiss-based digital health startups.
This is the second edition of the SWISS DIGITAL HEALTH STARTUP MAP status report, following the first publication in October 2021. In this report, Health Trends provides an update on the latest changes on the map. You will learn which digital health startups have been added, including detailed information about them. In addition, we inform you which digital health companies are no longer part of the map. And, you will also find a lot of background information on Health Trends in the report.
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In The Future of Digital Health, a report by BCG Digital Ventures, we delve into what industry leaders must know in order to navigate the changing means and modes of health care delivery.
The COVID-19 pandemic continues to greatly accelerate the transition to digital health year over year.
As patients, many of us are no longer sitting in a doctor’s office or waiting in line to collect prescription medications at a brick-and-mortar drugstore. It is starting to feel like the norm to find services and solutions on our own time and location - leading to a “care anywhere model”.
As providers, technology has pushed us to innovate and disrupt health care services as we learn to embrace the ‘new normal’ to better serve patients through digital companion solutions, telemedicine, or leveraging AI-solution for more informed clinical decision making.