Switzerland is well known for its high-quality products and beautiful countryside, attracting people from all over the world (you find Japanase, Americans and now also many Chinese in the popular tourist destinations all year around). Now Switzerland seems to have become a place for entrepreneurs, just like the US - or at least that's what a PR-savvy management consultancy and a local university say. What's happening?
Every year McKinsey and the ETH Zürich (technical university of Zurich) run a business plan contest. While it is a great PR act for McKinsey, the ETH can also profit from it since they can show that they help to create high-tech jobs. (according to their own statistics 1'700 high paying jobs have been created since the contest's inception)
Now this year they're even going one step further and starting to compare Switzerland with the US. That's at least what Thomas Knecht from McKinsey Switzerland told the local press.
Guys, I encourage you to continue this activity. But please don't try to fly without wings. Any job claims you make we really have to question. Also there is clearly no comparsion between venture funding and startup activity in Switzerland and the US. Any other claim only serves the self-interest of the sponsors and the ETH who - as one should know - get more public money for the professors if they show that they create spin-offs. Also a good idea, but the number of really viable startups that originated from this can be counted on one hand. University spin-offs rarely qualify as hugely successful startups. Lastly, how far will 135k CHF bring any serious startup company - that's the amount McKinsey and others pay to the winner. That's why we've listed this post under Sales & Marketing Strategy - because that's what it is for the sponsors.