Swiss Bankers Association supports Federal Study on “New Innovation Models”
Innovation is the backbone of Switzerland's global competitiveness. However, with some innovation statistics indicating a significant decline in the proportion of companies in Switzerland involved in research and development, a new study by the State Secretariat for Education, Research and Innovation has been initiated. The study aims to identify sectoral innovation models and their implications for Swiss innovation policy. The SBA supports the study for the financial services industry, together with partner associations SFTI and SVV.
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Switzerland is one of the most competitive countries in the world. Commercially successful innovation activities are an essential part of this achievement. However, innovation statistics have shown a significant decline in the proportion of companies in Switzerland involved in research and development (R&D) for several years.
To analyse the reasons for the decline in R&D-performing companies and identify trends in the innovation activity of Swiss companies, the State Secretariat for Education, Research and Innovation (SERI) commissioned a first short study which was published in early 2023. Through six hearings with representatives from different industry sectors, the study revealed several unique challenges to companies’ innovation activities. These include the growing centricity of consumers and generally clients in innovation processes, the widespread digitalisation of innovative products and services, the increasing emphasis on sustainability in innovation projects, the increasing influence of regulations, and the transformation of the competitive environment, driven by factors such as geographic shifts, new entrants from the technology sector, and disruptive start-ups.
The first SERI study made clear that the conditions for innovation to thrive are sector-specific to a certain extent. As such, a one-size-fits-all policy approach to aid further innovation is not suitable. For this reason, a second project has been set up, dedicated to identifying new sectoral innovation models and their consequences for innovation policy. The study focuses on the following key areas:
- Data-related practices and needs in corporate innovation activities: Exploring how companies harness data to drive innovation, the barriers they face, and the role of advanced technologies like Artificial Intelligence (AI) and big data analytics.
- Sustainability-related innovation activities and drivers and bottlenecks of such innovations: Examining sustainability-driven innovation practices, from the triggers and bottlenecks to the evolution of sustainable business models in the financial sector.
- Collaboration practices and needs: Identifying how partnerships within ecosystems – spanning academia, industry, and government – enable transformative breakthroughs.
- Regulation: Evaluating how regulatory environments shape innovation efforts and proposing improvements to foster agility and adaptability.
The study will be conducted by three Swiss organisations with extensive experience in economic policy analysis and excellent knowledge of the Swiss research and innovation system: FHNW School of Business (coordination, [email protected]), ETH Zürich, KOF Swiss Economic Institute, and University of St. Gallen, Center for Aviation & Space Competence (with Prof. em. EPFL Dominique Foray). A steering board made up of representatives of the institutions funding the study will accompany the project and ensure close linkages to both industry and public innovation policy in Switzerland.
The SBA supports the finance stream with partner associations SFTI and SVV.
"Switzerland’s success as a global leader in innovation depends on our ability to adapt and evolve. By supporting the Federal Study on ‘New Innovation Models,’ the Swiss Bankers Association aims to uncover actionable insights that address sector-specific challenges and foster meaningful dialogue.”