Stable economic development in Vaud
Despite a complex geopolitical environment, Vaud's economic development programme achieved strong results in 2023. By promoting 733 business projects and providing targeted support for innovation and sustainability, the canton has shown itself to be resilient and future-orientated.
In 2023, the Vaud Economic Development Agency provided financial support for 733 business projects. Support for internationalisation increased by almost 20%, while support for the cleantech sector rose by 23.7%, reflecting the growing importance of innovation in the energy and climate sector. The number of branches of foreign companies remained stable at 28 new branches.
Network and partnerships
Isabelle Moret, Head of the Department of Economy, Innovation, Employment and Heritage (DEIEP), emphasises the importance of a strong network: “In 2023, more than a thousand companies and project promoters benefited from the Vaud government’s support measures, particularly in the areas of innovation and sustainability.” These measures supported 3722 jobs.
Strong growth in the medtech sector
Vaud start-ups raised CHF 444 million, with 29 of them among the top 100 best start-ups in Switzerland. The medtech sector is particularly noteworthy: 52% of investments in medical technology across Switzerland were channelled into Vaud start-ups.
Attracting foreign companies
Innovaud, the agency for the promotion of innovation and foreign investment, supported the establishment of 28 new companies in the canton of Vaud. The life sciences sector had a particularly strong presence, accounting for more than a third of the new companies.
Promotion of research and development
The innovation parks in the canton of Vaud were home to a total of 661 companies and 8326 jobs at the end of 2023. The new unlimitrust campus and the expansion of the EPFL Innovation Park with the Ecotope project are examples of growth and support for research and development.
Support from the Innovation Promotion Fund
The Innovation Promotion Fund was endowed with an additional CHF 50 million in 2023. This fund supports the Foundation for Technological Innovation (FIT) and various programmes such as Tech4Trust, Trust Valley’s leading acceleration programme for start-ups, and FIT Impact for young projects in the field of impact entrepreneurship.
Sustainability as a central task
Sustainability plays a central role in the 2022-2027 legislative planning. The “4-season tourism” framework credit of CHF 50 million aims to improve the quality and sustainability of tourism infrastructure. in 2023, 84 projects totalling almost CHF 4 million were supported to help companies make the transition to sustainability.
A strong economic ecosystem
The PESI also supported organisations such as Innovaud, which accompanied 328 companies and contributed to the creation of 31 new companies. Genilem, specialised in project diagnostics and entrepreneurship consulting, supported 24 companies. The Foundation for Technological Innovation (FIT) awarded over CHF 4 million in grants and loans to start-ups.
Regional economic promotion and territorial advertising
The regional economic promotion offices supported 712 companies and provided over 1,000 services. Vaud Promotion encouraged 165 local producers to label their products with the VAUD CERTIFIES D’ICI label. The attractiveness for tourists increased by 8.6%, with most visitors coming from Switzerland, France and the USA.
These comprehensive measures and partnerships emphasise the successful strategy of the Vaud Economic Development Agency, which focuses on sustainability, innovation and strong networks.