Switzerland. The land of chocolate, cheese and mountains, but also a thriving hub of tech and innovation.
With a highly-skilled workforce, a stable political system, and both venture capital and R&D investment Switzerland is a melting point of ideas and development. But with so many opportunities there comes a risk that the talent pool won’t be able to keep up with demand.
We take a look at Switzerland’s tech industry to dig into the trends and the talent.
A world leader in innovation
For the last 12 years Switzerland has dominated the Global Innovation Index (GII), holding onto its first place ranking. The GII tracks global innovation trends and growth to identify which regions are charging ahead, and who’s left trailing behind. An impressive 12th year at the top is testament to the commitment and value placed on innovation by Switzerland.
With the government a champion of R&D, strong and stable economic climate, and a focus on technology it’s clear to see why Switzerland remains a global leader in innovation.
Hand in hand with innovation is technology. Crypto AG, Dartfish, Logitech, Scandit, Coresystems, Vidby to name a few are all based in Switzerland. It’s this thriving tech community that is pushing the boundaries and creating exciting employment opportunities for those looking for a career in tech.
Key areas of tech focus
With political stability, legal certainty and global neutrality, Switzerland is the ideal base for cybersecurity companies. Particularly, when those factors are combined with its high level of privacy protection.
For Switzerland, cybersecurity is also a tool for humanitarian good and there is a level of support and investment to work towards just that.
Blockchain and crypto
Having been involved in the development of blockchain, and with a pragmatic, business-friendly approach the emergence of blockchain and crypto tech is quickly becoming a mainstay of the tech industry within Switzerland. There are over 220 fintech companies in Switzerland, with around half of those operating in the crypto and blockchain industry and this is an area that’s bound to grow over the coming years.
With developments in AI over the last few years, it’s no surprise that Switzerland is bursting with AI-based startups and businesses. AI radio programming, boarding passes and drone technology are just some of the innovations that are being rolled out in the country, making it an exciting time for those working in the AI industry.
Digital personalised health
You can’t talk about Switzerland and technology without mentioning biotech. The most recent development coming out of biotech and life sciences is personalised health. With high levels of R&D funding, world-leading life science research and first-class technology the digital personalised health agenda will create an efficient, patient-centric healthcare system.
The foundations of its technological drive and knowledge comes from its outstanding education system. Home to some of the world’s most prestigious research universities, like the Swiss Federal Institute of Technology, The University of Basel and the Zurich University of Applied Sciences, Switzerland’s education system produces graduates that are highly specialised in their fields.
With four official languages - German, French, Italian and Romansh, Swiss workers bring more than just their tech know-how to a job. Many universities also teach English, giving graduates an international edge.
Many of those graduates are choosing to specialise in technology, with over 155,700 registered software developers in 2019. That number still isn’t enough to meet the high demand, with a report that by 2026 staff shortages in Switzerland’s tech industry will exceed 40,000. Creating opportunities for those based elsewhere to capitalise on.
Switzerland’s highly skilled international workforce has also topped the IWD World Talent Ranking for the sixth consecutive year. Demonstrating the breadth of talent in the country. But with an increase in the number of foreign workers in Switzerland of 26% during 2022, there are plenty of opportunities for those looking to move to the country.
What’s apparent is that for those in the tech industry, Switzerland can give Silicon Valley a run for its money. Not only is it bursting at the seams with innovation, start-ups and research initiatives but it’s got the talented workforce to match. The only fly in the ointment is whether there’ll be enough talent to support the growing tech industry and all the opportunities that will come out of it. But maybe that just means more opportunities for those outside of Switzerland, who are willing to make the move.
Source Technology GmbH partner with forward thinking organisations across a range of industries. Have a look at our current opportunities across Switzerland. Or contact our specialist recruitment team in Switzerland for expert advice and guidance.