Fongit Innovation Fund (FIF): a new financial tool for sustainable development

FONGIT, the foundation supporting technological entrepreneurship in the canton of Geneva, has announced the creation of Fonds d'innovation Fongit (FIF), in collaboration with the State of Geneva. 

This new financing tool is designed to support technological innovation projects at the service of sustainable development (SDGs) in the initial innovation phase, in particular those originating from Geneva's universities and research centers such as CERN, as well as innovative start-ups and small and medium-sized enterprises (scale-ups and SMEs) registered in Geneva's commercial register.

With an initial budget of around five million Swiss francs for the period 2021 to 2023, it aims to accelerate the economy's innovation processes and contribute to economic recovery in this period of recession.

A similar model, the Fondation pour l'Innovation (FIT), was implemented by the canton of Vaud and has delivered excellent results since its inception.