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Spin-offs: HSG alumni win top positions in a ranking of young entrepreneurs
HSG Spin-Offs
HSG alumni win top positions in a ranking of young entrepreneurs
According to a ranking published by the business magazine Bilanz in May 2022, ten of the 61 most successful Swiss entrepreneurs under 40 are HSG graduates. Several of them were already supported in their entrepreneurial efforts by HSG start-up services during their studies.
Meat substitute from plants, sustainable fashion and an online surgery for skin problems: these are only three of the many business ideas on the basis of which HSG graduates established start-ups. HSG students regularly found successful start-ups, as the present “100 under forty” ranking published by Bilanz reveals: besides others, the business magazine lists the 61 most successful Swiss entrepreneurs under 40 years of age, among them two women and eight men who studied at the HSG.
HSG provides support from the business idea to the foundation
“The Bilanz ranking reflects the great significance which entrepreneurship enjoys at the HSG,” says Prof. Dietmar Grichnik, Director at the Center for Entrepreneurship.“Many of the ten ranked founders were supported in the context of the Startup@HSG initiative. We support students at all entrepreneurial levels – from the development of their business ideas right down to the foundation and the growth of their enterprise,” says Grichnik. This is also reflected in the fact that six of the ten companies mentioned bear the official “HSG Spin-Off” label. Since the establishment of this label in 2017, 160 companies have received the HSG Spin-Off seal of approval.
This entrepreneurial support is appreciated by the students: according to a study of student entrepreneurship in Switzerland in 2021 (GUESSS), the HSG occupies first place in the fields of “entrepreneurial climate and learning” among 56 universities and other institutes of tertiary education. The study was based on a survey of approx. 7,000 Swiss students.
HSG Spin-Off Barometer 2021
In the pandemic year, many HSG spin- offs were devoting themselves to social issues. This is revealed by the HSG Spin-Off Barometer, which is the result
Support for students from the development of their business ideas right down to the foundation and the growth of their enterprise.
of a survey conducted by the Center for Entrepreneurship for the fourth consecutive time. 23.4 per cent of the 154 companies that were interviewed are completely self-financing and have the effect of a job engine in the German- speaking area, in St.Gallen and in their business activities worldwide.
Entrepreneurial focus: sustainable development
87 per cent of the HSG spin-offs pursue business activities which concern at least one or several of the sustainability goals (UN SDGs). This high percentage is an indication of the companies’ awareness of the significance of individual contributions and immediate measures in the field of sustainability.
HSG start-ups are a strong driver for Eastern Switzerland’s economy and far beyond: 96% of the spin-offs surveyed have a larger team than at the time of their establishment. This indicates a positive effect of HSG start-ups on the local and supranational labour market. “We assume that HSG start-ups’ positive overall impact on employment is far greater than represented by data collected recently,” says Diego Probst, who
runs the survey together with Dietmar Grichnik.
HSG founder of the year 2022
During the START Summit in March 2022, Raffael Wohlgensinger has been named "HSG Founder of the Year 2022" on behalf of the company Formo. Since the cheese lover was not satisfied with previously available cheese substitutes based on soy or nuts, he began to "recreate" the product in the lab. To this end, the Berlin-based startup Formo received $50 million last year, the largest Series A financing for a foodtech in Europe to date. Raffael Wohlgensinger was co-founder and vice president of the "VeganClub@HSG" during his studies.
HSG contributes towards the establishment of a national startup fund
The HSG is also involved in important projects in the areas of innovation and entrepreneurship at a national and political level: at the behest of the State Secretariat for Economic Affairs (SECO), the Chair of Entrepreneurship assumed the responsibility for an analysis of public start-up funding programmes in twelve countries. On the strength of this survey, among other things, the Federal Council decided in late June to set up an innovation fund for start-ups with growth potential in all industries. These resources will in future be invested with a focus on digitalisation and decarbonisation.
