Switzerland’s startup competition >>venture>> is inviting early-stage fintech and insurtech startups to apply for its 2024 edition which is now open for submissions until 28 February 2024.

Co-organised by ETH, McKinsey & Company, Knecht Holding, Innosuisse and EPFL, >>venture>> has grown to become a cornerstone of the Swiss startup landscape since it was founded over 25 years ago in 1997.

It is worth noting that >>venture>> takes no equity, interest or fees from those participating and/or winning the competition.

Participants will receive significant financial incentives, including non-dilutive cash prizes totaling nearly CHF 600,000, with a Grand Prize of CHF 150,000.

The competition provides networking opportunities by opening doors to a rich network of industry contacts. Winners of the competition gain significant exposure in the ecosystem and media, enhancing their visibility.

Additionally, finalists benefit from mentorship and training, including pitch training workshops and individualised feedback from mentors. They will also have access to a wealth of expertise through invaluable insights from the advisory board.

Who Can Participate in the 2024 Edition?

The >>venture>> competition welcomes a wide array of participants, especially those at the early stages of their startup journey. Whether you’re still fine-tuning your business idea or have already made strides with customers and funding, >>venture>> is an opportunity to take your startup to the next level, provided you’re based in Switzerland or plan to establish your business there.

Here is a 5-step guide on how to apply for the >>venture>> competition according to its playbook:

Submit Your Startup Plan: A detailed 10-20 page PDF document outlining your business on the >>venture>> website as a pitch deck which will be reviewed by the jury. According to >>venture>>, every single participant will receive highly valuable written feedback from 3 different jurors. Upon request, every applicant also receives a CHF 300 voucher valid for IP research at the Swiss Federal Institute of Intellectual Property.

Jury Round 1: The top 10 finalists will be chosen for the “Finance and Insurance” vertical based on the submitted plans. As a finalist, these startups will get access to the >>venture>> mentors. They will also be able to refine their pitching skills by participating in a pitch training session held by McKinsey & Company communications experts and investors.

Jury Round 2: Following a pitch to the jury during round two, only 3 startups will be selected from the 10 finalists to move on. At this stage, each startup has already bagged the non-dilutive prize money of at least CHF 10,000.

Winner Ranking: The competition will culminate in a pitching session in front of top-level leaders of established not-for-profit organisations from >>venture>>’s advisory board. >>venture>> advises startups to share their long-term vision alongside practical short-term next steps as well as providing key figures during the pitch. The winning startup receives CHF 50,000 and a McKinsey consulting package, while the second-place finisher is awarded CHF 20,000, and the third-place receives CHF 10,000.

Grand Prize Awarded: The top winners from each of the five verticals pitch again to the entire advisory board for a chance to win an additional CHF 100,000 and the coveted Grand Prize. The ultimate Grand Prize winner will receive a total of CHF 150,000 along with a comprehensive business consulting package from McKinsey & Company.

2023 Winners from the Finance & Insurance Vertical

1st place: Frigg (Zug)

Streamlining sustainable finance processes for small to mid-sized renewable energy developers, reducing manual efforts and costs.

2nd place: Grape Health (Zurich)

Providing fully digital employee insurance that prioritizes physical and mental well-being, investing in preventive services for healthier teams.

3rd place: Ascentys (Courroux)

Automation of ESG assessment and reporting for companies, simplifying the process and enabling actionable reports.

Fintech News Switzerland got the opportunity to speak with these three top winners at the >>venture>> startup competition to understand their journey and their role in shaping the future of fintech and insurtech in the country.

Submit Your Idea Today for the 2024 >>venture>> Edition

The >>venture>>competition is chance for to refine your business concept through access to an extensive mentor network where you will receive expert feedback, and stand the chance to secure funding to kickstart your startup.

Moreover, the >>venture>> competition aims to support your startup journey by helping you rigorously evaluate your business plan to identify and address any weaknesses promptly, develop a practical implementation strategy, and create a comprehensive document that will be pivotal in your communications with investors and strategic partners.

Apply here for the >>venture>> 2024 edition which will be open for submissions until 28 February 2024.