New funding programme helps ETH graduates bring their start-up ideas to market faster
For the first time, the programme is specifically aimed at ETH graduates whose ideas originated independently of university research
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ETH students and recent graduates with a promising business idea and a functional prototype can now access dedicated support. The new UPortunity program helps them to launch their start-up and bring their innovations to market quickly.
Cara Ammann completed her Master’s degree in biomedical engineering at ETH Zurich with a wealth of practical knowledge about prototypes and a promising idea: with her start-up Softletics she developed a prosthesis stem that automatically adjusts to changes in body volume in order to offer those affected enhanced comfort and stability.
The stem, which connects the arm and leg stump with the prosthesis, is decisive for enabling prostheses to work. Until now, however, adjustments were cumbersome and expensive.
Ammann’s idea is convincing – but the path from a prototype to a successful business is challenging: among other things, a well-functioning team, specialist knowledge about deadlines, finance and contracts, a good marketing strategy and above all capital from investors are required.
“Engaging in dialogue with other entrepreneurs was particularly valuable”
Ammann received support from UPortunity, ETH Zurich’s new start-up accelerator. The new program supports early-stage entrepreneurs in transforming innovative ideas into viable businesses.
The teams selected for the program spend three months working full-time on their projects and receive financial support, office space, in-depth knowledge, coaching and access to a broad network of entrepreneurs and investors.
“UPortunity was really great and we learnt a lot of things that we apply on a daily basis,” says Ammann. She highlights the daily exchange with fellow entrepreneurs as one of the program’s most valuable aspects.
Entrepreneurial support beyond the research environment
With UPortunity, ETH Zurich is closing a gap in its entrepreneurship support ecosystem. While researchers can benefit from programs such as the Pioneer Fellowship incubation programme and the “ETH spin-off” label, there has so far been no comparable support for graduates whose business ideas are not based on ETH research.
“There’s an incredibly large number of talents and ideas at ETH. Through this new program, we can now support individuals who have developed a promising business idea during their studies and are looking to turn it into a successful venture after graduation,” says Cornelia Walther, UPortunity Program Director.
Numerous projects with entrepreneurial potential are launched each year particularly in the Student Project House. Many students develop initial prototypes, test ideas and gain experience there. However, the step to establishing a start-up often remains challenging.
To support entrepreneurs at this stage, ETH Zurich introduced its start-up label last year. With UPortunity, these recognised start-ups now also have access to a dedicated support programme.
“Our structured support helps to bring technologies to market more quickly,” says Walther. “Many start-ups would succeed even without support. However, with the right network, mentors and financial backing, they can progress much more quickly.” ”
Which is more important: the technology or the team?
Teams with up to five members can participate. The main applicant must either have graduated with a degree from ETH within the last two years or be in the final phase of their studies.
The prerequisite is a convincing business idea with a functional prototype. The projects must also be independent from ETH research and the university’s intellectual property. UPortunity is thus addressed specifically at start-ups and not at traditional ETH spin-offs based on research results.
However, it is not just the technology that counts for selection. “For us, the people behind the venture are at least as important as the project itself,” stresses Walther. A strong team can often be more decisive than a particularly sophisticated technical solution. “With the right people behind it, even a less groundbreaking idea can become a successful company.”
A three-month fellowship and a project budget of CHF 5,000
New cohorts are launched twice a year. Up to three members of a selected team receive financial assistance and support by way of a fellowship for three months and an additional project budget of CHF 5,000. The teams work on their project at the Westhive co-working space in Zurich West – regardless of whether they have already founded their start-up or are on their way to do so. Following the intensive three-month programme they can remain at Westhive for another nine months and continue to use the network and the space, free of charge.
The community is a core element of UPortunity. The teams behind the various start-ups not only work side by side, but also share experiences, contacts and challenges with one another. In addition, the program regularly organises joint activities. Be it the escape room, curling or Foxtrails, the teams are deliberately intermixed to enable participants to establish contacts beyond their own start-ups.
UPortunity is funded through the partnership between ETH Zurich and UBS. The bank also plays an active part with experts, workshops and advisory services. Lukas Döbelin, Head of Academic Partnerships at UBS, says: “UPortunity kicks in where many young entrepreneurs take the decisive next step – from the idea and the prototype to a commercially viable offering. Together with ETH Zurich, we create an environment that combines talent, entrepreneurial spirit and practical support.”
Showcasing their ventures to investors
The highlight of each cohort is the Demo Day event at which the young entrepreneurs present their business ideas to investors and sector representatives.
The support program thus not only covers knowledge about founding start-ups, an understanding of the market and successful networking, but also provides access to the required capital. For many teams it is the first opportunity to present their idea to a larger group of potential investors.
Further development of the programme based on participant feedback
The experience gained from the first two cohorts has already been used to develop the program further. For example, many participants expressed the desire for even more practical applications. Additional individual consultations are therefore now offered during which experts work directly with the individual start-ups on their specific challenges.
Admission to the program is also being expanded. In the future, the programme will also be open to participants who have not yet completed their studies and are in their final year of a Bachelor’s or Master’s degree.
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