Switzerland and the Republic of Korea are both champions of innovation. This is why the 60 anniversary will be celebrated under the slogan “where innovation blooms”. Switzerland ranked No. 1 in the Global Innovation Index in 2022 for the 12th year in a row since 2011.

What is it that makes Switzerland so innovative?

Switzerland’s strength and success are often attributed to the quality of its education system, heavy investment in research and development, and the diversity within the society – which created a fruitful breeding ground for new ideas and a thriving innovation ecosystem.

Switzerland has some of the top educational institutions such as the Swiss Federal Institute of Technology (ETH) and the École Polytechnique Fédérale de Lausanne (EPFL) – two federal institutes of technology that hold strong positions in international rankings.

Switzerland’s – like South Korea’s - investment in education and research is evident in numbers. Its education expenditure accounts for about 5% of Swiss GDP and research and development activities account for a further 3.4% of Swiss GDP. Switzerland has 27 Nobel Prize laureates – among the highest in ranking of Nobel Prize laureates per capita globally.

A key feature is the frequent exchanges between research and the private sector, thereby allowing ideas to be developed further. Domestic and international companies partner with universities and higher-education institutions to further their research activities. The Swiss research community also actively participates in international exchange of knowledge. Swiss multinational corporations such as Roche Holding, Novartis, Nestle, and ABB are global giants in research and development while foreign multinationals such as Google, IBM, Siemens, and Disney have R&D centers in Switzerland.

Switzerland Innovation is a platform to promote and encourage collaboration between academia, government, and private sectors in research and development and to create an ecosystem for the newest developments to turn into viable commercial products and services. They have sites nationwide called “Innovation Parks” in cities such as Basel, Lausanne, Zurich, Biel/Bienne, Villigen. St. Gallen and Ticino.

Switzerland’s openness and diversity are also key factors fostering innovation. The country’s internationalization, diverse cultural background and welcoming to global talents are the drivers of innovation and creativity. With 4 national languages, Switzerland also hosts a population of 25% foreign born inhabitants including many researchers. In fact, half of the professors at ETH Zurich are non-Swiss.

Switzerland also has a vibrant start-up scene especially in the biotech, health & medical tech and ICT sectors. Most Swiss start-ups are spin-offs from ETH Zurich, EPFL, and University of Basel. Seoul and Basel recently signed a partnership agreement with a focus on strengthening exchanges between start-ups in the life-science field.

Small and medium-sized enterprises account for 99% of all Swiss companies and provide two-thirds of the country’s jobs. Switzerland has one of the world’s lowest unemployment rate.
Education, research, and diversity, along with a strong business ecosystem are the bedrock of Switzerland’s economic success.

Switzerland and the Republic of Korea are where innovation blooms.