Innovation Promotion Programmes
The central innovation fields «Innovation in Life Science», «Digital Innovation» und «Sustainable Economy» continue to be sustainably bolstered by existing and new programmes, in order to efficiently support Basel-based companies and to further push the innovation location Basel forward.
«Digital Innovation»
Digitalisation has affected all areas of the economy and our lives, and Basel-based companies are driving this development forward across all sectors. The regional ICT ecosystem gained further visibility thanks to the the BaselTech platform, an attractive showcase that displays activities and players in the digital and ICT sector.
In the year 2023 BaselTech continued on its path towards an innovative future, particularly through several pioneering pilot projects and its event series It's about Tech. Averaging around 80 participants per activity, these events promote the exchange and discussion about future opportunities, capabilities and practical application of Artificial Intelligence in the world of technology. One of the year’s many highlights was the focus on the formation of technology companies, an initiative that BaselTech intends to intensify even more in the future. With innovative formats such as the TechCircles initiative (exploring Quantum Sensing technology) and many other intriguing events, BaselTech is leading the way in showcasing new forms of exploration and participation through the application of new technologies in the real economy.
BaselTech plays a pivotal role for the development and establishment of Basel-Stadt as a prime location for innovation, research and development in the digital age; its national and international appeal continues to grow. Its enticing activities and successes in 2023 are clear evidence for the spirited engagement and the capability of BaselTech in its endeavour to inspire and connect the local tech community in lockstep with an ever-strengthening digital transformation.
«Sustainable Economy»
A thriving economy in alignment with the demands of sustainability and with the decoupling from a steadily increasing resource consumption clearly is one of the most important challenges in the coming decades. As the electorate of the Canton of Basel-Stadt has endorsed the ambitious vision of «Net Zero by 2037», it is a crucial mandate for innovation promoters to explore and utilize the potential for added value and job creation offered by an ongoing dynamic transformation of the economy. The new innovation field «Sustainable Economy» currently comprises two programmes designed to support companies embracing the transformation: The BaselCircular programme is aimed at building an innovation ecosystem in the field of circular economy and to promote innovative business ideas and enterprises committed to the circular economy. The Basel2037 programme is intended to support Basel’s economy particularly with innovative projects geared towards decarbonisation and hence achieving current and future climate targets and objectives.
«Innovation in Life Sciences»
Basel intends to continue its European leadership role in the fields of Life Sciences and Health. To this end, the location builds on the history and tradition of the life sciences industry to further its development and to lend support to the industry’s efforts of structural change. The successful implementation of the proven and tested innovation promotion programmes BaseLaunch and DayOne by Basel Area Business & Innovation agency clearly confirms these ambitions.
The objective of BaseLaunch is to help establish biotech companies specialising in innovative therapeutic approaches in the Basel region. The year 2023 witnessed the formation of three new biotech companies that had previously enjoyed the support of BaseLaunch. BaseLaunch companies have made significant inroads with funding and financing successes. Since the inception of the programme, these companies have raised more than 600 million US dollars in private venture capital. This has had the twofold effect of increasing the visibility of the biotech location Basel while also inspiring more inquiries about possible company relocation, expansion and formation.
DayOne is a programme promoting innovation and entrepreneurship in the fields of Digital Health and in the Healthcare business in general. In 2023, DayOne organised three accelerator initiatives supporting 20 projects. The «Health 4.0» start-up programme deepened the connections of emerging companies to the local pharmaceutical industry by inserting 15 international start-ups into the local pharma ecosystem during the «Health 4.0 Bootcamp».
Furthermore, in 2023, the Office of Economy and Labour put a lot of work into conceiving FoodHealth, a new programme developed in collaboration with the partnering Cantons of Aargau and Basel-Landschaft. Here the aim is the development and promotion of a regional innovation ecosystem focusing on a holistic approach to nutrition, food and health.
Rental Relief Programme and Congress Promotion
In addition to defining and recommending traditional innovation promotion programmes, the report «Strengthening Innovation Promotion 2024 to 2031» also features two service-focused programmes.
The «Rental Relief Programme for technology start-ups with specific requirements for rental spaces» («Mietzinserleichterungen» (MZE)) will be extended to the innovation fields «Digital Innovation» and «Sustainable Economy» in the future.
Technology start-ups not older than five years according to their commercial registry entry are currently entitled to apply for rental relief (MZE). By offering MZE, the Cantonal Government intends to facilitate the founding, settlement and durable establishment of innovative start-ups in the strategic focal areas of the economy in the Canton of Basel-Stadt. MZE are a considerable contribution to strengthening the regional innovation system and to spurring job creation.
One of the oldest programmes of Economic Development clearly is Congress Promotion. As early as 2014, the Canton of Basel-Stadt has encouraged and facilitated the development and realisation of congresses in Basel, if they provide benefits to the business location from an economic point of view. By deploying rather modest means, the congress location Basel has continued to gain traction and managed to create a considerably high degree of indirect and direct value added. Congress sponsorship and promotion will be continued and further attuned to the three strategic innovation fields of Economic Development. Based on its success, and well aware of the sustainability of long-term congress promotion, the Cantonal Government has approved funding for another eight years, i.e. from 2024 to 2031.
«The Office of Economy and Labour took on the central role as one of our first supporters. Not only did they provide financial assistance in the form of rent relief, but they also offered valuable network connections and in-depth expertise.»