EXCEPTIONAL SUPPORT FOR GENEVA STARTUPS – COVID-19

Emergency Funding for Geneva Tech Startups

The State of Geneva has provided a credit line to meet the cash flow needs of young companies developing technological innovations and that are experiencing temporary cash shortages due to the ongoing crisis. Geneva Tech Startups can apply for exceptional financial support in the form of an interest-free loan.

 

This measure can be complemented with the new guaranteed loans program of the Swiss Confederation (see the eligibility criteria here).

 

Application criteria for the cantonal measure (in addition to those of the federal measure)

The company must be:

  • Based in Geneva and created between January 1st 2015 and March 1st 2020
  • Offering a technological innovation that works towards at least one of the UN Sustainable Development Goals, in particular environmental or medical
  • The funds allocated will be proportional to the difficulties faced and represent a maximum of 20% of the total external funds raised over the last 3 years

For more detailed information you can check the official rules of this measure here (French only).

The interest-free cantonal loan is for a maximum amount of CHF 200k (combined with the federal measure, it can provide up to CHF 570k) and must be reimbursed immediately should the company no longer be facing financial difficulties; otherwise the loan is repayable over a maximum period of 7 years.

 

Applications are initiated via the Swiss Confederation’s dedicated application portal Easygov and will be managed by Fongit.

 

Depending on the volume of requests, you will be recontacted by Fongit within 5 working days from application. Funds can be released immediately after the evaluation process in case of a positive decision.

Read also our latest recommendations in the regularly updated Geneva Tech Startup Financial Survival Kit and choose the right measures for your startup.