Echo CCIF · March 2024

Fri Up and Seed Capital Fribourg Foundation: a collaboration opening new perspectives

Founded in 2010, the Seed Capital Fribourg Foundation's mission is to offer loans to start-ups in the early stages. A public foundation funded by the State of Fribourg, it reflects the canton's commitment to supporting start-up innovation. Since its creation, 34 projects have received funding, 25 of them in the last five years. Interview with Yann Steulet, director of Fri Up and executive secretary of the Seed Capital Fribourg Foundation, to better understand what lies behind the Foundation.

Financing innovative early-stage projects

Yann, who is Seed Capital Fribourg for?

Seed Capital Fribourg is aimed at early-stage start-ups that have not yet fully finalised their product and still need to validate their market. Despite their embryonic nature, it is very important that these projects can see the light of day and feed innovation and economic momentum in the canton. At this stage, banks won't get involved and venture capitalists wait to see a positive market response. It is therefore essential to fill this gap and offer financing so that these start-up projects can be developed. Financing takes the form of a loan of up to CHF 100,000. We are looking for projects with an innovative technology, process or business model and strong growth potential.

What does a typical project submitted to the Foundation look like?

These projects are still developing and validating their business plan, which includes building prototypes and carrying out market studies. Our support aims to finance the finalisation of their technical and commercial aspects. Recent projects we have supported include innovative digital platforms, such as a collaborative project management platform for civil engineering, and novel industrial processes, such as seed treatment using green technology.

What would you recommend to a project that wants to apply for a loan?

It is vital to clearly define the innovation on offer, assess its relevance to the market and know the target customers. The team's skills and profiles are also essential in project selection. But even if not everything is perfect, it is always better to submit the project to us for assessment. We are here to support, help finalise applications and guide project holders.

Yann Steulet, Director of Fri Up