FIT Digital

The FIT Digital programme aims to support entrepreneurs established in the Canton of Vaud who develop projects with an innovative business model, based on digital technology, which are difficult to imitate and have strong growth potential.

This tool has been designed to identify not only promising digital startups, but also the talented entrepreneurs who will be in charge of creating the jobs of tomorrow.

We want to give you the chance as an entrepreneur to test new innovative business models, to quickly gather evidence of success and to support you financially in the early stages of your development.

Are you eligible for any of the FIT Digital supports?

Digital Grant

Grant of CHF 20’000 
Test the hypothesis of the business model and validate the client's problem

 

Objectives : 
- Validate the assumptions of the business model and the client's problem 
- Validate the entrepreneur's ability to create a team 
- Validate the execution of the product by moving from a prototype to an MVP

 

Prerequisites : 
- Innovation:
ability to demonstrate that the business model is innovative, difficult to imitate and with strong growth potential

- Team: 2 to 5 people (no full-time obligation), including at least one person domiciled in the Canton of Vaud 

- Product: mockup or functional prototype 

- Funds available: the startup must have at least CHF 20,000 - max CHF 50,000 

- Location: job creation in the Canton of Vaud 

- Company status: before creation or 6 months after (RC)

 

No financing terms

 

Digital Seed

Loan of CHF 50'000 
Validate the value proposition and acquire the first customers

 

Objectives : 
- Validate the value proposition and acquire the first clients 
- Validate the entrepreneur's ability to build a team 
- Validate the execution of the product from an MVP to a scalable version

 

 

Prerequisites : 
- Innovation: ability to demonstrate that the business model is innovative, difficult to imitate and with strong growth potential

- Team: 2-5 people (FTE 2) with in-house technology expertise 

- Product: MVP 

- Funds available: the startup must have a minimum of CHF 50'000 - max. CHF 200'000 

- Location: potential of 10 jobs created in the Canton of Vaud 

- Company status: max 12 months after creation (RC)

 


 


Financing terms: 
- 0% interest 
- Repayable over 5 years
- Conversion option on 25% of the loan at the next round price. Exercise of option within 10 years in the event of a liquidity event
- On maturity of the option, without prior exercise of the option, repayment of the 25% nominal amount + a bonus of CHF 12,500

Digita​l Growth

Loan of CHF 200’000 
Set up and execute the first growth strategies

 

Objectives : 
- Implement and execute initial growth strategies 
- Validate the entrepreneur's ability to complete the team 
- Validate the entrepreneur's ability to raise funds and generate a turnover of around 30'000 per month

 

Prerequisite : 
- Innovation: ability to demonstrate that the business model is innovative, difficult to imitate and with strong growth potential

- Team: 5+ people (FTE 3) with in-house technology expertise 

- Product: functional, scalable and replicable version 

- Funds available: fundraising of min. CHF 200'000 - max. CHF 2 million by the startup 

- Location: potential of 10+ jobs created in the Canton of Vaud 

- Company status: max 36 months after creation (RC).

 


 

Financing terms: 
- 2% interest
- Repayable over 5 years
- 10-year conversion option on 25% of the loan, at the share price of the round that the FIT matches 
- Minimum payback of 25% nominal + CHF 30K

 

What is the process?

1. Application via the online form 

2. Pre-evaluation of the project by Innovaud 

Innovaud is the innovation and investment promotion agency of the canton of Vaud in Switzerland. During an interview of about 1 hour, the start-up and Innovaud review the project. 

3. Validation of the application by FIT

During an interview lasting approximately one hour, FIT examines the project with the start-up. 

4. Pitch to the Selection Committee

The session starts with a 10-minute pitch for the startup, followed by a 10-minute Q&A by the FIT Digital Committee. 

5. Definition of milestones and validation of the use of funds with FIT

6. Signature of contracts

7. Release of funds

8. Monitoring of KPIs (+3 months) 

Calendrier Digital

Important: in order for your application to be presented to the Selection Committee, you must have submitted your complete application before the application deadline. This includes a meeting with a coach to check the application.

Deadline for applications:

26 February 2024 

03 May 2024

02 August 2024

05 November 2024

Selection Committee:

26 March 2024

03 June 2024

02 September 2024

05 December 2024

To apply for FIT support, register via Innovaud (the innovation and investment promotion agency for the canton of Vaud), which is responsible for the pre-selection of candidates:

Active in Food & Hospitality?

The Food & Hospitality programme, launched by the Foundation for Technological Innovation (FIT) in association with EHL, targets digital start-ups active in the hospitality industry which includes travel, tourism and entertainment. Start-ups participating in this programme will benefit from the infrastructure and network of the EHL Innovation Village.