MARKET INSIGHT
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In the era of rapid technological advancements, digitalization has emerged as a transformative force across industries worldwide. Switzerland finds itself navigating the opportunities and challenges brought forth by the digital age. Within this context, Swiss foundations are increasingly recognizing the need to embark on a journey of digital transformation. Going Digital: not a Luxury, but a Necessity
Inside the Realm of Swiss Foundations
Switzerland, often referred to as the “Land of Precision”, has long been recognized for its remarkable achievements in various fields. However, like many countries, Switzerland faces its own set of challenges, particularly in the realm of digitalization, and now, Switzerland finds itself at a crossroads, where staying ahead of the game means embracing lightning-fast technological advancements. Estimates suggest that embracing digital transformation can bring about a much-needed productivity boost of around one percentage point annually until 2030 (McKinsey&Company, 2018) across advanced economies, including Switzerland. This transformative potential cannot be underestimated. Switzerland requires proactive measures to address challenges and seize opportunities, successfully navigating this changing landscape. Two conditions are key for the country: accelerating digital transformation and investing in reskilling initiatives. So, what’s the game plan? Swiss companies need to go beyond merely implementing new technologies. They require a fundamental redesign of business models, customer journeys, and operational processes to embed a “digital first” strategy. At the same time, reskilling the workforce is crucial to ensure that individuals possess the skills and knowledge necessary to thrive in the digital age. It involves investing in continuous learning programs, upskilling initiatives, and fostering a culture of innovation and adaptability.
Switzerland’s vibrant foundation ecosystem is making waves with over 13,000 active foundations, playing a pivotal role in education, research, culture, and social welfare sectors - as outlined in the Swiss Foundation Report 2021. Significantly, the aforementioned Report recognizes foundations as substantial catalysts for innovation in Switzerland. Therefore, it comes as no surprise that there has been a mounting focus on digitalization within Swiss foundations in recent years. While only a few have fully embraced digital transformation, many have acknowledged the paramount significance of incorporating new technologies into their operations and strategies. This observation is echoed on a global scale, as evidenced by a survey conducted by the Stanford Social Innovation Review, which found that 92% of Non-Profits worldwide believe that technology can significantly enhance their effectiveness in fulfilling their mission (Stanford Social Innovation Review, 2020).
active foundations in Switzerland