The "Spin-Off Universität St. Gallen" label has been granted to 122 spinouts over the past two years, with 22 of those remaining based in the city.
A total of 122 spinouts from University of St Gallen have been awarded the institution’s seal of approval, the “Spin-Off Universität St. Gallen”, since the scheme launched two years ago.
University of St Gallen’s spinout label was introduced in 2017 and grants recipients access to resources from its Centre for Entrepreneurship, including office space, networking events and mentoring.
The scheme is open to spinouts that have been active for a minimum of 12 months, with at least one founder who still researches or teaches at St Gallen.
St Gallen surveyed 76 of the spinouts on their performance during 2018, with respondents reporting combined revenues of more than CHF150m and the creation of some 1,500 jobs.
Of the 122 businesses to have secured the award, 22 are headquartered in the city of St Gallen, while another four have set up roots in the local cantons of St Gallen, Thurgau, Schaffhausen and Graubünden.
The university said 67 of the spinouts were located in the rest of Switzerland, while 29 are based in foreign countries.
From the 2018 survey, St Gallen found 81% of participating spinouts remained active, while almost half possess serial entrepreneurs within their management teams.
More than a third of the 76 respondents had touched base with the Centre for Entrepreneurship, on average giving the facility eight-out-of-ten on the user satisfaction scale.
St Gallen publishes the full list of Spin-Off Universität St. Gallen-recognised businesses on its website.
Recent spinouts to have been accredited include bike security technology developer Urban Connect and blockchain inheritance management tool PassOn, however older companies such as 1985-founded IT consultancy Abacus have also accessed the scheme.
