The Market Validation Camp in India has been a great experience. The support and engagement of the Swissnex team has been very helpful in order to better shape our understanding of the Indian market. We have significantly improved our understanding of the insurance/regulatory environment in India as well as of our go-to market approach. We have established a series of leads and deal-flows in the insurance ecosystem and have become members of the Insurtech Association of India (IIA). We have also engaged with the regulatory body Insurance Regulation and Development Authority of India (IRDAI) as well as the National Insurance Association (NIA), and we plan to enter the Indian market with our parametric solution.
Thomas Krapf RiskwolfThe Plan
The programme will take place over one week on-site in Bengaluru, India between May and early June 2025. The exact dates will be announced soon. Prior to the on-site week, sessions will be conducted virtually. The overall programme includes the following components:
- Preparatory Activities: Engage in online modules and discussions with Swissnex coaches four to six weeks before the on-site visit to India to ensure that you are fully prepared for the experience upon arrival and have developed impactful milestones to focus on.
- Orientation & Sector Immersion: Gain in-depth insights into India’s digital trust landscape and market dynamics through group sessions and workshops.
- Strategic Meetings: Participate in five to six tailored bilateral meetings with relevant actors, supported by briefing and debriefing sessions with a Swissnex coach to refine your strategy.
- Visibility: Present your innovations to around 400 ecosystem players at a conference in India.
- Post-Visit Support: Receive 15 days of follow-up assistance to build on the connections and opportunities established during the programme.
Why India?
- Talent Pool: India hosts a large talent pool in software development and engineering, which can be leveraged for knowledge exchange and back-end operations.
- Government Support: The government of India has also been actively supporting the tech startup ecosystem through funding schemes and initiatives such as Digital India. It has increased the budget for cybersecurity to USD 184 million in 2024-2025 from USD 100 million in 2023-2024.
- Rising Demand for Digital Trust Solutions: India is witnessing a rise in sector-specific digital trust solutions, such as in healthcare, finance and manufacturing. Swiss startups can align their offerings within these sectors.
- Global Recognition: Indian companies are gaining global recognition for their high-quality SaaS products. The country holds around 5% of the global SaaS market, which is projected to grow to 8% in five years, enhancing the potential for collaboration.
- Compliance and Privacy: Large IT firms in India such as Infosys and Wipro have established partnerships with European companies for various services. As a result, they adhere to European compliance and privacy measures, creating valuable opportunities for Swiss startups to offer their solutions.
The thriving digital trust market in India offers Swiss startups an ideal environment to test their products and business models, and to build strategic partnerships with key industry players. By taking part in this programme, Swiss startups can unlock new opportunities and accelerate their growth into the Indian market.
Who Can Apply
- Startups that are headquartered in Switzerland and incorporated within the last five years are eligible to apply.
- We prefer applications from early-stage to growth-stage startups, provided they have developed a late-stage prototype, showcasing readiness for market validation.
- We encourage participation from startups active in:
- Cybersecurity GenAI, Privacy and Data Ownership, Data Management and Security, Quantum Security, Cloud, Encryption, IoT Security, Zero Trust Security, Blockchain, Trust and Cybersecurity in Autonomous Systems, SaaS, Trust Management & Cybersecurity in specific verticals (healthcare, manufacturing, agriculture, BFSI), Threat & Cyber Risk Management, Fintech
- We encourage startups currently in the Innosuisse Coaching Program to apply.
To register your interest, fill out this form. The deadline is 15 December. For any questions and clarifications, please contact the Innovation team. Their details can be found below.
Testimonials
As always, the Swissnex team is excellent at picking out the pain points for their startups and at helping address them. It is tremendously helpful that the team is ‘on-the-ground’ in the target markets and that their knowledge and networks are so extensive. India is a key spot in the world to improve preterm health, therefore the Market Validation Camp was very helpful to us as we got good leads from some investors and gained insights about the Indian healthcare system.
Alex Nitsch OxyPremThe Market Validation Camp was a founding part of our plans in India. We extensively scouted and eventually connected with key industrial players including leading energy think tanks and policy influencers, getting their valuable feedback about validation of solutions deployment, which is now serving as the key factor for our market entry plans.
Dr. Saurabh Tembhurne SoHHytech SAWe were able to position Riskwolf in the Indian market with a series of deal flows and MoUs executed. The Market Entry Camp has been instrumental to move ahead with our Indian market strategy. The programme supported us to gain more business traction, improved our understanding of the Indian insurance market and provided helpful insights into the local market environment. Participation in conferences in Bengaluru helped us position Riskwolf in the insurance market in India, it also introduced us to Indian players and helped us get coverage in local business-news portals.
Thomas Krapf RiskwolfIndia is one of our major target markets. The aim of the Market Entry Camp was to move towards industrialisation (including local manufacturing plan), product deployment (working with relevant local players), and legal entry plan (understanding bits and pieces of setting up operations in India), which were all successfully achieved. The camp helped in securing a development partner (which had been a bottleneck before), establishing leads with key corporate customers, and major media coverage of SoHHytec was offered thanks to physical participation at innovation events in Bengaluru. The Swissnex team went above and beyond to connect us with the right group of people and made our camp visit hassle free. We highly recommend the camp and would love to work with Swissnex in the future.
Dr. Saurabh Tembhurne SoHHytech SAIndia is a challenging market in which you tend to take two steps forward and one step back. It’s a market that requires patience and continuous engagement. Media coverage and participation at networking events is key to gaining ground and the Market Entry Camp also helped us in being part of the insurance landscape in India to enable our growth in this segment. The Swissnex team was always with us helping us push through the difficult nuances. They have been very professional yet friendly and have listened to our needs and focus points. We have made good inroads in the market due to their coaching and advice.
Ashish Trivedi RiskwolfContact
Juan Piffaretti
Deepika Prithviraj