Accompanying Measures

The Pro Zukunftsfonds Schweiz foundation is championing the Swiss future fund, whereby less than one percent of savings will be fed back into investments for the jobs of the future. The foundation is also advocating optimum framework conditions for Swiss start-ups. This includes removing fiscal obstacles for start-ups and also accounting rules which complicate venture capital investments for pension funds. It also supports efforts to promote entrepreneurial spirit as well as entrepreneurial expertise among young people. We need politicians to do the following:

1. Eliminate fiscal discrimination for promising, capital-intensive start-ups with long-term investments periods. Specifically:

a) Eliminate stamp duty, which hits capital-intensive start-ups particularly hard

b) Eliminate disadvantages resulting from extreme progression, as profit often arises in a concentrated manner in the 10th/12th/14th year

1) For venture capital companies

2) For experts within venture capital companies (performance-based pay)

3) For the Swiss future fund

2.  Eliminate unrealistic accounting rules for venture capital investments from pension funds, which prevent those in charge of pension funds from making long-term investments. Options include:

a) Posting items as a venture capital investment in a format (J curve) from which everyone can identify immediately that they refer to investments that have been posted as losses


b) Posting items at nominal values (example: obligations of insurance companies)


c) Posting items in accordance with EVCA (European Venture Capital Association)