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PARK INNOVAARE is one site of Switzerland Innovation, the Swiss innovation park. It was born as a result of an application submitted by the Canton of Aargau with the support of the Paul Scherrer Institute (PSI) and the University of Applied Sciences and Arts Northwestern Switzerland (FHNW), in response to the call for tender issued by the Conference of Cantonal Directors of Economic Affairs (VDK) in March 2013. A year later, in July 2014, an independent international committee evaluated all the applications and judged PARK INNOVAARE to be the best of all the projects presented.
Today, Switzerland Innovation consists of a network of five locations. Besides PARK INNOVAARE, the network includes Park Basel Area, Park Biel / Bienne, Park West Network EPFL and Park Zurich. As a joint instrument of a marketing initiative of the federal government, cantons, science and business, Switzerland Innovation is designed to provide research-oriented companies with a favorable environment where science-based innovations can be developed and applied to the global market.
The project has a number of advantages, such as the fact that Switzerland Innovation is becoming a brand that is being actively promoted abroad. This benefits all of the locations in terms of site development.
In addition, the federal government is offering new, exclusive funding instruments. Of particular importance is the federal guarantee of CHF 350 million, available in the form of a framework loan. With this guarantee, PARK INNOVAARE can be granted a loan under advantageous conditions, enabling companies located in here to realize their projects and finance their research infrastructure (equipment, facilities). The guarantees can be granted in instalments of up to CHF 10 million. Funding is secured by the National Foundation upon the request of PARK INNOVAARE.