Modus Foundation partners with FONGIT to boost sustainable mobility innovation
Business environment
22 October 2024
The collaboration will double the resources available to fund mobility projects led by start-ups in Geneva.
The Department of Economy and Employment (DEE) and the Geneva Foundation for Technological Innovation (FONGIT) have announced a new partnership with the Modus Foundation to support the development of sustainable mobility solutions.
The Modus Foundation, established in July 2023, focuses on promoting eco-friendly mobility with a low carbon footprint. Through its new partnership with FONGIT’s Innovation Fund (FIF), the Foundation will provide financial support to start-ups working on projects that promote sustainable transportation solutions.
“This is excellent news,” said Delphine Bachmann, State Councillor in charge of the DEE. “The arrival of a new player in the FONGIT scheme strengthens its innovation fund and opens it up to other sectors of the economy. Developing public-private partnerships is essential to support innovation and improve the quality of life for the people of Geneva.”
Supporting mobility innovation
The Modus Foundation’s involvement will enhance FONGIT‘s ability to support startups addressing mobility challenges. “This partnership allows us to support start-ups working on solutions for sustainable mobility by accelerating the development of innovative projects,” explained Guillaume Drevon, Director of the Modus Foundation.
To date, FIF has primarily funded high-tech start-ups in fields such as medical technology, IT and life sciences. With this new partnership, FONGIT plans to broaden its focus to include projects in sustainability and digital technology, supporting the broader economic and social transformation of Geneva.
Increased interest in mobility projects
FONGIT has already seen a growing interest in mobility-related initiatives. This joint funding approach will provide additional financial resources to help Geneva-based start-ups innovate in the field of sustainable mobility. The partnership with Modus will play a key role in strengthening Geneva’s position as a hub for sustainable and future-oriented mobility solutions.
