---
title: "Wavestone Swiss Cybersecurity Startup Radar 2026"
description: "Wavestone's 2026 radar maps Switzerland's cyber startup landscape. Panop is listed among the Swiss Gems moving from attack surface management to CTEM."
url: https://panop.io/blog/wavestone-swiss-cybersecurity-startup-radar-2026/
---

Article July 15, 2026 [Panop](https://panop.io/company) · Panop SA, Crissier, Switzerland

# Wavestone Swiss Cybersecurity Startup Radar 2026

Wavestone's 2026 radar maps Switzerland's cyber startup landscape. Panop is listed among the Swiss Gems moving from attack surface management to CTEM.

[Download PDF](https://www.wavestone.com/wp-content/uploads/2026/07/swiss-cybersecurity-startup-radar-2026-2.pdf)

On this page

1. [What the radar shows](#what-the-radar-shows)
2. [Why Panop is on the map](#why-panop-is-on-the-map)
3. [The Swiss angle Wavestone highlights](#the-swiss-angle-wavestone-highlights)
4. [Read the radar](#read-the-radar)

[Wavestone’s Swiss Cybersecurity Startup Radar 2026](https://www.wavestone.com/wp-content/uploads/2026/07/swiss-cybersecurity-startup-radar-2026-2.pdf) is a snapshot of how the Swiss cyber ecosystem is actually growing: creation remains stable, scaling is still gradual, and the map is still led by Zurich, Vaud and a handful of incubation platforms.

Panop is included in this year’s **Swiss Gems**: companies already on the radar that have moved in a material way since the previous edition.

## What the radar shows

Wavestone tracked **49 startups and scale-ups** (down two on the prior year), with **23 new** entries. Average company age is 3.4 years; average headcount is 15.7. The ecosystem is still a multi-hub one:

- Zurich remains the densest hub, with 17+ accelerators and incubators and 8 of 23 new startups in 2026
- Vaud is organised around EPFL Innovation Park and [Trust Valley](https://trustvalley.swiss/), which has supported 200+ startups
- Geneva (Fongit) and smaller hubs such as Ticino are picking up activity

Most Swiss cyber startups still sell first in Switzerland and Europe. **45%** have clients outside Switzerland; only **10.2%** have clients outside Europe. International expansion remains the hard part.

The five largest categories this year are Secure Data Exchange (14%), Data Security (12%), Network Security (12%), AI Security (8%) and Awareness & Training (8%).

## Why Panop is on the map

In the “News from Swiss Gems” section, Wavestone records Panop’s shift **from attack surface management to a Continuous Threat Exposure Management platform**, with backing from Trust Valley through [Tech4Trust](https://trustvalley.swiss/tech4trust/).

That is the same move our customers asked for: not another inventory of what exists on the internet, but a way to see which exposures are reachable, which matter to the business, and what to fix first. Product context is on our [product](https://panop.io/product) and [risk prioritisation](https://panop.io/solutions/risk-prioritisation) pages.

## The Swiss angle Wavestone highlights

Two themes in the 2026 radar line up with how we build:

- **Sovereign, trust-centric solutions.** Startups differentiate on data location, supply-chain control, open source, or Swiss/European funding. Panop is Swiss-hosted and built for organisations that have to show evidence, not just policy.
- **AI as a tool, not the category.** Most of the radar is “AI for cyber” (automation, detection, content). Very few companies yet focus on securing AI systems themselves. That gap is why we treat [AI-SPM](https://panop.io/solutions/ai-spm) as a first-class use case, not a feature footnote.

## Read the radar

The full report is published by Wavestone (July 2026). Use the **Download PDF** button above, or open it on [Wavestone’s site](https://www.wavestone.com/wp-content/uploads/2026/07/swiss-cybersecurity-startup-radar-2026-2.pdf).

About the author

[Panop](https://panop.io/company)

Panop SA, Crissier, Switzerland

Panop SA is a Swiss exposure management company founded in July 2024. Its platform discovers internet-facing, cloud and internal assets, validates which exposures are genuinely exploitable with autonomous offensive tests, and ranks the rest by business impact. Company announcements and ecosystem coverage are published under this byline.

- [LinkedIn](https://www.linkedin.com/company/panop-io)

[← Back to blog](https://panop.io/blog/)

The full briefing as a PDF.

[Download PDF](https://www.wavestone.com/wp-content/uploads/2026/07/swiss-cybersecurity-startup-radar-2026-2.pdf)