Innovation is essential to biomedical ventures, but finding the necessary financing can be difficult for small and/or early-stage firms. For this study, 73 Swiss biomedical companies provided data on their use and perceptions of public and/or philanthropic funding. Of the responding companies, 94% had applied at least once for public funding, and 85% of those who applied received funds. Forty-eight percent of companies have a success rate of more than 50% with their grant applications. Lack of time and human resources were the major reasons for not applying or for not applying more often. Concern about intellectual property rights was a further impediment. Related to these points, firms suggest that funding agencies apply a simpler and more transparent application procedure.