Insights from CV Labs Zug on the 2024 Global Startup Ecosystem Report

  • Switzerland: Ranked 10th globally out of 100 countries
  • Zug: 112th globally among 1,000 cities
  • Highlighting the importance of strategic location, technological integration, and robust support systems in navigating the current deglobalization in the startup landscape

As we move through 2024, the global startup ecosystem faces challenges and ample opportunity. The tightened capital availability for all sector startups is compounded by geopolitical tensions and a retreat from globalization. These dynamics highlight the opportunity of choosing the right location for establishing a startup. At CV Labs, we understand this intimately. As the ecosystem business pillar of CV VC, a dedicated blockchain technology VC, we are proud to call Zug—the heartbeat of the Swiss blockchain industry, known as “Crypto Valley” - our headquartered home.

Switzerland: Ranked 10th globally out of 100 countries

Switzerland has re-entered the global top 10 startup ecosystems, ranked 10th overall and 6th in Europe. This achievement underscores the strength of Switzerland's decentralized approach, where multiple high-quality ecosystems contribute to its overall ranking. Zug exemplifies this success. Known for its low corporate tax rates and supportive environment, Zug houses the headquarters of Ethereum, other leading blockchain pioneers, and a pulsating network of 512 other blockchain companies.

Zug: 112th globally among 1,000 cities

The 2024 Global Startup Ecosystem Report by Startup Blink underscores the critical role of location in the current climate. Amidst a fragmented global startup ecosystem, Zug has ascended to prominence. Ranked 3rd in Switzerland, 24th in Europe, and 112th globally among 1,000 cities, Zug stands out for its thriving blockchain and cryptocurrency industries. This ranking highlights the city's strategic importance and its supportive environment for blockchain startups.

Shift to Deglobalization

The fragmentation of global capital flows signals a shift towards regional hubs. This trend emphasizes the importance of local ecosystems. Zug's stable, well-organized environment and supportive regulatory framework make it a resilient and attractive hub in this deglobalized landscape.

Zug Embraces Technological Shifts

In the face of significant technological shifts, particularly the rise of blockchain and AI, Zug's startup ecosystem is well-equipped to support entrepreneurs. The city's access to talent and resources enhances the ability of startups to foster innovation and competitiveness. Moreover, Zug's blockchain ecosystem benefits from robust federal, business, banking, and legal services support initiatives. This network is invaluable for startups looking to scale and innovate. Perhaps too, it is the assuredness of the Swiss mindset that also attracts innovators to locate here, and the balanced regulatory landscape that allows builders to work in a regulated framework.

The Role of Government and Private Sector Collaboration

The Swiss startup ecosystem thrives on the collaborative efforts of the public and private sectors. Organizations like the Swiss Innovation Agency, Innosuisse and Greater Zurich Area play crucial roles in promoting entrepreneurial awareness and connecting Swiss entrepreneurs with global resources. In Zug, cantonal federal support such as by Stadt Zug and Economic Promotion Canton of Zug play a vital link. Concurrently, the private sector, through initiatives like CV Labs, and associations such as Crypto Valley Association, DAO Suisse, and Swiss Blockchain Federation actively support the growth and development of the blockchain ecosystem.

Join us in Leading the Way from Zug

The 2024 Global Startup Ecosystem Report highlights the importance of strategic location, technological integration, and robust support systems in navigating the current startup landscape. Zug exemplifies these qualities as the heartbeat of the Swiss blockchain industry. At CV Labs, we are committed to fostering growth and innovation within Zug's vibrant ecosystem, ensuring it remains a leading hub for blockchain technology startups.In these challenging times, our message to founders and stakeholders is clear: choose your ecosystem wisely, invest in advancements, and leverage the support of collaborative networks. By doing so, you can survive and thrive in the evolving global startup landscape.

To learn more about Zug and Crypto Valley, read The CV VC Top 50 Report here

To engage with the pioneers of Zugs startup ecosystem, join us at CV Summit 2024

To access the full StartupBlink Global Ecosystem Index, see here

Written by
CV Labs