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Baar a small town located in the canton of zug in switzerland has quietly emerged as a hotbed for entrepreneurship and innovation in recent years the history of entrepreneurs in the area can be traced back to the 16th century when baar was a center for silk production today the towns proximity to the city of zug and its reputation as a hub for finance and technology have attracted a growing community of startups and entrepreneurs key historical events in baar include the founding of the swiss confederation in 1291 which has had a significant impact on the countrys political and economic landscape nestled between the beautiful swiss alps and lake zug the area provides an idyllic backdrop for innovation and creativity the population of baar is around 24000 people with a significant proportion engaged in the financial and technology sectors the town has seen several technological innovations in recent years particularly in the areas of fintech and blockchain companies such as crypto valley association and the blockchain platform ethereum have established their presence in the area baar is home to several successful startups including the fintech company advanon the cybersecurity firm securosys and the online investment platform amnis ventures additionally several international companies such as the pharmaceutical giant roche and the technology company hewlett packard enterprise have their headquarters in the town the living wage in baar is around chf 4500 approximately usd 4800 per month which is relatively high compared to other towns in the region the unemployment rate in the canton of zug is around 2 with a significant proportion of the population employed in the finance and technology sectors largely driven by the finance and technology sectors the citylevel gdp of baar is around chf 4 billion approximately usd 43 billion the rate of new companies starting and ending in baar is relatively low with many startups experiencing success and growth in the region the towns reputation as a hub for innovation and entrepreneurship coupled with its favorable business environment and access to capital have contributed to the economic growth and success in baar