Trending Zug, Switzerland Startups

Zug also known as crypto valley is a small town in switzerland that has quickly become a hub for technology startups the town is located in a beautiful area surrounded by mountains and is home to a population of around 30000 people the town has a long history of entrepreneurship with many successful businesses being started here over the years however in recent years the focus has shifted towards technological innovation particularly in the areas of blockchain and cryptocurrency zug is home to many companies founded in the area including some major players in the cryptocurrency industry such as ethereum bitmain and shapeshift additionally many companies have moved their headquarters to zug due to its favorable business environment and low taxes one of the key historical events that zug is known for is the signing of the swiss federal charter in 1291 which is considered to be the foundation of modern switzerland the town also has several universities and institutions that focus on technology and innovation including the university of applied sciences and arts of southern switzerland and the crypto valley association the living wage in zug is high with an average monthly salary of around chf 6800 approximately 7500 usd however the unemployment rate is very low with only 28 of the population being unemployed the city level gdp is also very high with zug being one of the wealthiest regions in switzerland the rate of new companies starting in zug is high with many entrepreneurs flocking to the area to take advantage of the favorable business environment and the presence of other successful startups however the rate of companies ending is also high as competition in the area is fierce and startups need to be innovative and agile to survive overall zugs startup scene is thriving due to its favorable business environment technological innovation and high concentration of successful startups however the scene is also very competitive and startups need to constantly innovate and adapt to stay ahead