Zug-based investors CV VC, in collaboration with consultancy PwC Strategy& Switzerland and technology provider inacta, has compiled the first ever list of the top 50 companies in Crypto Valley. It reveals that Blockchain companies employ around 3000 people in Switzerland and Liechtenstein and have a combined market capitalization of US$ 44 billion. Included among the top 50 are five unicorns – startups with a market valuation of over a billion dollars.
Zug, October 9, 2018 - The number of companies in Crypto Valley working with blockchain technology is growing rapidly. As of September 30, 2018, a total of over 600 blockchain related companies in Switzerland and Liechtenstein were registered on CV Maps, an online directory of the blockchain industry created and maintained by CV VC. The number is nearly double that recorded in the spring of this year.
CV VC, a blockchain-focused investor and incubator in Zug, has worked with PwC Strategy& Schweiz and the information management firm inacta to identify the top 50 Crypto Valley companies based on CV Maps data.
Companies qualifying for this crypto super-league must meet three criteria: Firstly, blockchain technology has to be part of the company’s core business, secondly, it must employ more than one person in Switzerland or Liechtenstein, and lastly, it should make some contribution to the blockchain ecosystem and the wider Crypto Valley community. There are three additional criteria, at least one of which must be fulfilled: Funding in excess of US$10 million, a valuation of more than U$10 million or the provision of at least 10 full-time positions in Switzerland or Liechtenstein.
CV VC's report sheds light on the various sub-sectors of the industry, their market capitalization and their headcount.
In addition to CV Maps’ own databases, data used to compile the Top 50 was drawn from information provided by the companies themselves, from crypto exchanges, media reports and social media such as LinkedIn. Where no information was available, estimates were made and declared as such in the CV VC Report. Estimates of worth were rounded into four categories: $10 million, $25 million, $100 million and $1000 million ($1 billion).
"The Top 50 report shows that Crypto Valley has retained its appeal as a location for blockchain companies from all sectors" said Ralf Glabischnig, founder and managing partner of information management firm inacta, which built the CV Maps database.
The new information provided by CV Maps sheds light on the rapid growth rate of Crypto Valley. At the time of its April 2017 launch, the online directory contained 350 companies, just over half as many as there are today.
CV VC’s collaboration with PwC in developing the Top 50 report is part of a long-standing strategic partnership between the consulting firm and CV Labs, the CV VC’s co-working space in the center of Zug.
Daniel Diemers, Blockchain Leader EMEA at PwC Strategy& said: "Crypto Valley has grown enormously in just three short years. Even two or three years ago, there were just 10 to 15 companies in the blockchain industry. PwC was quick to realize the potential of Blockchain and how it is important for companies to understand the technology and to get close to innovative startups in the field“.
“Partnering with CV Labs and CV VC gives our clients this access. From the other direction, we also want to bring startups closer to potential investors and partners“, said Daniel Diemers. PwC has a global team of 2,000 blockchain specialists.
CV Labs, CV VC’s coworking space in the heart of Zug, is home to a growing number of blockchain startups, crypto funds, academic institutions and industry group The Crypto Valley Association since the beginning of 2018. With more than 100 tenants, Crypto Valley Labs has grown fast, opening two new floors of office space in September. "The strategic partnership with PwC and Wenger & Vieli AG shows that established companies are now entering the blockchain industry," said Mathias Ruch, CEO of CV VC.
You can download PwC’s press release here.
Narwal - Blockchain PR
+41 41 725 02 22