#125-Tech Startup Landscape in Liechtenstein

Liechtenstein is a country with GDP per capita $165,028.25 (2016). It is a beautiful country situated in the alps mountain range. The government of the country encourages innovation. It is an excellent place to do business. The country’s public sector is financially powerful. The country has an AAA s&p long term credit rating, “An obligor rated 'AAA' has extremely strong capacity to meet its financial commitments. 'AAA' is the highest issuer credit rating assigned by S&P Global Ratings.” We can begin to understand a country’s tech startup landscape by taking a look at its venture capital firms. The country is home to many venture capital firms that help startups. Seed X Liechtenstein is a venture capital firm located in Schaan, Liechtenstein. The firm’s Partner-CEO is Mathias Jaeggi, who specializes in seed investments in startups in the fintech space. He joined the firm in apr, 2018. The firm started with investments in a debt collection tech startup and a proptech startup. In the Series A financing round of the fintech startup troy, Mathias said, “Our goal is to support the most capable entrepreneurs with the most innovative business models through capital, knowledge and our network. troy[sic] improves the business model, but also the customer experience in the collection industry massively.” In the seed investment round of the proptech startup EverReal, Mathias said, “We are enthusiastic about the outstanding software that has made the EverReal team a technology leader in the industry within a very short time. Accordingly, we are motivated to actively support the company in its further growth phase.” If you are looking to found a company, there are various legal forms. The most notable is probably a Liechtenstein Venture Cooperative (LVC). It is a platform “to bring ideas, work and capital together.” You are also allowed to start as a sole proprietorship, a foundation, a company with a limited liability (gmbh), a European company, a general or limited partnership, a company limited by shares, a registered trust, or a European economic interest grouping.

Headquartered in Vaduz, the Technopark Liechtenstein is a place where startups can grow in a collaborative environment. “From the original idea, to development, to distribution and marketing, the Technopark Liechtenstein is” a place with a lot of faces. It offers office spaces with internet, supplies, promotional events, and dedicated post office boxes. In addition to that, it also offers seed and growth financing for startups. Some remarkable tenant startups are TILCOIN, myLucy AG, Nash, Moondock, & Designbewerbung. TILCOIN is a blockchain-based investment platform for admirers of contemporary art. It promises authenticity of the art objects through expert review. Anaida Schneider is the founder and also the CEO-CFO of the startup. Based in Zurich, Switzerland, she has a strong background in wealth management, private banking, and client relationship. A reason why there are a lot of fast-growing blockchain startups in Liechtenstein is a conducive regulatory environment. “Liechtenstein is the first country in the world to have a clear Blockchain law. All tokenization projects pending in Liechtenstein can be neatly regulated. This creates legal certainty for startups as well as for corporates and is unique worldwide”, said Ralf Glabischnig, co-founder, CV Labs, in a recent interview with CV VC AG. MyLucy AG is a consumer-focused insurance-tech startup that incorporates modern communication in its operations. It manages the online portals, e-zulassung & clever drive. The latter uses a pay per kilometer/pay as you drive insurance model. Nash is a cryptocurrency exchange and wallet startup. It was featured on Product Hunt in September, 2020. One can purchase bitcoin, ethereum, & neo and do cross chain trading of cryptocurrencies on the platform. Mgtheboss’s blog got in touch with Nash. The corporation is handling around 3,500,00.00 L2 transactions per day. They expect the no. to grow significantly after the commencement of the trading competition, Nash League. Moondock offers venture capital to blockchain startups. It is headquartered in Liechtenstein & Berlin, Germany. In a Network Society Media interview, Callum Reid, Partner, Moondock said, the platform “leverages conversation between investors and startups” to create value in the blockchain space. The startup is focused on the European market. Designbewerbung is a design startup that designs aesthetically appealing resumes, CVs, business cards, application photos etc. Human resource experts have admired the services of this startup. It has ties with CAREERBOOSTER, another startup that offers professional coaching to job applicants to get their dream jobs.

The country is home to a number of reputed coworking spaces or startup parks. Kommod offers accommodation for startup operations, conferences etc. The location has good parking spaces, event lounges, & integrated hotels. It is 2 minutes away from the Ruggell/ Sennwald motorway exit. The restaurants, such as, tenn, serve regional cuisines. Kommod has good data protection policies. Liechtensteiner Business Center focuses on providing a dynamic and open working environment for startups. It offers shared, single, virtual, and team offices. It also has a dedicated reception area, with a touch of confidentiality and professionalism. Horst Büchel, a certified accountant & seasoned entrepreneur, is the MD of the center. Coworkingspace.li is many startups’ favorite place to innovate due to the affordable costs and tremendous membership benefits. It has elegant entrances, magnificent meeting rooms, grand graphics workstations, & wonderful workplaces. Online booking is available. Kokon has taken startup operations to a whole new level. The corporate campus has magnificent offices with great views to maximize creativity. In addition to that, it has fitness center, spa, & round the clock daycare.

Looix, a blockchain startup that started its journey in jan, 2018, is a few years away from becoming a household name by integrating cryptocurrency in various aspects of our lifestyle, according to experts. The startup is also focused on online betting and gambling platforms. Looix wallet supports ledger & offline address creation. It is an esteemed member of the crypto valley association. The five member core team of the company includes two developers, an administrator, an advisor, & a coordinator. Marcel Zehnder is the CEO of the company.

The country has strong diplomatic outreach for promoting startups. “Prime Minister Adrian Hasler is convinced that capacity for innovation is one of a country’s key competencies in the globally competitive marketplace”, according to an article published by the Embassy of the Principality of Liechtenstein. Startups such as Froogies have attracted a lot of media attention. It produces 100% natural fruit powers, as claimed in vitalabo.com listing. The startup was featured in Germany’s popular TV show, "The Lion's Den"/Dragon’s Den. It is a reality show focused on startups. In the show, entrepreneurs present their startup ideas to a panel of investors. The show has gained a lot of attention in recent times. In 2012, Sony Pictures Television inked a deal with Vox that paved the way to launch a local version of Shark Tank on german television, according to hollywoodreporter.

Liemobil is a notable transportation start up that started its operations in 2012. It offers timetable + line network & tickets + tariffs, recognizing “the mobility needs of people in Liechtenstein.” It covers over 300 stops. It also offers ski & night bus trips. School bus services from the company are gaining popularity among school children & parents. The platform takes care of around 35,000 passengers, on peak days. It also generates revenue from advertising services. It offers bus advertising, rear, side, & full,  screen & billboard advertising in the passenger compartment. It offers single & day tickets, along with weekly, monthly, & annual subscriptions.

START Vaduz is a chapter of the START Network engaged in entrepreneurial exploration. It partnerships with technopark Liechtenstein, startup platform, & fintech.li. Founded in 2004, it acts as a bridge between members on one hand and companies, venture capitalists, & startups on the other hand. Luis Schaubhut is the President of the chapter. He is also a marketing manager at actus ag, a final services corporation focused on tax consultancy and head of operations at finteh.li, a conference startup with an aim to increase engagement in the fintech community. Fintech.li operates in “cooperation with the Financial Market Authority of Liechtenstein.”

The government of Liechtenstein succors applied research & innovation through a number of public institutions such as, RhySearch. The institutions operate as a networking platform for startups. They support them from the ideation phase till the implementation phase. Business Angels Club Liechtenstein organizes meetups and pitching occasions and evenings. There are also business management consultants helping tech entrepreneurs realize their dreams. In investor summits, the investors, decision-makers, & startups get the exclusive opportunity to “know new innovations and exciting business models”. The government plays a very active role in supporting these conferences. In conclusion, Liechtenstein’s stat up community appears to have a secure foundation, vibrant talent pool, and bright future.