Crypto Valley on Solid Grounds
The lockdown was a special time of uncertainty for everyone, especially for the Crypto Valley. How will the blockchain ecosystem, which is still in its early stages, develop? Will the money tap dry up? Will the Crypto Valley become a «Death Valley», as certain critics and pessimists predicted?
Today we know: The Crypto Valley has mastered the crisis well is very much alive. Our latest CV VC Top 50 Report shows that in the first half of 2020 all indicators were positive: the number of companies (919, plus 8.4%), jobs (over 4780, plus 8.6%) and the market capitalization ($35.5B, plus 39%). In addition, several financing rounds have taken place, showing that the Crypto Valley, its blockchain projects and business models are on solid foundations and have so far been largely spared the effects of Covid-19.
Our second investor conference in Gstaad, the Alpchain, showed that the curiosity and interest in the blockchain technology is not only intact, but has even increased. More than 50 investors were inspired by the major trends and start-ups. We were particularly honored by the appearance of the former Swiss President Johann Schneider-Ammann, member of the CV VC board of directors, and Liliana de Sà Kirchknopf, Head of Private Sector Develepment Disvision at the State Secretariat of Economic Affairs (Seco). One of the goals of the Swiss Government is to better support entrepreneurship, create jobs and solve development challenges, which was also one of the main topics of this year's Alpchain, where we were exploring the potential of Blockchain for Africa.
Three conditions are important for the many African talents, blockchain technology and new ideas and companies to flourish:
1. The development of ecosystems and platforms where founders, investors, regulators, scientists, developers and politicians meet, exchange and network on a regular basis. This is an essential prerequisite and has ultimately made Crypto Valley the "Blockchain Nation Switzerland". Together with partners from Africa and Switzerland, we want to contribute this knowledge and expertise with our CV Labs ecosystem approach.
2. Blockchain-based solutions must be focused ont the challenges of the African Continent. No wonder that impact investing is an important topic at Seco, also considering that one third of global impact investments are managed from Switzerland. Our portfolio startups Proof of Impact, which tracks, measures and evaluates impact investments, together with Adhash and Asvin, have shown at the Alpchain why they have convinced investors and partners and why they have grown in recent months: Thanks to blockchain, they are able to achieve more transparent, immutable and traceable results that are specifically tailored to the target group, while at the same time massively reducing costs.
3. There is a need for investors who believe in the future of new technologies and are convinced of the potential of blockchain, also on the African continent. And this potential is huge, as the many projects driven by startups and large companies alike show.
Despite the global corona shock and the massive impact on the global economy, I am confident about the coming months and years in view of these recent developments. This is all the more true as we are establishing a new international advisory board and have been able to win Philipp Rösler, the former German Minister, Vice Chancellor and Managing Director of the World Economic Forum as president.
Welcome at CV VC, Philipp!
