{"id":154,"description":null,"name":"Andorra","shortName":"AD","bounds":"42.4287488,1.4087052,42.655791,1.786639","regionIds":"6,9,40,10,15","parentRegion":9,"unicorns":0,"website":null,"population":80088,"tractionRank":null,"customDescription":"
![Free Andorra Flag photo and picture](https://cdn.pixabay.com/photo/2017/12/23/23/24/andorra-3036176_1280.jpg)\n
Andorra, one of the smallest countries in Europe, is located in the Pyrenees mountains, locked between France to the north and Spain to the south. The main source of income for Andorrans is tourism, which accounts for the majority of the country's GDP. The Banking sector is secondary, as it enjoys Andorra’s special tax status. Andorra also has many EU trade privileges despite not being an EU country. Expats and digital nomads have also noticed this unique situation and a few of them are already making Andorra their home.
==read-more==\n
Over the last few years, Andorra has been promoting innovation through collaborative initiatives with various international centers and entities, such as the Massachusetts Institute of Technology (MIT), Google, Visa, the Quartier de l’Innovation in Montreal (Canada), and Carto, one of the top companies in data analysis and spatial data visualization. In this way, the Pyrenean nation is transforming into a genuine innovative living lab, with projects spanning mobility, energy, the environment, and tourism.
\n
And indeed, Andorra has a National Strategy to modernize its economy and create an attractive environment for open innovation. One of the key players in supporting the innovation, competitiveness, and sustainability of the Andorran entrepreneurial ecosystem is [Andorra Business](https://www.andorrabusiness.com/en/), an agency for economic development in Andorra. [Andorra Startup](https://www.andorra-startup.com/) is the project of Andorra Business and [Andorra Research + Innovation](https://www.ari.ad/en), and it connects the community of entrepreneurs, business accelerators, infrastructures, companies, investors, and government entities. These two organizations have also organized a scaleup program that supports sport-tech startups.
\n
Andorra has made significant efforts to modernize its political system and, as a result, to establish an investment and business-friendly climate. The country is wide open to foreign capital and has created a favorable tax environment.
\n
The country has several challenges, such as a small population and limited funding opportunities. Yet, the opportunity for this small, landlocked country to develop its startup ecosystem lies in thinking outside of the box and leveraging on its lack of limitations as a country not part of the European Union.
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