The Luxembourg Startup Mindset
Luxembourg is known for its quaint castles, picturesque sceneries as well as being the last Grand-Duchy. Surrounded by its neighbours France, Germany and Belgium; Luxembourg might be small in comparison, but it’s economic prosperity ranks as one of the highest in the world. Arch Summit is the tech event that takes place in Luxembourg - the perfect place to bridge the gap between corporations and startups. Read on to discover the many factors that make Luxembourg the perfect location to support your financial endeavours.
Open to Innovation
The government has created multiple equity-free funding programs, coaching and funding opportunities to make Luxembourg as startup friendly as possible. Some of these initiatives include Luxinnovation (a national agency that promotes innovation and research) and organisations that offer financial aid for early-stage startups (Luxembourg Future Fund and the National Credit and Investment Institutions (SNCI). The House of Entrepreneurship was also set up to simplify entrepreneurial administrative procedures and the House of Startups hosts around 200 innovative startups among various industries. The innovation spirit is alive in Luxembourg's culture as well since in 2017, the proportion of entrepreneurs in Luxembourg in compared to the total population is 9.3%, which is higher than the European average (8.3%).
"Whether you are already in Luxembourg, or abroad but interested in setting up an enterprise here, we are there to help you turn your innovative ideas into reality.”
-Jean-Paul Schuler Managing Director Luxinnovation, come see them at Arch Summit!
It’s no secret that Luxembourg’s economy is strong. It boasts a growth of 3.9% year-on-year in 2018 according to STATEC. Luxembourg is politically stable, with a very low public debt at only 20% of GDP. The employment rate has also grown by 50% over the past 20 years, in comparison to the EU’s average of 20% (EUROSTAT). In FDI Intelligence’s report for Digital Economy of the Future (2018/19) ranks Luxembourg as one of the top 10 economic potentials.
Being right in the middle of Europe makes Luxembourg an ideal place to access all the important European decision-makers. Some of the most bustling economic cities of Europe - be it Paris, Amsterdam, Frankfurt, London, Berlin, etc. - are a quick drive or plane trip away. As one of the European Union founder members, Luxembourg also is home to many important EU offices such as the Court of Justice of the European Union and European Investment Bank. As a multicultural hub, Luxembourg hosts more than 170 different nationalities. This makes any Luxembourgish workforce multilingual and multicultural. Luxembourg is truly the heart of Western Europe, and its accessibility improves businesses’ chances of growing through connections with the right people.
Luxembourg is the prime location to drive innovation! Don’t miss the opportunity to explore its thriving business environment. Become a part of the generation of technological ideas, and come to Luxembourg’s Arch Summit April 3-4, 2019. Book tickets now at https://www.archsummit.lu/tickets/
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