Luxembourg offers a whole range of aid measures to promote innovation and entrepreneurship. Aside from standard financial aid to foster investments in research and development (R&D) for companies, many public players offer tailor-made consulting to future entrepreneurs and start-ups in order to make their innovative ideas come to life.
Start-ups are a vital driver for the development of a country's economy, the creation of new jobs and the promotion of innovation. Luxembourg pursues its efforts with a view to being recognised as a 'Start-up Nation'.
The development of an ecosystem favouring the appearance of innovative start-ups in Luxembourg is a crucial element to successfully establish an effective policy of economic diversification in key technological sectors such as information and communication technologies, health technologies, sustainable technologies, the space sector, logistics and the industry 4.0.
Delivering exemplary projects in the context of hosting infrastructures (incubators) and the financing of start-ups through various tools such as funding and support programmes (Fit 4 Start) or investment funds (SNCI Bank's Digital Tech Fund or Luxembourg Futur Fund) are key elements to implement this diversification strategy.
Luxembourg pursues its efforts towards its start-up ecosystem and continues to gain visibility both nationally and internationally so as to attract technological entrepreneurs, investors and start-ups on its territory.
Luxembourg has developed the Cluster Initiative in sectors considered as a priority for the promotion of its economy's diversification. The aim is to stimulate innovation and forge stronger links between companies within the same sector as well as to promote relations between companies and public research structures.
These clusters focus primarily on economic sectors with high added value for Luxembourg, such as, in particular:
- Automotive components
- Clean technologies
- Health technologies
- Information and communication technologies
- Creative industries
- Materials and manufacturing processes
- Business tourism (MICE)
- Space technologies
Today, Luxembourg is home to a whole ecosystem of public and private incubators, which support future entrepreneurs every step of the way.
They provide assistance and appropriate guidance for the development of new projects, thereby facilitating their growth and development. They also act as intermediaries by offering temporary hosting solutions to national and international start-ups that want to go into business in Luxembourg.
Luxembourg offers several public aids aimed at encouraging research, development and innovation activities, in particular within the framework of the law of 17th May 2017. Companies are therefore spoilt for choice and Luxinnovation, the national innovation agency, offers free support to help them find the best tools according to their specific needs. Consequently, national companies are supported and encouraged to innovate and develop in order to address the technological challenges and opportunities that the future entails.