Benefits of opening a startup in Luxembourg in 2023
Opening a startup in Luxembourg in 2023 is an excellent option for business in Europe. Among its advantages are economic and political stability, high confidence among investors, attractive tax incentives, and a developed infrastructure for IT business.
Luxembourg's advantages for startups
Opening a startup in Luxembourg in 2023 is profitable. It has a robust innovation ecosystem, including incubators, acceleration centers, research centers and universities. New projects can be supported by cooperation with scientific organizations and business communities.
Luxembourg incubators and acceleration centers
There are many incubators and acceleration centers in Luxembourg offering startup support and assistance at different stages of their development. The best-known are:
- Technoport - specializes in technology and innovation projects. It provides startups with a place to work, training, mentoring, and connections to investors who may be interested in their services. Technoport organizes business project development programs and networking events.
- Luxembourg City Incubator - focused on young companies in different industries. The organization offers infrastructure, coaching, and support for new projects.
- Lux Future Lab - focused on financial technology and e-commerce. It provides startups with workrooms, the opportunity to learn from experts, and investor connections. The organization offers different events and programs for the startup community.
Thus, if you decide to start a new project in Luxembourg, you will get diverse solid support.
Research centers and universities
Several research centers and universities in Luxemburg collaborate with the business community and encourage innovation. Among them is the University of Luxembourg, which has research centers in information technology, financial services, biomedicine, etc.
Funding and investment
Luxembourg provides access to different sources of funding for startups. Their development is facilitated by:
- Venture capitalists - Mangrove Capital Partners, Partech Partners, Expon Capital, Kharis Capital, etc.
- Risk capital funds - Luxembourg Venture Capital Initiative, Digital Tech Fund, Boundary Holding.
- Private investors - many communities in Luxembourg are interested in investing in new projects. These include LBAN, LPEA, Family Offices, etc.
- Public funding programs, e.g., Luxembourg Future Fund.
Local startups can benefit from access to European investment funds and EU programs.
Clusters and communities
Luxembourg actively develops clusters and communities that bring together startups, investors, academic institutions, and companies in specific sectors. For example, the Luxembourg ICT Cluster focuses on information and communication technologies, and the Luxembourg BioHealth Cluster targets biotechnology and health care. These clusters promote cooperation, exchange of experiences, and create new opportunities for young companies.
Government support
The government of Luxembourg supports innovative projects with a variety of programs:
- FNR is a government foundation that sponsors and supports research and innovation in Luxembourg. It offers grants and funding for research projects in science and technology.
- Fit 4 Start is a program that provides sponsorship, training, mentorship, and a place to work. Participants also get access to experts, investors and potential clients.
- Luxembourg Future Fund - sponsors startups at different stages of development, helps them grow and achieve success.
How to build a startup in Luxembourg
Contact IT-OFFSHORE to register a startup in Luxembourg in 2023.