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How to take advantage of Luxembourg’s thriving Startup ecosystem
There are several initiatives in Luxembourg that allow to develop and encourage entrepreneurship
- The Espace Entreprises information centre of the Chamber of Commerce and the Contact Entreprise service of the Chamber of Trade are one-stop shops that provide businesses and project promoters with information and advice on various aspects of the life of a company.
- The Business Mentoring scheme of the Chamber of Commerce and the Luxembourg Business Angel Network are two further initiatives that support the development of companies.
- The international business plan competition 1,2,3,GO of the Chamber of Commerce enables competitors to benefit from the guidance of experienced coaches for the elaboration of their business plans.
Luxembourg has also several business incubators that help startup companies by providing services such as management training or office space, and co-working spaces.
As for funding, the Ministry of the Economy and Foreign Trade offers financial aid specifically set aside for young innovative businesses. Other schemes, such as the Plug & Play of the Ministry of the Economy and Foreign Trade, PwC Luxembourg’s company accelerator and the Europe4Startups project, also offer support for young innovative businesses.
Luxinnovation, the national agency for innovation and research, provides assistance to innovative startups at any stage of the deployment of the project, from the analysis of the idea and the writing of the business plan to the search of financing and the establishment of relationships with technology partners.
And, in January 2015, the Luxembourg Government Council has adopted a bill establishing a new type of company, the simplified private limited liability company (or SARL-S). The bill is aimed in particular at individuals who want to launch a business that requires no great investment or start-up capital. The administrative procedures are simplified and the company can be founded with a minimum share capital of only 1 euro!
11/2021
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Incentives and assistance to boost Luxembourg entrepreneurs
The government is increasingly keen to attract entrepreneurs to Luxembourg as well as to nurture entrepreneurial ambitions among the country’s residents - and is providing financial incentives and other forms of assistance to encourage them.
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Five good reasons to start regular investing
You want to improve the return on your savings and make your first steps in the investment world but you don’t know how to do it? Why not trying regular investments? This financial solution is to invest on a regular basis (every month or every quarter) the same amount of money, fixed in advance, in an investment fund. Here are the main advantages.
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5 questions you need to ask before investing
Investing is a good way to supplement your savings and attempt to make it grow, provided you’re well prepared for it. Here are the five fundamental questions you need to answer beforehand.