Luxembourg is looking for urban farmers
A new pilot project in the capital will try out multi-faceted farming in a built-up setting as a source of food and environmental awareness
Luxembourg boasts steady economic growth and stable political institutions
“Silicon Valley'' is the label of a well-known southern San Francisco Bay area in California where all the world's tech giants such as Google and Facebook have set up their bases. In general, more and more “Silicon Valley'' tech start-ups demonstrate a diversity of industries. Smart solutions, such as artificial intelligence or autonomous vehicles facilitate the lives of societies unquestionably.
Today, European venture investments have already reached EUR 43.8 billion in value, according to CNBC data. Big cities of Europe, such as London, Stockholm, or Munich are the centres of highly developed economies. However, the wealthiest partof the Benelux region, Luxembourg, has demonstrated commendable progress in business digitalization.
According to Startupheatmap, from 2018 to 2019 this small country’s tech ecosystem funding has quadrupled. The Grand Duchy has often been facing challenges such as its small size, lack of natural resources, and landlocked geographical location. Yet, these days, the following question arises: is Luxembourg becoming the Silicon Valley of Europe?
Located at the heart of Europe and between Germany, France, and Belgium, Luxembourg boasts stable economic, political and social environments suitable for the growth of start-ups. One of the most important drivers for innovation is diversity and the Grand Duchy is something of an expert in embracing this.
The majority of its inhabitants are foreigners and most speak four languages – as a result one could speak of the presence of diverse business orientation. At present, approximately 500 start-up communities have already set up shop in the country.
Luxembourg also promotes itself as a forward-looking nation defined by the active cooperation between stakeholders and government bodies. Recently financed by the Ministry of the Economy, the Luxembourg start-up portal has been launched to level up the digital economy.
Also, the fact that the University of Luxembourg ranked 12 in the Times Higher Education (THE) Young University Rankings 2018, creates resources for many companies to retain the multilingual speakers' talent pool. The country has also been ranked as the second most sustainable in the world by the 2020 Environmental Performance Index.
All of the above is an indication that Luxembourg is more than willing to develop as a sustainable nation. Additionally, the pro-business environment offers simple access and valid resources to decision-makers, such as investors or public authorities, to expand the tech entrepreneurship scene.
Luxembourg has plans to become the most trusted data economy market within the European Union by 2023
For a long time, Luxembourg has been a global financial leader and it is now also a centre for fintech and data-driven businesses. The Grand Duchy has plans to become the most trusted data economy market within the European Union by 2023.
Luxembourg’s ICT infrastructure such as data centres, connectivity and, most importantly, cybersecurity are regarded as high-end. Therefore, these reliable data processing capacities provide a suitable medium for e-commerce and e-payment companies to prosper.
To give an example, big players such as Amazon, Paypal and Rakuten have chosen Luxembourg as their European headquarters. Also, this country’s human resources are replete with PhD graduates and ICT specialists, a fact that boosts the long-term strategies of the fintech sector. In other words, large companies, SMEs and start-ups have opportunities for the development of digital skills of their staff.
Big players such as Amazon, Paypal and Rakuten have chosen Luxembourg as their headquarters‘ base in Europe
Space ambitions have been declared in Luxembourg since the 2016 launch of SpaceResources.lu – making Luxembourg the first to adopt long-term space resources. The country endeavours to attract companies and talents that will develop a robust ecosystem for the space sector.
It is important to mention that to captivate young professionals is not a simple mission. However, Luxembourg strives to create a versatile community of space pioneers, including companies and citizens. Consequently, around 50 aerospace players are flourishing with different ideas.
In general, what has changed about this industry is that the sector has become increasingly privatized. It has created conditions for more innovation and venture capital to flow in. Today, Luxembourg can offer not only support for funding and research resources but also a network of international contacts.
The country endeavours to attract companies and talents that will develop a robust ecosystem for the space sector
One of the key formulas for a thriving technologies ecosystem is to embrace openness and easy exchange of ideas. It is not only about sharing, but is also about networking and cooperating to actively complement each side of the value supply.
Despite its small size, Luxembourg has been demonstrating strong technological and digitalization achievements in the past years. When juxtaposed to strong European technology hub spots, such as London or Berlin, Luxembourg’s efforts and initiatives appear even more impressive.
The country’s economy has been growing steadily and the political system prioritizes disruptive initiatives. Local and international talents can get high-quality education at the University of Luxembourg and grow within the national ecosystem.
Data-driven solutions and especially fintech players have already settled in the Grand Duchy. Aerospace and satellite communications create a distinguished sector that furthers scientific expansion.
Overall, the question of Luxembourg becoming a new “Silicon Valley” is more dependent on time and niche exploration. As it has been pointed out, the country has all the strategic capabilities to provide tech start-up funding and digitalization opportunities for SMEs and large companies.
If you want to keep up with how European cities and regions are changing, follow us on Facebook, Twitter and Instagram.
Officials from the archipelago paid a visit to Lower Saxony (Germany) to get acquainted with the power of hydrogen trains
After the Berlin Constitutional Court declared the September 2021 local election invalid, the city is getting ready for a re-do
The digital transformation has reached the geographical dimension
The digital transformation has reached the geographical dimension
Search for health, search for well-being - in any sense and category of these terms
The Agri-Tech centre in Osnabrück has a lab, workshop and test field all rolled into one
Officials from the archipelago paid a visit to Lower Saxony (Germany) to get acquainted with the power of hydrogen trains
Eleven museums have united their efforts to do concrete analyses on emissions and share know-how on how to bring down emissions
It is meant as a response and companion piece to the annual San Remo festival - Italy’s premier pop music event
Eleven museums have united their efforts to do concrete analyses on emissions and share know-how on how to bring down emissions
The city will kick off its stint as the European Capital of Culture for 2023 on 17 February
It is meant as a response and companion piece to the annual San Remo festival - Italy’s premier pop music event
The new itineraries are part of the DiscoverEU programme, which lets 18-year-olds travel by train between important European sites
The European Commission has published its first progress report charting the achievements of the socio-cultural movement that combines beauty, inclusion and sustainability
The 2023 edition of the creative initiative promises to be bigger, bolder and more inclusive
Veni Markovski’s take on dealing with disinformation in the European Union's poorest country – Bulgaria
A conversation with the mayor of Utrecht on the occasion of her mission to COP27
A conversation with the President of the European Committee of the Regions, about energy, climate change and the underrated importance of cohesion policy