Luxembourg the Place To Be for Startups as Innovation Trajectory Maintained

On Tuesday, Deloitte Luxembourg took the opportunity to discuss entrepreneurship and innovation with business representatives from across the country at the launch of the sixth edition of its analysis of the German-speaking market in Luxembourg.

“Initiatives such as the LHoFT, Luxinnovation and Mind & Market make a valuable contribution to the development and expansion of an innovation ecosystem that not only links startups and other businesses to one another within Luxembourg, but also connects more and more foreign market participants – especially when it comes to our neighboring countries. For the GBC as a promoter of cross-border business initiatives, the topic is therefore interesting in two respects," explained Andreas Meier, Partner and German Business Community Leader at Deloitte Luxembourg. “We felt it was important to explore the subject with special attention to the German-speaking market and exchange with local businesses" he continued.

Luxembourg maintained its innovation trajectory in 2018 and paved the way for further expansion of the startup sector, by launching—among other things—the House of Start-ups. Among European countries, Luxembourg has an unrivalled understanding of how to support startups and young companies.

During the event, Marc Glesener, founder of M(a)G Solutions, chaired a panel discussion where he was joined by Alexander Fridhi, CEO of Digital Devotion Group, Stefan Berend, Head of Start-up Support at Luxinnovation, and Hans Werner Stuckart, Managing Director of REInvest Asset Management S.A. Deloitte Luxembourg was represented by its FinTech Leader Carlo Duprel.

While all participants agreed that Luxembourg has no lack of strong entrepreneurs, nor good ideas, financing on the other hand — especially when it comes to cross-border activities — is an issue that needs to be further developed in the coming years. This is especially important as Luxembourg is used by many entrepreneurs as an access point to international markets.

With the event and the brochure, the German Business Community (GBC) of Deloitte Luxembourg helps to promote dialogue among German-speaking market participants based in Luxembourg and create synergies.