Innovation Hub for new start-ups
A 'innovation hub' project for new start-ups has been launched in the south of Luxembourg.
It will be Dudelange's first incubator for young innovation and technology companies, located at the 'Nei Schmelz' site which was Arcelor-Mittal's last administrative headquarters.
Measuring more than 500 sq m, the site will be completely renovated and converted into 14 offices and meeting rooms. The renovation works will cost up to €175,000 and 80% of the cost – or €140,000 – will be covered by the state.
Start-ups will fall into two categories:
- Those which are less than two years in the making will be able to stay for up to five years. The Innovation Hub will act as their base and they will pay a rent of €15 per sq m.
- Those which are more than two years old. The Innovation Hub will be a link for them during the transition period before they are able to become completely autonomous. They will pay a rent of €20 per sq m.
They will be selected by Luxinnovation and Technoport.
Secretary of State for the Economy, Francine Closener, said during a presentation of the project on Friday that the Hub is part of Luxembourg's "effort to progressively transform into a 'start-up nation'".
(Heledd Pritchard, firstname.lastname@example.org, +352 49 93 459)