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More space for innovative businesses to grow
Economics

More space for innovative businesses to grow

2 min. 21.01.2015 From our online archive
Additional facilities for start-up incubator, prototype laboratory and co-working space Technoport Luxembourg were officially inaugurated in Foetz on Wednesday.
Extension du Technoport Jean Orlando Marc Hansen Francine Closener Mario Grotz le 21/01/2015 photo Tania Bettega

(CS) Additional facilities for start-up incubator, prototype laboratory and co-working space Technoport Luxembourg were officially inaugurated in Foetz on Wednesday.

The offices in the Rue du Commerce in Foetz add several thousand square metres of office space to the project supporting start-ups in Luxembourg. The expansion means that Technoport can welcome nine additional innovative businesses, with two of the new offices already occupied.

Technoport currently hosts 23 companies at its two sites in Esch/Belval and Foetz, offering aspiring entrepreneurs a three-month programme to help in the development stage, as well as start-up launch programmes that run three to four years.

Economy State Secretary Francine Closener at the inauguration said that Technoport plays an important role in the development and diversification of the Luxembourg economy, especially in the area of ICT.

Some 90 percent of businesses to emerge from Technoport survive in the big world of business, Closener added, creating jobs and helping the Luxembourg economy grow in new sectors.

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The State Secretary also pointed to the “Digital Lëtzebuerg” strategy, which will further aim to enhance the start-up ecosystem in the Grand Duchy, for example through the creation of a seed fund in cooperation with the private sector. Closener said that the government is working towards a launch of the fund this year.

There was nothing but praise for Technoport at the opening ceremony on Wednesday, with State Secretary for Education Marc Hansen adding that it gives research and development made in Luxembourg international visibility, as well as turning it into profitable businesses for the Grand Duchy.

Jean Orlando of the Mondercange commune, of which Foetz forms part, also expressed his satisfaction at the growing innovation hub, saying that the commune is set to meet the government to discuss planning permission for further offices. Orlando explained that it is not only necessary to help businesses grow but also to retain them later.

For an interview with Technoport director Diego De Biasio, click here, and for more information about start-ups in Luxembourg read our Start-up Monday series.