Inaugurated 20 years almost to the day after the opening of Luxembourg’s very first technology incubator, Technoport, HoST is the latest addition to Luxembourg’s dynamic start-up ecosystem and has been designed to firmly place the capital on the map of leading start-up cities in Europe. The ambition of its creator, the Chamber of Commerce, is to attract and develop successful start-ups and to contribute to the economic transformation of Luxembourg. “We are working to face existing challenges and anticipate those of tomorrow,” said Michel Wurth, the President of the Chamber of Commerce.
Incubators and accelerators
“When people work together, great things can happen,” exclaimed Deputy Prime Minister and Minister of the Economy Etienne Schneider in his inaugural speech. HoST in indeed based on a collaboration between a number of organisation and home to no less than five incubators and accelerators.
The Luxembourg House of Financial Technologies is the largest tenant of HoST, focusing on start-ups active in the field of technology innovation for the financial services industry. The incubator was opened a year ago and has already filled most of its facilities in HoST with budding companies. The Luxembourg City Incubator welcomes start-ups in fields such as urbantech, commerce, tourism, environment and logistics. HoST is also home to Hub@Luxembourg, the first international incubator set up by French bank Crédit Agricole.
The nyuko accelerator supports start-ups in the early and later stages of their development. The activity of its neighbour, the International Climate Finance Incubator, is aligned with Luxembourg’s position as a world leading fund administration and distribution centre. It targets fund managers in green finance.
HoST also offers a Check Point where young businesses the opportunity can consult 15 resident experts in fields such as law, marketing, data management, web design and accounting. This service is available without prior appointment, both to companies hosted by HoST and others.
Big ideas, open minds
The Luxembourg government has made considerable efforts over the years to create a favourable environment for entrepreneurs. Lydie Polfer, the Mayour of the City of Luxembourg, highlighted that the major international community of Luxembourg – around 70% of the inhabitants of the capital have a non-Luxembourgish passport – strongly contributes to creating a creative atmosphere. “Luxembourg might be small, but we have big ideas and open minds. We are dynamic and determined, so let’s keep innovating!” Minister Schneider concluded.
Photo credit: House of Startups