search

How does the Luxembourg start-up ecosystem compare to that of Israel?

Yael Idan: “Israel and Luxembourg are small countries with strong impact where business networking is very important. People are happy to help each other and provide friendly introductions to key contacts. After decades of development, the Israeli start-up ecosystem is obviously more mature than the one in Luxembourg, but the Luxembourg start-up community has been experiencing considerable growth over the last couple of years that has been very impressive to watch. I’m proud of being part of the efforts to develop it further.”

Why is Luxembourg an attractive destination for Israeli start-ups that want to expand abroad?

Yael Idan, LTIO Tel Aviv, speaks about the start-up ecosystems in Israel and Luxembourg“Innovative start-ups need to expand globally from very early on. Even though the ecosystem in Israel is very dense and developed, Israeli start-ups target the international market almost from day one. In order to go international, they need a base in Europe. This is where Luxembourg comes in. After hearing about what Luxembourg has to offer and meeting the people, many start-ups here are pleasantly surprised.”

What business sectors in Luxembourg are most interesting?

“Fintech and cybersecurity, where Israel is a front runner, are the obvious ones. Luxembourg is of course renowned for its financial industry. Space is another one where Luxembourg is well known. Israeli start-ups in this field naturally contact us at LTIO Tel Aviv as they know that Luxembourg is the EU capital in space.

Luxembourg is of course renowned for its financial industry. Space is another one where Luxembourg is well known.

Other topics that we have been promoting in Israel over the past three years include smart mobility, smart cities and industry. They are all linked to technologies such as industry 4.0, supply chain management, artificial intelligence, sensors, connectivity and so on – fields in which Luxembourg’s strengths are becoming increasingly well known in Israel. We have seen some good results thanks to the great work and joint efforts done with our colleagues at the Luxembourg Ministry of the Economy and Luxinnovation, the national innovation agency.”

Are there any support measures in Luxembourg that are particularly interesting for international start-ups?

“There are plenty of interesting opportunities. Israeli start-ups often ask us for advice and information concerning grants and funding opportunities, but looking for business and networking opportunities that can help them expand and grow is equally important. As an LTIO, we do our best to point each start-up in the right direction depending on their needs.

Israeli start-ups often ask us for advice and information concerning grants and funding opportunities, but looking for business and networking opportunities that can help them expand and grow is equally important.

Over the past few years, Israeli companies have participated in various programmes in Luxembourg such as the Fit 4 Start acceleration programme, the fintech accelerator Catapult: Kickstarter and the incubation programmes of Technoport. Venture capital funds such as the Digital Tech Fund are also very appealing for international start-ups.”

What initiatives in Israel do you find useful to boost the synergies with Luxembourg?

“Over the past few years, we have clearly seen the growing added value and power of Israeli business communities in the start-up sphere and how they can drive ecosystems forward. New business communities are born with financial and operational backing from the government and non-profit organisations.

One good example is the EcoMotion Community, which has placed Israel’s smart mobility sector on the international scene in just a couple of years. An even younger baby is the PLANETech Community that saw the light of day last year, and which I believe has good potential to contribute to Luxembourg’s objectives in the field of climate tech. In addition, we work with the Luxembourg House of Financial Technology (LHoFT) to develop synergies with the Israeli fintech community.”

If an Israeli entrepreneur would ask you for a good reason to come to Luxembourg, what would you say?

“An Israeli person living in Luxembourg once told me that he never felt like a foreigner, and I think this sums up the atmosphere well. The vibes are very welcoming, there are lots of cultures and everybody speaks English. Luxembourg is the best choice in Europe – living in such an international and open environment is a great experience not only for business, but also for life. Frankly speaking, I wish I would have the opportunity to do it myself.”

Luxembourg is the best choice in Europe – living in such an international and open environment is a great experience not only for business, but also for life.

Read more

Webasto invests in new production line in Luxembourg

26-05-2023

Automotive supplier Webasto has been present in Luxembourg since summer 2022 and is turning the facility here into its global centre of competence for smart glazing. The company is now investing in a new Luxembourg-based production line for high-tech glass. The ground-breaking ceremony was held on 24 May 2023.
Read more

House of Sustainability opens in Luxembourg

23-05-2023

The House of Sustainability, which officially launched on 21 April 2023 as a one-stop shop for all sustainable development solutions in Luxembourg, offers and guides companies toward an all-inclusive service offering available in Luxembourg to support their sustainable transition. Companies of all sizes and from all sectors can benefit from a vast ecosystem of sustainable solution providers based in Luxembourg.
Read more

Two Luxembourg start-ups supported by WomenTechEU

15-05-2023

In the framework of the WomenTechEU programme dedicated to innovative deep-tech projects led by women, two Luxembourg companies, supported by Luxinnovation, have received European financial aid.
Read more

Luxembourg: Exceptionally open to business

15-05-2023

In April 2023, Adrian Trömel, Luxembourg’s Foreign Trade Advisor in Texas, co-organised a visit to Luxembourg for a group of Houston-based venture capital, private equity and real estate firms to explore how the Grand Duchy could help them reach the European market. The similar economic interests, including Luxembourg’s openness to business, services and resources for funds and companies looking to grow left a lasting impression on the delegation.
Read more

Innovative companies in Luxembourg are supported by “a strong network”

10-05-2023

Maxime Delmée, Belgian CEO and co-founder of AM 4 AM, a startup specialised in the development of new materials for additive manufacturing and a graduate of the Fit 4 Start acceleration programme in Luxembourg, discusses his entrepreneurial experience in Luxembourg. He explains that Luxembourg’s openness to innovation and its support for startups was crucial to his company’s development.
Read more

Resources all news

Fermer