Luxembourg: Big on Innovation, Strong in Key Sectors

Luxembourg is booming thanks to the country’s key sectors which are attracting startups, talent, and innovators from around the world.

You may not know it, but Luxembourg is big – big on innovation. It’s where the government, research institutes, and companies are hard at work making the country one of the most creative and dynamic on the continent. The 2021 European Innovation Scoreboard ranks Luxembourg as one of the strongest innovators thanks to its attractive research system, human capital, and intellectual assets.

Once known for steel production and later finance, the country’s big transition started in the 1990s when leaders decided to invest heavily in public research in order to diversity and transition to a more knowledge-based economy. The efforts have paid off, visible by the sheer number of startups, which today stands at more than 500 – in a country of only around 600,000 inhabitants.

Why has Luxembourg become such an attractive place for startups? For one, it has a decidedly pro-business attitude, a triple-A rating, and it is among the most open countries in the world, with half its population coming from abroad. Add in minimal and efficient bureaucracy, accessible decision makers, and the proximity of investors, and you begin to understand.

The innovation boom has certainly been buoyed by the government, which focuses heavily on boosting Luxembourg’s key sectors, many of them high-tech. These include ICT, cleantech, life sciences, medicine, engineering, and now space. The next exciting phase is to transform itself into a totally sustainable, knowledge-driven, and fully trusted digital society – all by 2030.

The key high-tech sectors, along with those in which Luxembourg has long been a leader – such as finance, logistics, and manufacturing – provide a very attractive backdrop for congresses for associations from those sectors. And because Luxembourg is a compact and interconnected country, experts, decision makers, and key figures are often literally just a handshake away. It is easy to get in touch with the right people to make a congress highly impactful.

Want to join the innovation vibe? Contact Business Events Luxembourg. Their experienced, professional team is eager to help you organise an event, and they will put you in contact with experts and leaders from any of the country’s key sectors to ensure your event makes an impact. Visit Business Events Luxembourg to get started.