On 20 April 2016, Exxus, Ines Media and MindForest, three companies based in Luxembourg and incorporated as an economic interest grouping (EIG), officially unveiled InnoHub, a new private platform for hosting and supporting start-ups.
The platform, which was launched in 2015, already supports 21 start-ups from some ten countries, including neighbouring European countries, but also from the United States, Singapore and Israel, all of which have chosen to set up shop in the Grand-Duchy in order to facilitate their internationalization. “In less than a year, InnoHub has already raised 9 million euros from many national and international investors such as the Foster Institut in Frankfurt. Our start-ups have created 30 jobs and 6 innovation projects have already been launched, ” says Daniel Eischen, chairman of InnoHub.
These figures, which Francine Closener, Luxembourg’s secretary of State for the Economy, says are “promising”, appear to vindicate the model of InnoHub, which fits in with the digital strategy of the government:
“Private players, which take part, using their skills and enterprising spirit, in the collective effort for the creation of new companies, complement the work of our public players which are active in the fields of economics, research and innovation. Together, these players form a dynamic ecosystem… A pillar of the start-up nation Luxembourg is in the process of emerging.”
The aim of InnoHub is to draw foreign, mature start-ups (which have gone through their first round of financing) and to assist them with their international expansion from Luxembourg.
The start-ups assisted by InnoHub have access to a network of privileged partners including financial, legal and technology experts; they also have access to the services of recognized public sector players.
