1. INNOVATIVE START-UPS: STIMULATING IDEAS AND CREATION Stimulating the creation of innovative enterprises and encouraging entrepreneurs to develop their ideas is one of the main missions of Luxinnovation. Pre-incorporation
Incorporation Support in the administrative creation of a company (in partnership with the Chamber of Commerce and the Chambre des Métiers) Assistance with incubation opportunities (Technoport, lux future lab, etc.)
Advice on implementing new activities in Luxembourg Support during the transition from an idea to a commercial project Assistance in creating a business plan (in collaboration with 1, 2, 3 GO)
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7 April 2014: Luxembourg Start-up Networking Event Throughout the year, Luxinnovation offers customised support to innovative start-ups in order to support them in their administrative procedures as well as in the drafting of a business plan, the search for funding and partners and the definition of a high value offer. The “Start-up Networking Events“ that are organised two or three times a year draw an increasing number of participants from the startup community. In 2014, the Europäische Fachhochschule Rhein (EU-FH) carried out a study on the economic environment of Luxembourg startups at the request of the Ministry of the Economy and Luxinnovation. The study highlights clients’ satisfaction with the quality of the services offered by the Agency, which scored 5.4 on a scale of 1–6. Nearly thirty players were questioned on various topics such as civil liability, market entry, networks, benefits of the legal context, location, types of
subsidies, taxation and competition. In addition, this study revealed the entrepreneurs’ desire for easier access to banking and/or private funding. Finally, these start-ups also expressed strong needs regarding the recruitment of qualified staff. This is one of the major challenges faced by entrepreneurs. 56% of them point out that it is indeed difficult to devote time to attracting the required high-level and diverse skills, while implementing an innovative entrepreneurial strategy at the same time.
2 INNOVATIVE START-UPS S
4 Networking Moderation of the start-up community in Luxembourg through the organisation of networking events Creation and management of the Startup Luxembourg LinkedIn group
3 Post-incorporation Partner search (research organisations, manufacturers and technological partners) Support in requesting public aid from the Ministry of the Economy Assistance in accessing private financing
03 ACTIVITÉS 2014
Digital payment solution made in Luxembourg
The Leudelange-based start-up that employs 13 people found itself confronted with a host of questions around its creation. “We spent a lot of time and effort considering financing and searching for partners. In this context, it was very valuable to be able to rely on the support of the Luxinnovation teams. The people we spoke to quickly understood our issues, provided sound advice and supported us in the preparation of our public aid application, which was successful,“ explains Raoul Mulheims, CEO of Digicash. “We were introduced to high quality partners, both through our regular contacts and through our participation in the “e-payments and e-invoicing“ working group offered by the Luxembourg ICT Cluster. Luxinnovation was very helpful for both our strategic and our commercial development.“
www.digicash.lu
Based on the use of existing payment channels (SEPA credit transfers, cards, etc.), Digicash Payments offers retail banks and payment service providers a white label digital payment solution that is easy to integrate into their infrastructures. The solution is also cleverly integrated within cash systems, at point of sale or online, or in billing systems. Its objective is to provide its users with the best possible payment experience regardless of the context, for instance through a multi-technology approach (QR Code, Bluetooth, NFC). Today, after having successfully created a national mobile payment ecosystem in Luxembourg, Digicash Payments uses Luxembourg’s very competitive financial centre as a springboard to enter international markets. Digicash is an initiative by young entrepreneurs which offers high technological added value for economic players such as service providers, telecommunications and technology companies, banks, shops, etc.