Luxinnovation, the national agency for innovation and research in Luxembourg, has published its 2016 annual report. At the presentation, a positive assessment of the current initiatives and programmes was made and an expansion of the structures in order to fulfill their new missions was announced: prospection, marketing, communication and promotion. Within this context, the Secretary of State of the Economy Francine Closener put forward the upcoming activation of a new aid system which will make 200 million euros available to be invested in the fields of research and development and innovation in companies until 2020.
Luxinnovation was founded in order to promote innovation and growth, by supporting companies in Luxembourg, regardless of their activities or size. From ICT Start-ups to multinational companies - Luxinnovation delivers the right solution for any innovative idea that it is confronted with.
Find the financial support programme that fits your needs
In 2016, Luxinnovation accepted 91 applications from 73 companies for support in Research, development and innovation (RDI). A total of 6 public-private partnerships were agreed upon, 3 of them with the Luxembourg Institute of Science and Technology (LIST) and 3 with the University of Luxembourg.
15 new SME's have participated in the programme to improve competitivity named Fit4Innovation. This 2 step programme offers the participating SME's a complete diagnostic of the company and its activities, as well as support on implementing the recommendations made on the basis of the diagnostic. The programme's success can be illustrated by numbers: 2.01 million euros have been invested in the programme since 2013, with average return of 500% for the participating companies.
The programme Fit4Start supported 10 ongoing start-ups. The Fit4Start programme supports start-ups in their initial phase by offering them financing and coaching adapted to the needs of early-stage enterprises created less than 12 months ago and composed of at least two people. These companies have benefited of 16 weeks of intensive coaching and a financial aid of 50.000€.
Supported by the Ministry of the Economy and its public and private partners in Luxembourg, Luxinnovation has all the reasons to be optimistic.
(Article produced by the editorial team of the portal at 'www.luxembourg.lu'.)