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- Why Luxembourg >
A knowledge-based innovation economy
Bringing ideas to life.
Rated as a top banking destination and a strong knowledge hub, Luxembourg is today rated as one of the best destinations when it comes to investing. Successive governments have effectively attracted new investment in medium, light, and high-tech industry. US firms are among the most prominent foreign investors, producing tyres (Goodyear), chemicals (DuPont), glass (Guardian Industries), and a wide range of industrial equipment. The current value of US direct investment is almost $5.3 billion.
These examples show to what extent Luxembourg is a specialist in adding value. Substantial effort is put into fostering new sophisticated niches by encouraging research and development, not just in products and new technology, but also information processes and design. This takes the form of direct support to business on one hand, but also the creation of a focused, publicly-funded research environment on the other hand.
Direct support to business:
- R&D expenses that do not generate sales are tax deductible.
- Financial support for specific projects can be granted to small and medium sized businesses, companies located in designated development zones, firms active in R&D, as well as for environmental protection.
- Government capital grants and loans from the National Credit and Investment Corporation (SNCI) are available at favourable rates.
- Small and medium sized businesses facilities on advantageous terms, such as the 8,000 square metres at the Ecostart business innovation centres.
Indirect support to business by the creation of a publicly-funded research environment:
- At the heart of this effort are the University of Luxembourg as well as the public research centres “Gabriel Lippmann”, “Henri Tudor” and “Health”. Funding for these bodies has risen substantially year-on-year. Business lobbies help guide this work.
- Luxinnovation, the country´s innovation promoting agency, is supported by the government and business to offer guidance and networking opportunities for those looking to put their ideas into practice.
Luxinnovation
National Agency for Innovation & Research
7, rue Alcide de Gasperi
L-1615 Luxembourg
Tel: +352 43 6263-1
Fax: +352 43 81 20
Incubators
Ecostart Enterprise and Innovation Centre
Ministry of the Economy and Foreign Trade
19-21, boulevard Royal
L-2449 Luxembourg
Tel: +352 247-84185
Fax: +352 26 20 27 68
