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Travel Technology startup Travelsify closes a seed funding round and gets the support from the Luxembourg Ministry of the Economy to power next-generation hotel search and personalization. LUXEMBOURG, March 28, 2017 - Travelsify, the world’s first Hotel DNA content platform, today announced it has raised €2 million in seed funding led by Luxembourg-based business angels, and with the support of the Luxembourg Ministry of the Economy. The investment will allow the company to accelerate the development of its highly qualitative Hotel DNA content platform already covering about 300,000 hotels worldwide, expand its team of experts in Luxembourg and foster its global growth through new clients in Europe and overseas. Founded in Spring 2016, the privately held company is based in Luxembourg, and is led by 3 seasoned technology, big data and personalization entrepreneurs: Bruno Chauvat, Alexandra Fernandez Ramos and Dr Alexander Weber. Travelsify now employs 15 people in Luxembourg from 7 different countries, including several PhD graduates and linguistic experts. In less than one year, Travelsify gained the trust of AccorHotels, a world-leading travel and lifestyle group, to inspire, search and personalize according to local and cultural experiences thanks to its geo-targeted Travelsify Hotel DNA™. Last November, the Travel Tech company has been selected as “Market Changing Innovator” by Phocuswright, the global travel industry research authority, and has been invited to showcase at the Travel Innovation Summit in Los Angeles, California, USA. Since its inception, the company has been supported by nyuko - the startup accelerator, Luxinnovation - the national agency for innovation and research, and the Ministry of the Economy in Luxembourg. Bruno Chauvat - CEO at Travelsify “We are incredibly proud to have achieved so much in such a short time. This substantial first funding round not only validates Travelsify’s competitive edge in the travel technology industry but also backs up our global growth strategy. We are happy and grateful for the support we received and keep on receiving from Luxembourg sophisticated investors.” “Luxinnovation is thrilled to support Travelsify as innovative and technology-driven startup, especially in its early stage of development”, said Antoine Hron, Head of Start-up Development at Luxinnovation. “Having a Luxembourg-based startup launching global activities is an asset for the country and its startup ecosystem.” “At nyuko we believe successful disruptive ideas are led by great teams of entrepreneurs. We are delighted to count Travelsify and its highly complementary and experienced founding team amongst the startups we helped in seed funding”, said Martin Guérin, Chief Executive Officer at nyuko. Upcoming events  On March 29, 2017, Travelsify is invited to showcase at ARDA World (American Resort Development Association) in New Orleans, Louisiana, USA  On April 4, 2017, Travelsify will be on stage at Skift Forum Europe in London, United Kingdom, to discuss about The Two Sides of Personalization (Consumer vs Product)  
DBRS Ratings Limited (DBRS) has confirmed the Grand Duchy of Luxembourg’s long-term foreign and local currency issuer ratings at AAA and its short-term foreign and local currency issuer ratings at R-1 (high). The trend on all ratings remains Stable. The rating reflects Luxembourg’s sound public finances, its solid institutions and political environment, its wealthy and advanced economy, and its strong external position. These credit strengths counterbalance the challenges associated with the country’s relatively limited degree of economic diversification, its vulnerability to external shocks, and potential changes in tax frameworks that could adversely impact the tax revenue base. The Stable trend reflects the strong fundamentals of Luxembourg’s economy and DBRS’s assessment that the challenges Luxembourg faces are manageable. Despite risks of financial market volatility, the economy is expected to continue to grow at a strong pace. Although the tax reform is set to reduce the fiscal space, Luxembourg’s public finances are expected to remain sound, with fiscal balances and low government debt supported by a robust fiscal framework. The ratings for Luxembourg are supported by its sound public finances. The general government surplus has averaged 1.3% of GDP over the past ten years, and is estimated at 1.6% in 2016. The tax reform, in effect from the beginning of 2017 and aimed at easing the tax burden on households and firms, is set to affect the fiscal position. Nevertheless, a balanced budget is still expected to be maintained and the structural balance is projected to remain positive. Luxembourg also exhibits one of the lowest government debt levels in Europe. The gross debt ratio is estimated at 21.0% of GDP in 2016, well below both the Maastricht reference ratio of 60% and the government’s medium-term ceiling of 30%. Read more 
On the occasion of the celebration of the 60th anniversary of the Rome Treaty, the European Commission organised “Digital Day”. This was a high-level meeting on 23 March, 2017, in the Italian capital confirming the ambition to position the EU amongst the top global rankings in the field of High Performance Computing (HPC) and establishing a transnational framework for connected driving tests. Luxembourg’s Deputy Prime Minister and Minister of the Economy, Etienne Schneider, signed the European HPC cooperation declaration on behalf of Luxembourg. The EuroHPC declaration signatory ceremony marked the official starting point for the collaboration between the signatory states (Luxembourg, Italy, Spain, France, Germany, Portugal and the Netherlands) for the strategic set-up of a European HPC network initiated by Luxembourg. The HPC project is of strategic interest for the implementation of the Europe 2020 strategy. It will ultimately provide the computing capabilities needed to ensure the EU's competitiveness as a digital economy. During the signatory ceremony, Minister Schneider declared: “Setting up an independent European digital industry and our own value chain around data, software and hardware is indispensable. It is one of the key objectives of the Important Project of Common European Interest on HPC that Luxembourg is involved in alongside other Member States and that we want to push forward together.” In parallel, Minister Etienne Schneider signed a letter of intent to formalise the collaboration of several Member States – including Luxembourg – in the field of smart mobility, in particular regarding the development of connected and autonomous vehicles. Luxembourg’s objective is to participate in this way in the European strategy for the mobility of tomorrow. The topic of industry 4.0 was also at the centre of the discussions during “Digital Day” in Rome aiming to highlight the digital future of Europe. FEDIL participated actively in these debates and strives, together with the Ministry of the Economy, to position the Luxembourg industry as a sector of activity at the cutting edge of new technology and digitalisation. The Director of FEDIL, René Winkin, commented: “All the initiatives that Etienne Schneider has just supported in the context of ‘Digital Day’ in Rome are of great importance to our federation and its members. We are delighted that we, in close collaboration with the Ministry of the Economy, have managed to promote the digitalisation of the Luxembourg industry by putting in place the national platform ‘Digital4Industry’. This platform allows us to participate at the official launch of its European counterpart ‘European Industry 4.0’ which will promote joint investments as well as cross-border and inter-sector cooperation.” Photo: © MECO

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Luxembourg, your European e-business platform
Luxembourg, your European e-business platform
Luxembourg, your European e-business platform
Luxembourg, your European e-business platform
Luxembourg, your European e-business platform
FOCUS magazine 1 - Automotive components made in Luxembourg
FOCUS magazine 10 - Future manufacturing technologies
FOCUS magazine 11 - Surfing the Digital Waves
FOCUS magazine 2 - A thriving space industry
FOCUS magazine 3 - Environmental innovators hit the spotlight
FOCUS magazine 4 - High hopes for health
FOCUS magazine 5 - Leading the way in ICT security
FOCUS magazine 6 - Making materials smarter
FOCUS magazine 7 – A home for growth
FOCUS magazine 8 - A green Heart for Logistics
FOCUS magazine 9 - Space: Expanding the frontiers of innovation
Logistics Hub Luxembourg, Putting Europe at your fingertips
Logistics Hub Luxembourg, Putting Europe at your fingertips
Logistics Hub Luxembourg, Putting Europe at your fingertips
Logistics Hub Luxembourg, Putting Europe at your fingertips
Logistics Hub Luxembourg, Putting Europe at your fingertips
Luxembourg, a pioneer in space
Luxembourg, a pioneer in space
Luxembourg, your automotive business partner
Luxembourg, your automotive business partner
Luxembourg, your automotive business partner
SurprisingLux
SurprisingLux
SurprisingLux
SurprisingLux
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