How These Startups Are Changing The World From Luxembourg

Luxembourg might be a small country but it has large ambitions. The unique startup ecosystem makes it possible for passionate entrepreneurs to not only develop their business ideas locally but also to dream big.

Photo: Small country. Passionate entrepreneurs. Worldwide impact. / Image Credits: Cedric Letsch / Unsplash 

What drives the following startups is their common desire to change the world. Lucky for us, they have decided to do it based in Luxembourg.

OKO: crop insurance that improves the life of African farmers

OKO, a Fintech founded in 2018 by Simon Schwall and Shehzad Lokhandwalla seduced the Fit4Start jury in 2019 with their impactful mission: offering an affordable crop insurance to farmers in emerging markets to protect them against climate change risks and bad harvests. These insurances help farmers secure their only source of revenue in bad years.

By partnering locally with major players such as Orange, OKO makes it easier for farmers living in the countryside with poor internet connection to manage their insurance protection from afar. Their solution, which also works offline has already proven a success to hundreds of farmers in Mali and Uganda.

Food4All: fighting food waste beyond the borders

Food4All (F4A), a startup founded in 2017, was born from two observations: it is hard for students and other, financially struggling demographics to buy healthy food at an affordable price. Yet lots of food is wasted by consumers and supermarkets.

These two aspects together made Food4All come up with an idea that could solve both problems in one go: by partnering first with supermarkets based in Luxembourg and developing an app for their clients, people can locate food products that are nearing their expiration dates that supermarkets will offer at reduced prices.

As a result, the consumer can make a good deal and buy quality food with the satisfaction of making a positive impact for the planet while the supermarkets reduce their waste and money loss. It’s a win-win situation. Food4All is not afraid to dream big and wants to continue making an impact on the world. They are already working on extending their solution outside of the borders of Luxembourg, starting with Belgium.

StarTalers: empowering women through financial education

Founded in 2018 by Gaëlle Haag and Thierry Smet, StarTalers encourages women to take ownership of their financial future and to achieve their goals. The startup wants to make a positive impact on women’s confidence in their financial literacy which has historically been lower than that of men’s.

To empower them and raise awareness, Gaëlle organizes educational workshops on a regular basis with the aim to fill that gap in a very friendly and welcoming manner. It is the perfect opportunity to learn about existing financial tools and investment options. Investment that before sounded complex becomes suddenly becomes accessible.

But that is not all. They want to have a global impact. By launching their investment app, which focuses on sustainable investment and green finance, they have found another way to change the world!

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