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Luxembourg-City Incubator Celebrated Its First Anniversary

The incubator’s generalist approach, mainly dedicated to urban planning, trade, tourism, environment, logistics, construction and housing sectors, supports the economic, environmental and mobility initiatives of its two key partners (Chamber of Commerce and the City of Luxembourg).

Photo: Luxembourg-City Incubator / Credits © LCI

For Martin Guérin, CEO of Luxembourg-City Incubator, this anniversary marks the opportunity to review recent achievements and understand upcoming trends: “This was a year rich in lessons learned and partnerships developed. Innovation is not improvised but the result of collaboration, assiduous coaching, and relentless networking.”

Today, the incubator hosts 42 startups representing 112 jobs, 74 of which were created this year. Supporting these startups makes up nearly 400 coaching hours, 160 networking sessions and 220 contacts and applications. The incubator has promoted its startups in more than 200 varied publications, nine competitions and ten international events. For most young companies, several factors come into play when deciding to join LCI: the quality of service prevents them from worrying about logistical contingencies plus the location is in the heart of the capital which makes it incredibly convenient for customer meetings. Personalized support, access to the network and fundraising assistance make up the top three sources of satisfaction for hosted startups.

“Being part of the incubator has significantly increased our visibility, positioned us to participate in various competitions and connected us with new customers.”

As a member of the House of Startups and the Chamber of Commerce Group, Luxembourg-City Incubator relies on a wide range of services, training, events and networks, which contributes to supporting the development of young startups. The City of Luxembourg has also played an active role in analyzing projects likely to promote its innovation strategy.

“In a few months, I have participated in more than 15 professional events, met more than 100 people in my field and developed multidisciplinary knowledge related to my business project,” Caroline Assaf of the startup CoCoWorld.

Agnella Serafin and Mathias Keune from Zenview confirm: “Being part of the incubator has significantly increased our visibility, positioned us to participate in various competitions and connected us with new customers.” Julie Simier of RocketMail and François Scherer of Firis underline: “What gives real value is the business development support provided by the incubator.”

The success stories of the startups speak for themselves. LCI startups have raised a total of €11 million in combined public and private funds. One of the startups made a buyback valued at five times its initial capital. They have also participated in projects that have led to sectoral partnerships and competitions – including Fit 4 Start.

LCI’s two partners, the Chamber of Commerce and the City of Luxembourg, are proud of these developments and welcome the presence of such a dynamic incubator in this city. They are confident in the promising future of Luxembourg-City Incubator and are looking forward to deepening collaborations within the ecosystem of the Grand Duchy + its Greater Region and intensifying open innovation within local companies.

This article is brought to you by Luxembourg-City Incubator and reflects only the opinion of the author.

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