Luxembourg launches its first health tech startup and spinoff accelerator. Located in Belval’s House of BioHealth, the site – 350sqm of lab space – will host up to 10 companies from next Spring on.
Luxembourg launches its first bio incubator. Housed in the House of BioHealth, the centre dedicated to health technology will welcome eight to ten startups and spin-offs next spring, during their first years of operation.
850,000 euros have been invested in the project, which has some 350 m2 of laboratory space.
“The health technology sector is a pillar of our economic diversification strategy,” explained Franz Fayot, Minister of Economic Affairs. “The provision of suitable infrastructure for the accommodation of companies in the health technology sector is an asset in terms of attractiveness and sustainability for the national economic ecosystem.”
In addition to the provision of laboratory space, start-ups will benefit from professional support – directed specifically for HealthTech – for their business development.
With the integration of the bio incubator, the House of Biohealth is growing organically. Inaugurated in January 2015, the complex dedicated to healthcare technologies is expected to acquire an additional 5,000 m2 in 2021, to cover nearly 17,000 m2 of laboratory, office, and conference space.
Around 600 researchers specializing in the fields of biotechnology, clean technologies, and ICT will be able to work there.
Public-Private collaboration
The House of Biohealth is a collaboration between the Ministry of the Economy, private investors, and the Syndicat intercommunal d’Ehlerange (ZARE). It currently houses nine SMEs and VSEs, and two public research laboratories: the Luxembourg Institute of Health (LIH) and the Luxembourg Centre for Systems Biomedicine (LSCB).
The site employs 450 people specialized in diagnostics, medical devices, and digital health. The Ministry of Economy supports this public-private partnership program through a rental guarantee.
During the announcement of the bio incubator, Franz Fayot also visited Fast Track Diagnostics, a company developing molecular diagnostic (PCR) kits used in large-scale testing in Luxembourg.
Started in 2017 by Siemens Healthineers, the company employs 127 people. As part of the aid package to combat COVID-19, it received financial support from the Ministry of the Economy for a new version of its diagnostic kit.
