Sonia Franck Steps Down From The Luxembourg Business Angel Network

The Luxembourg Business Angel Network is looking for a new director. Ten months after her nomination Sonia Franck will be starting a new journey in another association in Luxembourg as their general secretary. She leaves her position vacant within the LBAN association.

The missions are numerous within the network and Sonia Franck had tackled the task in a very efficient and professional manner over the last few months.

“With regret, we announce that Sonia Franck has decided to step down as Manager of the LBAN. We want to thank her for her valuable contributions and the hard work. We wish her the very best of luck in her future endeavours”, states the LBAN’s Board of Directors.

Sonia told us a bit more about these few intense months spent at LBAN. “LBAN is the only Luxembourgish network of private investors who wish to invest in startups. Its mission is to unleash the potential of Business Angels and to do so, the tasks of this part-time job are extremely varied”, she explains.

Being the director of LBAN comes with its own challenges: coordination of a training programme, organisation of thematic lunches and afterwork events, organisation and animation of monthly pitching, administrative management of members, contact point for startups, writing of weekly newsletters, interviews and posts on social networks, preparation and participation in the board of directors, invoicing and administrative management, deal-flow management, etc.

In addition to the variety of tasks, Sonia confided she appreciated the great flexibility she was offered and the total freedom in the organisation of her work and the choices of her tools. “I learned a lot professionally through these exchanges.”

Supported by the Chamber of Commerce, LBAN is fully integrated into the innovation ecosystem and the House of Entrepreneurship. “Working at LBAN is an opportunity to meet and network with passionate and exciting entrepreneurs, in an environment where every day one learns and is inspired by the energy and optimism of all actors in the sector.”

The Business Angels invest at a crucial time in the development of startups. We even talked about “Death Valley” to define the phase in which they invest. In 2019, LBAN members invested 6.9 million in 45 companies, which represents an increase of more than 25% compared to the previous year. Given the socio-economic levels of the population and the growing interest in startups, there is still great potential for growth in this type of investment.

“Future challenges are to seek more individual members who wish to support the innovative sector, corporate members who wish to share their experiences with the Business Angels. To do so, one of the challenges is to further improve the value proposition through the tax attractiveness of these types of investments”, continues Sonia Franck. “Other challenges are those of the visibility of members’ actions and investments, maintaining accessibility and visibility within the startup ecosystem and managing interactions with the Business Angels networks in the Greater Region.”

The job offer has just been publicly shared (see the job offer HoST Project Manager & LBAN Manager). A unique aspect of this position is that the House of Startups is also looking for a project manager to develop the EU-Tribe project in particular. Promoting Luxembourg’s startup ecosystem abroad will therefore be at the heart of the mission of the newly elected representative. Do you feel up to the challenge?

Photo: Sonia Franck, ex-director of LBAN

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