The startup wave has hit all sectors of the economy and the new technologies being utilized are washing away the certainties and traditions of many industries.
In this issue of Luxembourg’s most talked about startup magazine, we have chosen to focus on three fields in particular: finance, insurance and energy – especially in the area of clean technologies. Having long been viewed as conservative industries, they are now being transformed by innovation. And their activities affect us all closely, very closely. Our smartphones are becoming our electronic wallets. Our cars are learning how to drive for us. Local car-sharing programs are reducing CO2 emissions. We do not always realize it, but we are all the guinea pigs as new technology revolutionizes these sectors. So, enjoy it. Invent, test, fail, invest, share your opinion—contribute to the democratization of these new products and services that are fast becoming part of our lifestyles.
How is it possible that the penetration rate of mobile payments – about 10% – is so low in Luxembourg? In Denmark, two thirds of the population now pays directly for purchases with smartphones or other mobile solutions. And let’s talk about cars for a moment. Luxembourg ranks very high on the European podium in terms of the number of cars per household. Put your seatbelt on: Luxembourg has almost one car per capita. Considering that the computer from Google’s self-driving car was recently recognized as a separate driver by U.S. vehicle safety regulators, we are certainly also on the cusp of a major revolution in this field. Logically, in this context, mobility is a significant issue for companies nationwide. And travel, across the country or across borders, could be greatly optimized if effective solutions for carpooling or new means of transport existed. Most importantly, beyond saving us time, innovations in transportation can reduce the environmental impact caused by accumulation of cars on the road. Today, we have trouble breathing on the route between Nancy and Luxembourg!
Think you can make an impact when it comes to our mobility, atmosphere, safety or other area of concern? Go ahead, get started. Innovate. Create a startup in Luxembourg! In search of a welcoming place for entrepreneurship and innovation, more and more eyes are turning to the Grand Duchy. There are incubation solutions, training, support and financing now available, and the resources are growing.
In this issue of Silicon Mag we could have also talked about innovations in RegTech, EdTech, FoodTech, BioTech or MedTech. Nearly every industry is going to be transformed by the newest technologies. Along with impacting the economy, our lifestyles will be forever changed.