Japanese IT company Space Shift comes to Luxembourg
Space Shift creates software that collects and decodes data from satellite images of the Earth. For this, employees of the company use the so-called artificial intelligence.
Space Shift constantly monitors changes across the Earth. No person would be able to do this: too much changes on the planet even in a day. The program sees what is happening in agriculture, real estate and the environment around the world at the same time. This helps, for example, to assess the damage from natural disasters. Or to figure out which vegetables need to be marketed more because more than the usual yield has grown.
The company has two branches in Japan and one in the US. Now a branch will open in Luxembourg. Here, the company plans to do what it does elsewhere: sell its software to commercial companies that need it. For example, such data is of interest to insurers and investors.
Why the Grand Duchy? CEO Naruo Kanemoto explains that Space Shift is interested in the European market, since only European companies can cooperate with the European Space Agency. And Luxembourg is located in the center of Europe, maintains neutrality with its neighbors and easily attracts foreigners into its job market. In addition, Space Shift intends to intensify its R&D, and it’s easier to do in Luxembourg: the process here is well established.
For their part, Luxembourgers also wanted this promising company to open a branch in the country. Space Shift even counted on the support of the Luxembourg government. But the decision was made even before any support was announced: the Technoport business incubator offered the company a partnership. Through it, Space Shift intends to bring new prospects, taxes and jobs to the country.
