How Luxinnovation is accelerating Luxembourg's economy: 2024 outcomes
Romain Tordo, Unsplash
In 2024, Luxinnovation, the national innovation support agency, assisted 891 companies, strengthening the innovation and digital transformation of all sectors of Luxembourg's economy. In a year marked by climate change, geopolitical instability and the explosion of technology, the agency has become a key partner for businesses seeking to adapt and grow.
According to Lex Delles, Minister of Economy, SMEs, Energy and Tourism, innovation is "key to competitiveness and responding to global challenges" and Luxinnovation's role is to help companies master cutting-edge technologies in strategic areas such as Industry 4.0, defence, healthtech, cybersecurity and AI.
As of 1 March 2025, Mario Grotz officially took over as CEO of the agency, emphasising the importance of working with SMEs and structuring services around three axes: assessing potential, liaising with partners and seeking funding.
As part of the Fit 4 Sustainability and Fit 4 Digital programmes, 67 companies received personalised development plans. Through the Luxembourg Digital Innovation Hub (L-DIH), a further 32 manufacturing companies have been assessed for digital maturity.
The startup trend continues to grow: in 2024, 48 new startups were created and another 20 went through the 14th cycle of the Fit 4 Start accelerator. The 15th intake received more than 400 applications from around the world. Luxinnovation also launched a pilot programme to support scale-up companies focused on growth and expansion.
The agency has become a link between entrepreneurs, research structures and international investors. In 2024, more than 520 targeted contacts were initiated in areas such as agribusiness, cleantech, automotive, defence, healthtech, woodworking and creative industries.
At the funding level, Luxinnovation facilitated 124 national applications for R&D projects, 68% more than in 2023. 37 applications were for eco-innovation. At EU level, 137 applications for European funding were submitted through the agency, including through Horizon Europe, where Luxembourg participants raised €47.4 million. The European Defence Fund (FED) supported 10 projects with Luxembourg participants.
Luxinnovation's second key mission is to address "weak links" in the innovation ecosystem. In 2024, the agency produced 17 analyses and 4 market trend reports, launched a team to manage ecosystem projects and coordinated Luxembourg's application for an AI Factory, which will provide startups with access to AI infrastructure.
To strengthen connections between startups and investors, Luxinnovation organised the second Luxembourg Venture Days, which brought together 200 startups, 200 investors and 2,000 participants. The agency also provided 56 soft landings and facilitated the incorporation of 17 international companies in Luxembourg.
As part of the Klimapakt fir Betriber initiative, together with Klima-Agence, the agency helped businesses reduce energy consumption and costs. Luxinnovation was also involved in two cross-border EU projects - Greater Green+ (assessing and developing the circular economy) and W.A.V.E (using wood in sustainable construction).
