Luxembourg’s startup ecosystem is in activation phase

Luxembourg’s startup ecosystem ascended to 34th place in the 2023 Global Startup Ecosystem Index. The impressive jump of six spots in one year saw Luxembourg cement its place as 16th in Europe, overtaking Poland, Czechia, Bulgaria, and Romania.

Thriving economy 

Luxembourg is one of Europe’s most robust economies with a global financial legacy –  impressively, it’s just one of eleven countries worldwide to hold an AAA rating.

Although small in size (Luxembourg is one of the smallest countries in the world), it is home to Europe’s most powerful investment management centre, making it an attractive location for investors. 

According to the Association of the Luxembourg Fund Industry, Luxembourg is the largest fund domicile in Europe and a worldwide leader in the cross-border distribution of funds with a large focus on sustainable investing. 

Multicultural metropolis 

Geographically bordered by France and Germany, two of the EU’s main markets, this diminutive nation sits centrally at the crossroads of the European free market which is undoubtedly a draw for major corporations–Amazon and PayPal who have chosen Luxembourg as their European headquarters. 

Home to a buzzing community of over 170 nationalities, it has cultivated a multilingual and diverse population and it’s estimated Luxumberg’s workforce is made up of over 70% ex-pats. 

The country has also gained a reputation as a talent magnet for those looking for opportunities too.

The 2022 Global Talent Competitiveness Index saw Luxembourg secure 11th in the world. A total of 133 countries were assessed in the index, making it one of the top performers globally. 

Attracting and retaining foreign talent is a key area of recruitment for the nation as its startup ecosystem is buoyed by foreign nationals. Patrick Kersten, president of the Luxembourg Startups Association, an initiative aiming to boost Luxembourg’s startup ecosystem, said: “86% of companies are being created by foreigners.’’

Startup support

The Grand Duchy is also an attractive choice for startups, not surprising given there are, on average, 800 startups per one million people. The government has accelerated this by backing several incentives to lure talent from across Europe. Notable incubators include The Fit 4 Star Programme, which provides €150,000 in equity-free funding to launch and scale ventures on the European market. 

At Startup Luxembourg, over 15 incubators are offering financial backing for startups at various stages of their journeys. The public initiative is supported by the Ministry of the Economy and currently houses over 500 startups in FinTech, Health Tech, Clean Tech, and Inu Tech. They aim to foster innovation and support entrepreneurs. 

Future of space tech 

Luxembourg has emerged as an important player in the space tech sector through an established vision to advance its space tech industry. 

Significantly, it was the first country in Europe to introduce a legal framework for the space industry. The Luxembourg Space Agency (LSA) was established in 2018 to promote the commercial space sector and its activities. 

Meanwhile, the University of Luxembourg has been offering its two-year Interdisciplinary Space Master programme. The course is engineered to develop the specific skills needed to pioneer a new and sustainable space industry in Luxembourg.

So, if you’re thinking about your next career move or looking to explore your options, we’ve rounded up three exciting roles on the Silicon Canals Job Board, all bordering Luxembourg. 

Software Developer Aerospace, Alten Europe, Munich, Germany.

Alten, one of the world’s leading engineering service providers, is looking for an ambitious Software Developer to join its aerospace division. Do you have a university degree in aerospace technology? If so, you could be responsible for programming safety-critical and real-time control systems for the aerospace industry within Alten. Two years’ of experience in programming languages such as C/C++ and fluency in German and English are essential. You’ll discover more details on this position here.

Software Engineer (Risk), Billie, Berlin, Germany.

Billie, the leading provider of Buy Now, Pay Later (BNPL) payment methods for businesses is on the hunt for an experienced Staff Software Engineer to head up the risk domain team at Billie. You will be responsible for driving technical excellence in its risk segment, including the assessment of risk factors such as identification, credit risk, and fraud risk. 

Billie is searching for someone with at least 15 years’ of experience in software engineering with strong experience with Kotlin or Java and Spring. If this sounds like a fit for you, you can read on about this exciting role here.

Senior Software Engineer, Ledger Connectivity, Paris, France.

Ledger is the global platform for digital assets and Web3 (over 20 % of the world’s crypto assets are secured through their Ledger Nanos). It is seeking an experienced Senior Software Engineer with expertise in the JavaScript and Web3 ecosystems to solve complex and challenging problems. This is a crucial role within the business in making Ledger a key contributor to driving the global digital assets and cryptocurrency ecosystems. 

Expertise and proficiency in the JavaScript ecosystem and a passion for Web3 is vital.

For more information on this fast-paced opportunity you can read the full job description here.

For more career inspiration or to find your next role, explore the Silicon Canals Job Board today