ANNUAL REPORT

ANNUAL REPORTANNUAL REPORT

KEY FIGURES

07

06

21

2914

STIMULATING ENTREPRENEURSHIP AND

SME PERFORMANCE

FINANCING R&D AND INNOVATION

LUXEMBOURG CLUSTER INITIATIVE

INNOVATION IN THE SPOTLIGHT

20152015

* Bob Iger, Chairman and CEO of The Walt Disney Company

““IT IS INDEED INNOVATION THAT WILL INNOVATION THAT WILL SEPARATE THE WINNERS SEPARATE THE WINNERS FROM THE LOSERS.”FROM THE LOSERS.”

Raymond Schadeck Board Chair, Luxinnovation

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THE HEART AND SOUL OF THE COMPANY IS CREATIVITY AND INNOVATION *

When asked about Luxinnovation’s role in the country’s economic landscape, I invariably provide the same answer: we deliver economic value to the country through the creation of a strong climate for innovation that encourages businesses of all sizes to renew and revitalise themselves by embracing change. We develop new and boost existing partnerships between industry and research and technology organisations and focus our efforts on innovation that addresses national priorities.

We help existing businesses innovate and, in turn, strengthen their ability to deliver signifi cant productivity gains, position themselves on new markets with new products and services, create new jobs and develop a strong foothold outside of Luxembourg. There are many examples of excellent progress – including major strides in several fl agship projects managed by the Clusters and continued enhancement of the support offered to both start-ups and small and medium-sized enterprises. You can read more about these developments later in the report.

Our work is highly valued by many sectors of industry, research and government and would like to thank the entire team for their dedication. We will continue to work hard to earn the trust of our shareholders and business partners and I am grateful for their support and encouragement.

As our mission stands to be considerably enlarged in the near future, new challenges lie ahead. Indeed, Luxinnovation will be tasked with stepping up efforts to promote ‘Innovative Luxembourg’ abroad. Market intelligence know-how coupled with the Clusters’ profound knowledge of the relevant key sectors will form the foundation of Luxinnovation’s intensifi ed business development activities, while foreign investors can expect to enjoy the many benefi ts offered by our recently developed soft-landing programme.

As the aforementioned initiatives show, we strongly believe that, in order to embrace change and grab the unique opportunities that go with it, the status quo is not an option — neither for the businesses we serve and support nor for us.

Raymond SchadeckBoard Chair

454COMPANIES AND ORGANISATIONS

SUPPORTED

15NEW FIT FOR INNOVATION

PARTICIPANTS

€17.7MILLION OF HORIZON

2020 FUNDING OBTAINED BY LUXEMBOURG ORGANISATIONS

36 INNOVATIVE START-

UPS CREATEDWITH LUXINNOVATION

SUPPORT

€6.7MILLION OF ESA FUNDING

OBTAINED BY LUXEMBOURG ORGANISATIONS

86GOVERNMENT AID APPLICATIONS

APPROVED UNDER THE RESEARCH, DEVELOPMENT AND INNOVATION

AND THE ENVIRONMENTAL PROTECTION LAWS

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KEY FIGURES 2015

Luxinnovation offers personalised, free-of-charge support to entrepreneurs with innovative business ideas with one goal in mind: increase their start-up’s chances of success. The services offered cover the whole process from business idea to incorporation and company growth. In parallel, the Agency actively promotes entrepreneurship through various initiatives.

Finding the right partners is often key to a successful business launch. Luxinnovation therefore teamed up with Deloitte Luxembourg, the National Research Fund (FNR) and the University of Luxembourg to create the Mind & Market Luxembourg platform. This initiative aims to facilitate and speed up the transformation of innovative projects into business concepts by offering expert advice to people with ideas and helping them connect with highly relevant companies and researchers.

Luxinnovation’s start-up team, together with the Agency’s Head of ICT sector, also participated in the organisation of “Pitch your start-up” fi nanced by a private company, Docler Holding. The event allowed 17 Luxembourg start-ups to present their company to a jury composed of members of Docler Holding’s management. The winner of the pitching competition, Wondermags, a self-publishing platform that lets users create, publish and sell their own eMagazines, was offered the €50,000 prize and 6 months of support services provided by nyuko Luxembourg.

193 NEW START-UP

CLIENTS SUPPORTED

36INNOVATIVE START-UPS CREATED WITH

LUXINNOVATION SUPPORT

25OF WHICH ARE

FOREIGN START-UPS

194JOBS CREATED

BY START-UPS SINCE THEIR CREATION

IN 2013

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Another company to benefi t from Luxinnovation’s guidance and advice, Active Fragrances, was the Luxembourg winner of the Creative Business Cup 2015. The company develops essential oils that help car drivers keep alert and avoid accidents. Luxinnovation co-organised the Luxembourg edition of the Cup alongside several national partners and facilitated Active Fragrances’ participation in the international fi nal in Denmark. Luxinnovation was also one of the organisers of the “How to Start a Start-Up” lecture series.

The success of these various initiatives was amplifi ed by an active social media presence, in particular through LinkedIn group “Start-up Luxembourg” (almost 2,500 members) and Twitter account @startuplu (over 1,570 followers).

FIT FOR START ALLOWS START-UPS

TO SEE WHETHER THEY ARE ON TARGET OR NEED TO CHANGE DIRECTION – BEFORE INVESTING TOO

MUCH MONEY, TIME MUCH MONEY, TIME AND EFFORT.AND EFFORT.

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Fit for Start offers 16 weeks of coaching by “Lean-Start-Up” experts and a public grant of €50,000 to ICT start-ups in Luxembourg. Based on a concept developed by Luxinnovation, the programme aims to improve the starting conditions for ICT enterprises and to attract talented people to Luxembourg. October 2015 saw the launch of a pilot edition with three participating start-ups.

Fit for Start was developed in response to a strong need expressed by Luxinnovation’s start-up clients: fi nding adequate fi nancing at the very start of their existence. Specifi cally, the Agency recognised that there was a lack of tools that would enable promising ICT start-ups develop their product, acquire their fi rst clients and speed up their growth.

Luxinnovation decided to base the programme on “Lean Start-Up”, a methodology that helps new companies to develop products and services in a structured manner and get them out in the market faster. Fit for Start participants thus develop a “Minimum Viable Product”, identify their fi rst clients and invite them to test it. The feedback received allows them to see whether they are on target or need to change direction – before investing too much money, time and effort. They are accompanied throughout this process by specialised coaches, selected by Luxinnovation.

Fit for Start offers each participant a grant of €50,000, provided by the Ministry of the Economy, to help them achieve their objectives. The founders need to match the grant with a private contribution of €10,000. The programme also helps participants prepare for growth and further fundraising, and facilitates contacts with potential partners and investors.

Admission to Fit for Start is done through calls for applications. The best candidates are invited to pitch their project to a jury composed of experienced entrepreneurs who select the most promising ones for participation. Since October 2015, Houser, Bitbank and Sport50, all three successful entrants of the pilot edition, call the Technoport incubator their new home. From 2016, two editions of Fit for Start will be organised every year.

www.� tforstart.lu

64COMPANY VISITS

11 NEW FIT FOR INNOVATION

DIAGNOSTICS

7 NEW FIT FOR INNOVATION PROJECTS

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Innovation is sometimes seen as the prerogative of large or high-tech companies. In reality though, every company, regardless of size or activity, has the ability to create value by changing or developing more effective processes, products or ideas. One of the roles of Luxinnovation is to help small and medium-sized enterprises (SMEs) in various sectors identify how they could benefi t from innovation and provide them with the tools to get going and innovate with success.

Although often associated with product development, innovation can also be done in many other fi elds: service development, organisation, marketing and so on. The Innovation Club – a joint initiative between the Chambre des Métiers and Luxinnovation that targets company managers in the crafts sector in particular – met twice in 2015 to showcase the potential of non-technological innovation. The fi rst meeting was devoted to how to use design to restructure a company and improve its corporate image. The second focused on customer relationships and the service model of luxury hotels as a basis for a new and innovative approach to increase customer satisfaction in any sector.

A pioneer concept developed by Luxinnovation called the “Design Challenge” allowed Villeroy & Boch to use innovation and design to improve its competitiveness. The company invited artists and designers to propose innovative concepts for a new and exclusive line of decorative objects. On a similar note, Luxinnovation hosted a conference in the context of the “Design for Europe” initiative to illustrate the importance of design as a catalyst for innovation and economic growth.

In its second year of operation, Fit for Innovation was able to establish itself fi rmly in 2015 as Luxinnovation’s fl agship tool to promote and support innovation in SMEs. The framework conditions of the programme were confi rmed while the number of participants grew steadily. A call for experts published in March has so far resulted in a list of eight consultants qualifi ed to work with Fit for Innovation participants.

As partner of the Enterprise Europe Network (EEN), Luxinnovation organised several events and match-making sessions to facilitate cross-border technology transfers and partnerships. The Agency helped its clients prepare four technology profi les that are being disseminated internationally to potential partners. The global EEN network was renewed in 2015 and boasts a new service: IMP3rove, a diagnostics tool that Luxinnovation uses to analyse the innovation capacity of companies that want to enhance the impact and effi ciency of R&D and innovation actions.

SME SUPPORTSME SUPPORT

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Accumulated Fit for Innovation participations

Fit for Innovation offers SMEs access to the expertise required to strengthen their innovation capabilities and improve their performance. Qualifi ed experts focus on three key areas – costs, productivity and quality – in order to identify the potential for improvement. The aim is to enhance companies’ competitiveness and free up resources for innovation and growth.

Jan-

Mar

ch Jan

Jan-

Mar

ch

April

-Jun

e

April

-Jun

e

July

-Sep

t

July

-Sep

t

Oct

-Dec

Oct

-Dec

Dec

“BY GIVING US COMMON GOALS, FIT FOR COMMON GOALS, FIT FOR INNOVATION HAS MADE US A STRONGER TEAM.”

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A stepping stone for an optimised organisational approachA stepping stone for an optimised organisational approachA stepping stone for an optimised organisational approachAndré Reuter, Managing Partner, Polygone s.à r.l.

Fit for Innovation is a stepping stone for launch-ing a new organisational approach and fi nding time to work on the development of innovative servic-es, products and procedures. The initiative was well received by our staff. They came to realise quickly that the objective of the programme was to review our working methods overall to make the whole com-pany more effective, not to evaluate the individual performance of employees. By giving us common goals, Fit for Innovation has made us a stronger team. It has started a long-term process that will not end with the project. This is why I regularly recom-mend Fit for Innovation to colleagues in other com-panies – the benefi ts of the programme far exceed the efforts required.”

“The management team of Polygone will be over-hauled shortly, and I was pondering how to best handle this and ensure the company’s future stability and profi tability when Luxinnovation came to present Fit for Innovation. I saw participation in the programme as an excellent opportunity to review and improve our working procedures and put in place a sustainable management structure. We are now halfway through our project and already see very positive effects.

The Fit for Innovation consultant provided a 360° view of our operations that helped us change our internal everyday perspective and get a better overview of how we function and what we can improve. Together, we defi ned priorities and a clear action road map. We streamlined some of our administrative procedures, and are now developing tools to achieve a better matching between available staff and the resources needed for executing new orders. This makes the work load of our personnel more predictable and manageable and facilitates the allocation of resources to various projects.

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Luxinnovation’s presence throughout the pro-gramme stands for quality and facilitates participa-tion. Any company manager wishing to take their busi-ness a step further through innovation is most welcome to contact us to discuss joining Fit for Innovation.”

Releasing resources for innovationArnaud Duban, Fit for Innovation Programme Manager, Luxinnovation

“During our regular company visits, we often notice that albeit SMEs are well aware that innovation is critical for future sustainability and growth, their time and energy is mostly spent on daily activities. Hence the idea to design a programme that would focus on improving operational effi ciency and free up resources to work on new and possibly more complex innovation projects in the medium to long term.

Fit for Innovation is not a typical consulting tool, it is a real investment in the organisational functioning of a fi rm. As any investment, it should yield a concrete return – at least twice the outlay – for which there is ample evidence. From a cost perspective specifi cally, the programme is totally transparent: the participating company is aware of the total cost of Fit for Innovation before the launch of its project. More particularly, 50% of the fees of the experts involved are conditional on the degree of achievement of the objectives defi ned upfront.

NATIONAL FUNDINGLuxembourg boasts several attractive State aid measures for private sector organisations that carry out R&D and innovation projects. Luxinnovation plays a key role in guiding applicants to the most suitable aid measures and helping them draft successful applications.

A new legal framework for research, development and innovation aid measures was under preparation in 2015. Three aid schemes – R&D projects and programmes, process and organisational innovation in services and de minimis measures – were still operational, but due to the unavailability of other measures, the number of aids granted was lower than in 2014.

Fit for Innovation projects

Fit for Start participations

4

4

3

Fit for Innovation diagnostics

43 R&D projects

4 innovation projects

24de minimisprojects

11investments

2 feasibility studies

2 de minimisprojects

60

30 large

enterprises

30SMEs

11skilled craft

fi rms

15start-ups

6collaborative

and contractual research

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86 AID APPLICATIONS APPROVED

BY THE MINISTRY OF THE ECONOMY UNDER THE RDI

AND ENVIRONMENTAL PROTECTION LAWS

71RDI AID APPLICATIONS APPROVED

15ENVIRONMENTAL

PROTECTION AID APPLICATIONS

SUBMITTED WERE APPROVED

25

4

21

1

8

2

COMPANIES

15%automotive components

35% other themes

7% ecotechnologies

17%ICT

1% space

24% materials and

production technologies

PUBLIC-PRIVATE PARTNERSHIPS FINANCED IN THE CONTEXT OF PROJECTS SUPPORTED BY THE RDI LAW:

START-UPS AND SKILLED CRAFT FIRMS FINANCED ACCORDING TO THE PROVISIONS OF THE RDI LAW:

PROJECTS BY THEME:

“LPG is used as fuel in heating appliances and cooking equipment as well as, most importantly, in vehicles. Together with Prins Autogassystemen, we want to improve current LPG system technology in order to offer a high-performing, high-quality system at an acceptable cost price. These three dimensions are often contradictory since there is always a need for competitive pricing, but by using smart design and being both creative and innovative, we are convinced that we can succeed. The fi nal product will be sold to car manufacturers.

Neither Prins Autogassystemen nor Rotarex could do this project on their own. Our skills and know-how are complementary: Prins Autogas-systemen is specialised in developing complete sys-tems integrating our components. They also need our world-class knowledge in the fi eld of liquid injection systems and our capacity to develop a small-sized system that could be integrated into fuel tanks. We have a long-term client relationship with Prins, and this joint R&D project was a natural step forward.

Luxinnovation has helped us draw up State aid applications for R&D and innovation projects in the past more than once. We wanted to request a grant for this project as well, and since Prins Autogassystemen wished to apply for support in the Netherlands we decided to make a joint application through the Eurostars programme. As a company collaborating with enterprises in other EU Member States we not only saw our project costs co-funded with an additional 15%, but we also enjoyed a fi rst opportunity to participate in a European project – an experience that we are quite likely to repeat in the future.”

A transnational partnership for innovationMichel AntoineIntellectual Property Manager, Rotarex

“By using By using smart design and smart design and

being both creative and being both creative and innovative, we are innovative, we are convinced that we convinced that we

can succeed.”can succeed.”

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FINANCING THE WAY FORWARDHeadquartered in Luxembourg, Rotarex S.A. is a world-leading producer of high-quality gas con-trol products and systems. In March 2015, Ro-tarex joined forces with Dutch developer of alter-native fuel systems Prins Autogassystemen BV to develop downsized technology for the world’s most innovative Liquid Propane Gas/Gas Direct Injection (LPG/GDI) system. Supported by an R&D and innovation grant from the Luxembourg gov-ernment, this collaboration takes place within the context of the European Eurostars programme.

“Investing in R&D and innovation can be a risky venture for a company for a number of reasons: the large-scale deployment of an innovative solution may encounter technical hurdles, market acceptance may be diffi cult to assess, and protection of intellectual property may be an issue, etc. Our aim therefore is to help companies mitigate risks. Indeed, we assist our clients on different fronts. We help them defi ne the scope of their project, identify synergies with potential partners and optimise the exploitation of project results. We also facilitate access to different funding instruments.

With our help, our clients’ projects are ideally positioned to get co-funding from the Ministry of the Economy. Since we know the project assessment criteria, we will address any potential issue as early as during the preparation phase of the application. This, in turn, gives companies a better visibility of their project roadmap from the very start. Also, our clients stand to gain from the close relationship we maintain with private investors, banks (i.e. for InnovFin loans) and the state-owned bank SNCI. As professionals in this complex business fi eld, we share experiences and identify synergies with stakeholders while maintaining strict rules of confi dentiality.

We frequently encourage our clients to collab-orate with partners when conducting a project. Because no one can be a specialist in every fi eld, companies are well advised to focus on their core business and source complementary skills needed for the successful completion of their projects from partners, i.e. businesses or public research labora-tories with the sought-after expertise. Structuring such partnerships requires additional efforts, which are eligible for supplementary government funding of up to 15% of total project costs if the collaboration is deemed effective.

The most suitable partners may be located abroad, and while Luxembourg companies that fulfi l all requirements generally have no problems to get state funding, this may not apply to their potential partners. This is where Eurostars comes in, because the programme can be the answer to the public funding needs of the companies involved. A joint programme between EUREKA and the European Commission and funded by 34 countries and Horizon 2020, Eurostars targets SMEs in particular and offers a European quality label which may be useful to obtain funding as well as to market project results.”

Less risk, more visibilityPascal Fabing Head of National Funding, Luxinnovation

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EUROPEAN FUNDING

60 HORIZON 2020

PROJECTS OBTAINED with Luxembourg

participants

€17.7MILLION

OF HORIZON 2020 FUNDING OBTAINED

including 1 project fi nanced by the

previous framework programme FP7

18HORIZON 2020 AND 1 FP7 LUXEMBOURG

PARTICIPATIONS

KEY FIGURES 2015

16.2%OF HORIZON 2020

SUCCESS RATE for Luxembourg applica-

tions (above the European average of 13.8%)

16.2%16.2% 5 COMPANIES BENEFITED

FROM FIT FOR HORIZON 2020 AIDS

in the preparation of their Horizon 2020

projects

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Private enterprises

University of Luxembourg

Public research centres

National Research Fund/Luxinnovation

Other

289

8

312

Public organisations:€8,979,199

Private organisations:€7,184,621

Other organisations:€1,342,892

HORIZON 2020 FUNDING BY SECTOR:HORIZON 2020 PROJECTS BY TYPE OF ORGANISATION:

The European Commission’s framework pro-gramme for research and innovation, Horizon 2020, offers a wide range of funding opportunities to innovative companies, research laboratories and other organisations. R&D and innovation funding is also provided by intergovernmental initiative EUREKA as well as Eurostars and the programmes of the European Space Agency (ESA). In its role as National Contact Point (NCP) for these programmes, Luxinnovation advises and supports researchers and companies regarding funding applications and project management.

Due to the variety of EU funding programmes and their application process which generally involves open and competitive calls for proposals at European level, applying for EU funding can be quite challenging. To add clarity, Luxinnovation provides tailor-made recommendations to experienced EU project partners and introduces high-potential newcomers to the vast opportunities offered by European projects. Companies or researchers with project ideas that could fi t an EU programme are invited to get in touch with the European funding team.

Luxinnovation organised over a dozen open informa-tion sessions and in-house events on European funding in 2015. The Horizon 2020 Day on 2 October, which marked the launch of funding opportunities for 2016 and 2017, attracted 100 participants. The NCP team also met and worked one-on-one with project partners in view of submitting competitive project proposals. Special efforts were made to support the participation of SMEs. Since the launch of Horizon 2020 in 2014, one fourth of the funding obtained by Luxembourg organisations has gone to SMEs.

In its role as NCP for ESA programmes, Luxinnovation supported space sector players who seek to attract funding for their innovative ideas as well as those that look to expand internationally. The Agency provided support to organisations wishing to participate in ESA programmes and helped them prepare and submit funding applications. Luxinnovation continued to assist the Ministry of the Economy through as the Luxembourg representative at ESA and European Commission committees. The Agency participated in over 60 committees to defend the interests of the Grand Duchy and its space community.

Two Luxembourg companies supported by Luxinno-vation, POST and BCE, participated in successful project consortia selected by the EUREKA Celtic Plus cluster in 2015. By awarding an internationally recognised EUREKA label to the selected projects, EUREKA clusters help them mobilise considerable national funding. Also, Luxinnovation continued to promote the Active and Assisted Living (AAL) research programme that funds projects aiming to enhance the quality of life of elderly people through the use of information and communication technologies.

www.ncp.lu

www.esa.lu

50 ESA APPLICATIONS

SUPPORTED

resulting in

38 LUXEMBOURG

PARTICIPATIONS IN ESA

PROGRAMMES

€6.7 MILLION

OF ESA FUNDING OBTAINED

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LUXCORLUXEMBOURG CONTACT OFFICE FOR RESEARCH

LUXCOR will make it possible to gain

early information about early information about forthcoming EU policy

and programme updates, and programme updates, including funding

opportunities.

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Playing the role of Luxembourg’s research and innovation ambassador in Brussels, the main mission of LUXCOR is to increase the visibility at the European level of the country’s capabilities in this fi eld and to set up meetings between key people in Brussels and Luxembourg stakeholders. In addition, LUXCOR is tasked with hosting thematic events, facilitating the exchange of experience and supporting the European dimension of national fl agship projects in view of future Horizon 2020 calls.

Most importantly, LUXCOR will make it possible to gain early information about forthcoming EU policy and programme updates, including funding opportunities. The offi ce has become a member of IGLO, an association of Brussels-based non-profi t R&D liaison offi ces, and continues to foster relationships with EU institutions and other Brussels-based networks.

Being part of the relevant international networks, thereby receiving timely information and being able to set up strategic collaborations, is an important prerequisite for successful EU project participation. The Luxembourg Contact Offi ce for Research (LUXCOR) was established in September 2015 to permanently represent Luxembourg organisations in Brussels, the epicentre of much of the activity related to Horizon 2020 and other European programmes. The offi ce is managed by Luxinnovation staff.

LUXCOR is the joint initiative between the National Research Fund, the Luxembourg Institute of Health (LIH), the Luxembourg Institute of Science and Technology (LIST), the Luxembourg Institute of Socio-economic Research (LISER), Luxinnovation and the University of Luxembourg. The offi ce complements the stakeholders’ in-house EU support services as well as the NCP in a bid to seek out new opportunities.

The Luxembourg Cluster Initiative spearheads Luxinnovation’s efforts to diversify the national economy by accelerating the further development of selected high-potential sectors. The Initiative facilitates business development and collaborative fl agship projects in a number of fi elds spanning automotive components, biohealth, ecoinnovation, ICT, materials and production technologies, as well as space technologies. Another priority consists in stimulating internationalisation and promoting the technological excellence and innovation capabilities of Cluster members. In addition to the Clusters’ sector-related promotion activities, Luxinnovation regularly plays host to international business delegations. In 2015, collaboration opportunities were discussed with delegations from e.g. South Korea, Japan, Taiwan, the Democratic Republic of Congo and Tatarstan.

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Luxembourg Automotive Components ClusterThe automotive components sector in Luxembourg includes SMEs as well as multinational tier 1 suppliers such as Goodyear and Delphi. The Luxembourg Automotive Components Cluster aims to strengthen the sector by transforming potential synergies between Cluster members into concrete collaborations and resource sharing.

Thanks to an in-depth analysis in 2015 of the skills and expertise of its members, the Cluster management was able to identify potential synergies that have given rise to innovative collaboration projects currently underway, covering e.g. smart mobility and intelligent transportation systems. The “Luxembourg Connected Car” networking event organised in September at the international IAA trade fair in Frankfurt, where the Cluster shared a booth with “automotive.saarland”, attracted numerous professional visitors. The establishment of an Intelligent Transportation Systems platform in Luxembourg is now under investigation.

BUILDING AN ATTRACTIVE BIOMEDICAL ECOSYSTEM

An Automotive Campus, projected to be developed in the near term, is yet another initiative to fuel growth and create more international visibility for the sector. The Cluster has worked on outlining the structure and operating model of such a campus that would allow members to share facilities, equipment, RDI efforts and attract the required skilled and talented employees. The Cluster also supported the set-up and development of several start-ups, which is quite unique in the Luxembourg automotive components fi eld, and released a video publicising the expertise and strengths of the automotive components sector.

www.automotivecomponents.lu

SHARING SKILLS AND RESOURCES

Luxembourg BioHealth ClusterLuxembourg’s biomedical sector is still relatively young. Public research has developed strongly over the past years, but boosting the number of private enterprises is essential to ensure the sector’s long-term sustainability. The Luxembourg BioHealth Cluster plays a key role in strengthening the national ecosystem and making it attractive on the international level.

Because fi nancing is a key challenge for biomedical companies, the BioHealth Cluster initiated a working group charged with analysing the relevance of seed funding for biomedical projects and the surrounding conditions to effectively govern such an instrument. The group carried out an assessment of similar tools in other countries and elaborated a proposal for a seed funding mechanism tailored to the particularities of the Luxembourg ecosystem. The proposal was presented to a wider group of stakeholders and relevant ministries.

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DRIVING THE CIRCULAR ECONOMY

Other Cluster activities include the development of a roadmap for the successful transition towards a circular economic model. 18 possible demonstration projects were identifi ed, and received active support from the Cluster. Several projects on wastewater treatment are now underway. In particular, a Cluster member is implementing a major project with the aim of moving from a linear to a circular economy approach. It is worth noting that the Cluster helped its members to get a foothold in the international market and share their skills abroad, and notably helped Luxembourg companies win two projects for developing renewable energy concepts in Cape Verde.

www.ecoinnovationcluster.lu

To build up the ecosystem, bringing new companies to Luxembourg is essential. The Cluster profi ted from its participation in major international events and trade fairs to promote the capabilities and achievements of national research centres and enterprises. In particular, while attending the BIO International Convention in Philadelphia and the MEDICA fair in Düsseldorf, the Cluster had the opportunity to familiarise international companies with the advantages of setting up activities in Luxembourg and introduce them to the relevant stakeholders and potential partners. Besides, the Cluster offered targeted advice and tailored programmes to companies that visited Luxembourg as part of their search for a new business location outside their home country.

www.biohealthcluster.lu

Luxembourg EcoInnovation ClusterMoving toward a circular economy is generally seen as a viable and practical solution to the planet’s emerging resource scarcity. The current “take-make-dispose” linear economy approach results in massive waste and is reaching its physical limits. A circular economy, however, aims to decouple economic growth from the use of natural resources and ecosystems and uses those resources more effectively. To quote Cluster Manager Marcel Klesen: “For the economy there is no plan B – because there is no planet B”. Stimulating Luxembourg organisations to adopt working models aligned with the circular economy therefore remains a top priority of the Luxembourg EcoInnovation Cluster.

The Cluster works closely with the Luxembourg gov-ernment in promoting environmental and economic sustainability. Its involvement in “Financing the Cir-cular Economy”, a conference hosted in December 2015 by the European Investment Bank, refl ects the Cluster’s commitment to raising the fi nancial sector’s awareness of the specifi c implications of circular business models, in particular in terms of access to risk fi nance for circular economy projects. The gov-ernment also designated the town of Wiltz as a “cir-cular economy hot spot”. The town will see a number of circular economy pilot projects implemented with the support of the Cluster.

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Luxembourg ICT ClusterLuxembourg has one of the best digital infra-structures in the world and offers a stimulating environment for companies that are active in information and communication technologies (ICT). The Luxembourg ICT Cluster provides support to and acts as a door opener for new business ventures in the fi eld.

Cybersecurity, fi ntech, big data, open data, multi-media and the internet of things are among the most interesting fi elds for new ICT businesses in Luxembourg. During 2015, the ICT Cluster identifi ed and worked with several promising start-ups. More specifi cally, the Cluster introduced them to potential partners and helped them reach out to international markets.

ENHANCING INDUSTRY PERFORMANCE

Luxembourg Materials and Production Technologies ClusterThe Luxembourg Materials and Production Tech-nologies Cluster plays a key role in the country’s drive to generate sustainable manufacturing growth. With the launch in 2015 of several fl agship projects, the Cluster made great strides to boost R&D and innovation and to facilitate the uptake of new materials and production methods. Notably, it played a key role in the creation of the National Composite Centre – Luxembourg that was set up in early 2016.

The development and deployment of High Perfor-mance Computing (HPC) technologies is important to ensure the competitiveness of European research and industry. Recognising that Europe is lagging far behind other countries, Luxembourg, in partnership with France, Italy and Spain, decided to initiate a major trans-European project to close the gap in terms of HPC-enabled applications, notably with China and the United States. Mandated by the Ministry of the Economy, the Materials and Production Technologies Cluster teamed up with the LIST to defi ne an “Important Project of Common European Interest” with the ultimate goal of positioning Luxembourg as a “Smart Nation” in a number of areas, including smart manufacturing, smart space, smart agriculture, smart energy, smart building, smart city, smart mobility and fi ntech. The project is about to be launched with the endorsement from the European Commission.

The ICT Cluster co-organised several events designed to increase the chances of success of high-potential start-ups. It helped participants prepare for pitching sessions organised jointly with Docler Holding as well as with Société Générale Bank & Trust. In the fi rst case, the successful a company took home €50,000 and signed a large contract with Docler Holding; in the second, several promising start-ups attracted the interest of Société Générale and are currently negotiating the potential use of their products by the bank. Also, the Cluster co-hosted the “Security Start-up Challenge” in partnership with Mangrove and Kapersky Lab. What’s more, Cluster members had the opportunity to attend a private session with Kaspersky Lab’s Managing Director Europe, who offered insight into various aspects of cybersecurity. In addition, the Cluster contributed to the development of the “Digital Lëtzebuerg” strategy that aims to create an attractive ecosystem for ICT start-ups.

www.ictcluster.lu

PROMOTING NEW ICT BUSINESS

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In 2015 the Cluster embarked on two other fl agship projects: additive manufacturing and robotics. An analysis of the current use of technologies, materials and applications as well as of forthcoming opportu-nities confi rmed that there is an unexploited market potential for Luxembourg companies in the fi eld of additive manufacturing. The project group, which consists of 19 enterprises, the LIST and the Universi-ty of Luxembourg, is now ready to launch an industry benchmarking study to defi ne a strategic roadmap for the next steps. In addition, the Cluster carried out a global market study on robotics in 2015 in close collaboration with the Sacred Heart University. A fl agship project for Luxembourg actors around this theme is in the starting blocks.

www.materialscluster.lu

Luxembourg space sectorBeing known and renowned on a global level is vital for organisations that want to succeed in the space sector. This is particularly challenging for SMEs that have the capabilities but lack the networks and resources for high-level marketing. A main focus of Luxinnovation is therefore to promote Luxembourg space capabilities internationally.

In addition to the extensive support provided to space sector players seeking to participate in Euro-pean Space Agency (ESA) programmes, Luxinnova-tion participated in April in an economic mission to SouthWestern United States together with several companies and public organisations of the space technology sector. The mission, which was carried out jointly with the Chamber of Commerce and also included representatives from the materials and pro-duction technologies sector, provided an opportu-nity to visit major centres for aeronautics and space technologies in California and Arizona. Participants had discussions with large players including Boeing, Lockheed Martin Space Systems and SpaceX as well as successful newcomers Deep Space Industries and Planetary Resources, among others, and met with representatives from NASA’s Ames Research Centre, the NASA Jet Propulsion Laboratory (JPL) and the Arizona State University.

Numerous contacts with potential suppliers, clients and partners of Luxembourg space players were initiated when Luxinnovation and some clients attended the International Paris Air Show at Le Bourget, Paris and at the Space Tech Expo & Conference Europe in Bremen. The European network of the sector was also strengthened through the signature of a partnership agreement with Skywin, the aeronautics and space cluster of Wallonia. The collaboration agreement focuses on information exchange, the coordination of joint activities and the setting up of concrete collaborations between Luxembourg and Wallonia players to strengthen their international growth ambitions.

www.spacecluster.lu

STRENGTHENING INTERNATIONAL COLLABORATION

ATTRACTING INTERNATIONAL TALENTAttracting talented entrepreneurs and innovative companies to Luxembourg and helping them set up operations is an important mission of Luxinnovation. The Clusters make a key contribution: an in-depth knowledge of their respective sectors combined with a profound understanding of the needs of enterprises interested in the Grand Duchy allows them to provide support every step of the way.

“The core business of Centrofl ora CMS is the man-agement of manufacturing activities and distribution of active pharmaceutical ingredients (API). When the company was set up as the joint venture between its Swiss parent CMS Pharma and Brazil’s Centrofl ora Group, we chose Luxembourg for several reasons. The country offers a business-friendly environment where various government administrations con-structively work with companies to facilitate their business activity and reduce the level of red tape. The geographical location between four leading centres for the pharmaceutical industry in Europe – Belgium, France, Germany and the Netherlands – and the access to pharmaceutical talent appealed to us. The cold chain logistics hub established at the airport represented an additional major advantage.

Within a few weeks of acquiring a portfolio of API from German company Boehringer Ingelheim, we were able to set up a fl edgling distributorship with all required regulatory approvals to conduct business within the European Union as well as globally. We have since then cemented our position as a global supplier of API and are now investing heavily in R&D to develop innovative and custom-made cold chain logistics solutions for the pharma industry.

The role of the BioHealth Cluster is fundamental to help what is still a rather small business ecosystem achieve critical mass and to pursue the development of this highly regulated industry in Luxembourg. The Cluster promotes the healthcare industry towards the government, helps us get access to key decision-makers and supports various activities on our behalf. I highly recommend Luxinnovation: the Agency is a great resource that every healthcare company inter-ested in launching activities in Luxembourg should contact.”

“Within a few weeks, we

were able to set up a � edgling distributorship � edgling distributorship

with all required regulatory with all required regulatory approvals to conduct business within the European Union as

well as globally.”

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A European home from homeAndrew Badrot Founder and CEO, Centrofl ora CMS

”Over the past decade, Luxembourg has made considerable efforts to develop a life sciences sector and public research in the fi eld has signifi cantly expanded. The sector is, however, still small and young, and private industry needs to be further developed. While lending continued support to domestic companies, we obviously strive to attract enterprises from abroad, too. Our aim is to gather a critical mass in selected focus areas, for example molecular diagnostics and Parkinson’s disease.

Luxembourg has much to offer to biomedical companies. Public research organisations are happy to help them develop and grow their projects while the country’s central location in Europe is an ideal hub for reaching other countries and markets. As a matter of fact, companies don’t have to be an industry heavyweight to gain access to decision makers. Likewise, it is easy for young companies to increase their visibility abroad by joining an offi cial or economic mission as part of a Luxembourg delegation headed by Crown Prince Guillaume or a minister.

The BioHealth Cluster introduces newcomers to key people and guides them through the establishment process. Typically, we would help with setting up a legal structure in Luxembourg, defi ning a suitable business model for the European market, estimating fi nancial needs and fi nding the best funding sources – private equity, bank loans, state aid or European funding. We would also identify synergies with established Cluster members and develop joint initiatives. Targeting a new market, say, or requesting a regulatory change from an authority is much more likely to succeed when several companies pull together instead of trying on their own.”

Stronger togetherDr Thomas Dentzer Cluster Manager, Luxinnovation

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While the LIST is dealing

with all aspects of with all aspects of research, the Cluster research, the Cluster is acting as a liaison is acting as a liaison

with industrial partners.

Testifying to the successful collaboration between private industry, public research and the government, the National Composite Centre – Luxembourg (NCC-L) focuses on industry-oriented R&D and innovation projects in the form of Public Private Partnerships. The commitment to the concept of the Centre was facilitated by the Luxembourg Materials and Production Technologies Cluster in 2015. The NCC-L will start its operations by Q3 in 2016.

The NCC-L aims to improve the competitiveness of the Luxembourg composite materials sector by fur-ther strengthening and expanding the industry’s con-siderable skills and capabilities. Originally a brain-child of the High Committee for Industry, the project kicked off with a feasibility study managed by Luxin-novation which revealed numerous research themes potentially of interest to several companies, including composite structures and functionality, characterisa-tion and modelling technologies, manufacturing and processing technologies, bio composites, recycling and recovery.

On behalf of all the stakeholders, i.e. the Ministry of the Economy, the Ministry of Higher Education and Research, the LIST, the National Research Fund and Luxinnovation as well as twelve private sector companies, the Cluster translated the fi ndings of the study into an operational concept covering the scope of work, the main research themes and po-tential multi-partner collaboration projects. In close collaboration with Luxinnovation’s national funding team, the Cluster also elaborated a funding model for the Centre, which allowed the NCC-L to secure over €100 million for a duration of fi ve years starting from the fi rst day of it operation, funded in equal parts by the private and public sector.

The NCC-L’s current team of 30 researchers is due to increase to 60 staff shortly. While the LIST is dealing with all aspects of research, the Cluster is acting as a liaison with industrial partners. It will organise the NCC-L’s Industry Advisory Group whose mission is to ensure that the Centre is fully engaged in applied research that is aligned with the needs of the indus-try and to identify research topics that will lead to further projects. The parties involved are confi dent that NCC-L will help Luxembourg position itself as a major force in the global composite materials mar-ket, thereby attracting new foreign direct investment to Luxembourg.

NATIONAL COMPOSITE CENTRE — LUXEMBOURG

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One of Luxinnovation’s main missions is to create opportunities for people and organisations to learn how they could benefi t from innovation – sometimes in ways they did not the least expect. In addition, the Agency promotes Luxembourg innovation and research at an international level.

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OPEN DOORS TO PUBLIC RESEARCH LABORATORIESThe Luxembourg research landscape is very dynamic with its focus constantly moving to new challenges arising from technological and other developments. The innovative concept of the Luxinnovation forum “Business meets Research” on 21-22 May offered almost 250 entrepreneurs and researchers an oppor-tunity to step across the threshold of 12 laboratories where they met with staff, discovered the equipment and learnt about the latest projects. Individual meet-ings between participants were also organised upon request in the context of “Innovation Matchmaking”.

LINKING SMES AND INNOVATIONCompanies, and in particular small enterprises, often struggle to survive in an increasingly competitive market place. While such an environment may hamper visionary thinking and creativity, SMEs must nevertheless devote suffi cient time to innovation, which is a proven means of creating value and hence ensuring continued success. The objective of “Innovation from SME to SME”, a Luxinnovation conference in June that attracted over 100 delegates, was to demonstrate that there are many different ways for a company to be innovative and successful.

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HOW TO START A START-UPStarting a new company might be a tempting idea, but how do you go about it if you want to succeed? In response to this question, Luxinnovation set up the “How to Start a Start-Up” conference series together with Jonk Entrepreneuren Luxembourg, luxfuturelab, Technoport, nyuko, LPEA, the Chamber of Commerce, the University of Luxembourg and Silicon Luxembourg. The events were based on a lecture series from Stanford University with famous US entrepreneurs and investors sharing their personal experience on how to come up with brilliant business ideas, design products people love and raise venture capital. After these video-transmitted messages, Luxembourg entrepreneurs and investors added their local perspective. A total of 550 participants attended the 21 session organised between March and December.

NEW FOCUS MAGAZINE PROMOTES LUXEMBOURG INTERNATIONALLYFOCUS – Research and Innovation in Luxembourg is a key tool in Luxinnovation’s efforts to make Luxembourg R&D and innovation known and renowned internationally. Released in October, the magazine now boasts a revamped, fresh layout which refl ects the attractiveness of Luxembourg to entrepreneurs, researchers and investors across the globe. Manufacturing technologies of the future take central stage in this 10th issue which is dedicated to the production of composite materials, lean manufacturing, robotics, high-tech laser applications and more.

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AN INNOVATION DIMENSION FOR PUBLIC PROCUREMENTPublic procurement can become a driver of innovation by prompting contractors to be creative and pioneering. Currently, however, few public procurement procedures include an innovation aspect. In order to remediate this, Luxinnovation published a good practice guide in May called “Promouvoir les solutions innovantes à travers les marchés publics” (“Promoting innovative solutions through public procurement”). The Agency also set up a dedicated web page presenting innovation solutions potentially of interest to public procurers that have been developed by Luxembourg organisations with the help of public grants.

www.innovativesolutions.lu

A NEW ENTRY POINT TO LUXEMBOURG INNOVATION AND RESEARCH

Gone are the days when a computer was our only means for accessing the internet – today, smartphones and tablets are frequently used to fi nd information on the web. This is why Luxinnovation has released a new version of the Luxembourg Portal for Innovation and Research in responsive design, which provides easy reading and navigation on any size of screen. Available since 2 July, the new Portal offers an improved structure, design and navigation as well as some additional information features promoting Luxembourg R&D and innovation.

www.innovation.public.lu

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WHEN LITTLE HEADS HAVE GREAT IDEAS26 creative young people were rewarded for their great ideas submitted for the 7th edition of the GENIAL competition. Managed by Luxinnovation in close collaboration with the Ministry of Education, Children and Youth, this initiative aims to encourage children to think outside the box and develop innovative solutions for some of the current problems. A trampoline that converts vibrations into energy, a smart jammer system that prevents the use of mobile phones when driving and a robot that cools hot air to turn it into drinking water were among the 250 innovative ideas proposed by almost 400 participants. All projects were on display at the Belle Etoile shopping centre for a two-week period.

www.genial.lu

Luxembourg industry was in the international spotlight as the MANUFUTURE 2015 conference took place at the European Convention Centre in Kirchberg on 23-24 November. Organised by Luxinnovation and its partners and sup-ported by the European Commission, this major international event gathered over 800 participants from industry, academia and the public sector all over Europe. The aim was to develop recommendations to reindustrialise Europe and ensure that its industry remains competitive in the global market in the long run.

The bi-annual MANUFUTURE conference addresses topics of strategic importance for the future of the manufacturing industry. Luxinnovation successfully applied for hosting the 2015 edition under the aus-pices of the Luxembourg Presidency of the European Union and organised the event in collaboration with FEDIL – Business Federation Luxembourg and the National Research Fund.

Speakers discussed the use of key instruments such as the European Structural and Investment Funds and Horizon 2020 and outlined ways to widen the access to fi nance to new manufacturing ventures as well as established companies with high growth

potential. Manufuture 2015 also aimed to assess manufacturing research and development progress in Europe compared with global competitors and develop recommendations for national and European policy makers. Participants had the opportunity to listen to over 80 international speakers and participate in the debate about the future of the European industry.

In addition, speakers from Luxinnovation and Luxembourg-based industry players ArcelorMittal, CEBI, CTI, Delphi, Maxim Group, the Learning Factory, Tarkett and the LIST shed light on the main challenges facing the country’s industry while highlighting its cutting-edge products and advanced skills. Delegates were also given the opportunity to visit the Goodyear Innovation Centre-Luxembourg as well as the production site of FANUC.

MANUFUTURE 2015Stimulating strategic investments in European manufacturing

Speakers from Luxinnovation and

various Luxembourg-based industry players shed light on the main challenges facing the

country’s industry while highlighting its cutting-

edge products and advanced skills.

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A NEW HOME FOR RESEARCH AND INNOVATIONThe former steel production site in Belval is well under way of becoming Luxembourg’s new hotspot for research, higher education and innovation. On 27 July, Luxinnovation took possession of its new premises in the House of Innovation, which it shares with several departments of the LIST and the lifelong learning centre DeWidong. The Agency is thus established at the very heart of the City of Sciences that is also home to the University of Luxembourg and the Technoport incubator.

A PARTNER FOR LONG-TERM COMPETITIVENESSChaux de Contern is one of the largest producers of concrete in Luxembourg and the Greater Region. Established almost a century ago, the company is a leader in its fi eld and well aware that forward-thinking and innovating is crucial to remain competitive. Like many other organisations in Luxembourg, Chaux de Contern has a long-term partnership with Luxinnovation that facilitates its innovation activities.

Innovative products for changing marketsCarlo Spina Head of Construction, Green Building and Innovation, Chaux de Contern

“The construction market is changing: from 2017 onwards, all new buildings in Luxembourg will have to comply with the ‘passive house’ AAA standard and requirements in terms of energy effi ciency, thermic insulation and environmental impact. There will also be benefi ts for builders using natural materials that are available in infi nite quantities. We are keen to be at the forefront of this development which allows us to remain competitive and offer products with ever higher value-added. With the help of Luxinnovation, we therefore designed the ‘Crossroads’ R&D project and successfully applied for state aid to make it happen.

Developing new, innovative products requires specifi c skills that we don’t always fi nd in-house. We have therefore set up a collaboration with the University and the LIST to conduct applied R&D on behalf of Crossroads and provide us with fi ndings needed to progress. In addition, sustainable con-struction centre Neobuild has put us in touch with several other companies that work on similar pro-jects, which gives us access to a great platform to share experiences and discuss potential solutions.

“We are keen to be at the forefront of this development which allows us to remain competitive and offer products with

ever higher value-added.”

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Serving the needs of our clientsJean-Paul SchulerCEO, Luxinnovation

“Luxinnovation’s key strength lies in the comple-mentarity of the skills and competencies of our team. The wide-ranging expertise of our staff enables us to provide effi cient and all-inclusive support that meets our clients’ needs. Likewise, Chaux de Contern has benefi ted from the advice of our national funding team, draws on the knowledge of our eco-innovation experts and is enrolled in the Fit for Innovation programme run by our SME support service. Anyone looking to engage in innovative activities in Luxembourg – founders, entrepreneurs and researchers as well as foreign enterprises and investors – should contact us. We provide integrated and tailor-made services and are there to guide you towards success.”

Product development is not enough though. We are also defi ning business models based on a circular economy approach. Not only does this bring us new business opportunities, it also enables us to lessen our environmental impact. Take the example of the tonnes of production waste that currently sit at our premises. Instead of bringing new raw materials to our site by lorry or train, we are investigating innovative means with Luxinnovation and other partners to treat such waste on-site and reinject it into the production process. We manufacture hemp blocks used for construction that can be recovered after the original building is demolished. Interestingly, we also let municipalities and individuals return disused concrete paving stones, which we then treat and reuse. We are convinced that numerous other products could be adapted in a similar manner.

The drive for innovative thinking extends to our internal working procedures, too. Chaux de Contern has several production units that are located on the same site but work independently. Although we realised that there was potential for improving our effi ciency and internal cooperation, we needed the views and know-how of an external expert to fi nd the way forward. Joining Luxinnovation’s Fit for Innovation programme was an obvious choice that allowed us to identify the issues that had to be addressed and to work on solutions. We are currently improving organisational processes and enhancing the effectiveness of our production chain.

Luxinnovation is a key partner for us. When I need information about any topic related to R&D and innovation I call my contact at the Agency – I know that I will get a fast, reliable and useful answer.”

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ANNUAL ACCOUNTS

Balance sheet 31 December 2015 (EUR)

ASSETS 2015 2014

FIXED ASSETS 633,943.96 103,021.94

Intangible fi xed assets 280,667.22 27,261.89

Tangible fi xed assets 353,276.74 75,760.05

CURRENT ASSETS

Debtors

Cash at bank and in hand 1,597,261.21 2,072,425.72

PREPAYMENTS 54,827.47 73,184.01

TOTAL 3,189,908.17 3,122,400.78

LIABILITIES 2015 2014

CAPITAL AND RESERVES 2,345,618.08 2,216,843.24

Subscribed capital 541,739.24 541,739.24

Reserves 1,692,439.84 1,675,104.00

Profi t or loss for the fi nancial year 0.00 0.00

Capital investment subsidies 111,439.00 0.00

PROVISIONS 154,777.00 142,242.00

NON SUBORDINATED DEBTS 656,126.00 574,125.34

Amounts owed to credit institutions 18,008.51 524.50

Trade creditors 300,155.54 118,315.51

Tax and social security debts 147,859.87 159,062.53

Other creditors 190,102.08 296,222.80

DEFERRED INCOME 33,387.09 189,190.20

TOTAL 3,189,908.17 3,122,400.78

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Profi t and loss account 31 December 2015 (EUR)

CHARGES 2015 2014

Use of merchandise, raw materials and consumable materials 23,824.48 16,200.58

Other external charges 1,728,371.72 1,446,335.60

Staff costs 4,392,206.50 3,843,875.44

Value adjustments on tangible and intangible fi xed assets 106,386.72 80,572.79

Value adjustments on current assets 0.00 10,752.92

Other operating charges 182,390.78 169,728.30

Extraordinary charges 8,249.71 2,669.08

TOTAL 6,441,429.91 5,570,134.71

INCOME 2015 2014

Reversal of value adjustments on current assets 0.00 53,822.38

Other operating income 6,439,847.24 5,514,401.84

Other interest and other fi nancial income 1,315.93 1,876.46

Extraordinary income 266.74 34.03

TOTAL 6,441,429.91 5,570,134.71

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OUR TEAM

Laura FICHTNERLaurence ROUGEOT

As of 24 March 2016Anthony AUERT, Fabiola BARDELLI, Claudine BETTENDROFFER, Carmen BEYERLE, Sara BOUCHON, Johnny BREBELS, Lionel CAMMARATA, Rahsan CELIK, Patricia CONTI, Ian CRESSWELL, Brigitte DE HAECK, Thomas DENTZER, Marie-Hélène DOURET, Arnaud DUBAN, Pascal FABING, Laurent FEDERSPIEL, Claude FEIEREISEN, Marc FERRING, Janine FLECK, Virginie GODAR, Barbara GRAU, Rémi GRIZARD, Jannik HAGEN, Nadège HEGUE, Jean-Paul HENGEN, Isabelle HENNEQUIN, Younis HIJAZI, Katharina HORST, Antoine HRON, Christopher HULL, Marcel KLESEN, Alexander LINK, Jean-Michel LUDWIG, Grégory MARTIN, Frédéric MELCHIOR, Marine MOMBELLI, Lena MÅRTENSSON, Elisabete NUNO, Joost ORTJENS, Mireille PELLIN, Benjamin QUESTIER, Frédéric ROUESNEL, Martine SCHEUREN, Jean-Paul SCHULER, Luciana SPANNAGEL, Gaston TRAUFFLER, Kathrin WATTELLIER

MANAGEMENT BOARD

As of 24 March 2016Luxinnovation operates under the guidance of a Management Board comprising 7 board members and their substitutes.

Board membersRaymond SCHADECK — Board ChairIndependent director

Marco WALENTINY — Vice Chair Conseiller de direction 1ère classeMinistry of the Economy

Gaston SCHMIT — Vice Chair Premier Conseiller de GouvernementMinistry for Higher Education and Research

Gilles SCHOLTUSConseiller de Gouvernement 1ère classeMinistry of the Economy

Gérard EISCHEN — Vice Chair Member of the Board of DirectorsLuxembourg Chamber of Commerce

Jeannette MULLER — Vice Chair Conseillère technique et économiqueLuxembourg Chambre des Métiers

Georges SANTER AdviserFedil – Business Federation Luxembourg

Substitute board membersMario GROTZConseiller de Gouvernement 1ère classeMinistry of the Economy

Marc SERRESESA policy and programmes, National Space ProgrammeMinistry of the Economy

Josiane ENTRINGERConseiller de Direction adjointMinistry for Higher Education and Research

Christel CHATELAINAttachée économiqueLuxembourg Chamber of Commerce

Charles BASSINGDirecteur Général AdjointLuxembourg Chambre des Métiers

Henri WAGENERAdviserFedil – Business Federation Luxembourg

SecretariatJean-Paul SchulerCEOLuxinnovation

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LUXINNOVATION GIE 5, avenue des Hauts-Fourneaux 5, avenue des Hauts-Fourneaux L-4362 Esch-sur-Alzette L-4362 Esch-sur-AlzettePhone (+352) 43 62 63 - 1 Fax (+352) 43 81 20 info@luxinnovation.lu info@luxinnovation.lu www.luxinnovation.lu