04 Aug Could Luxembourg be a rising Tech hub in Europe?
Based on CNBC data, European venture investments have already reached over EUR 40 Bil since the start of 2021. Large cities like London, Paris or Munich have been the center of focus till now. However, Luxembourg has displayed admirable business digitalization.
This could come as a surprise to some – According to the Mayor.eu (an online news portal part of EuroAdvance Association), Luxembourg is primed with the necessary factors to continue rising.
Despite its small size, the country’s tech ecosystem funding quadrupled from 2018 to 2019 and for a long time, it has been seen as a global financial leader. Big players like Amazon, Paypal and Rakuten have chosen Luxembourg as their European HQ and it has a robust ecosystem around the Aerospace sector.
The country has the strategic capabilities to provide tech start-up funding and opportunities – the question of whether Luxembourg can be hail as a tech hub is dependent on time and attracting firms.
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Article Link: https://www.themayor.eu/en/a/view/is-luxembourg-becoming-the-silicon-valley-of-europe-8431