Head of the Digital Tech Fund Alain Rodermann stated the two recipients were selected for their “quality of service and their competitive position”
(Photo: Maison Moderne
Itravel & Nektria: first recipients of Digital Tech Fund
Two startups were presented €500,000 euros each for the first investment by the Digital Tech Fund on 10 July during a press conference at the Ministry of the Economy.
One of the recipients, Itravel, operates a purely digital tourism platform, where users can look into nearly 5,000 journeys in 64 destinations based on their own preference and style of travelling, with experiences ranging from culinary to shopping, roadtrips and more.
Barcelona-based, award-winning Nektria, with its specialised platform to help users reduce delivery costs and optimise online ordering, was the second recipient. In May 2017, Nektria opened a subsidiary in Luxembourg, and according to CEO Javier Juncadella, the startup anticipates the creation of eight to ten new jobs in the next year. He also praised the “ultra-broadband connections and very short latency between Luxembourg and the primary internet access centres in Europe”.
The two recipients were selected, according to Alain Rodermann who heads the Digital Tech Fund, for their “quality of service and their competitive position” and further touted the leadership and professionalism of the startups.
The Digital Tech Fund was set up by the Ministry of the Economy with private investors in 2016 in a bid to support innovation in technology in the grand duchy. The fund should help “contribute significantly to the creation of an innovative and efficient ecosystem in the grand duchy”, according to Étienne Schneider, deputy prime minister and economy minister.