The director general of the Chamber of Commerce, Carlo Thelen, announced on Friday evening the extension of the House of Startups for six years, until the end of 2029. (Photo: Maison Moderne)

The director general of the Chamber of Commerce, Carlo Thelen, announced on Friday evening the extension of the House of Startups for six years, until the end of 2029. (Photo: Maison Moderne)

The House of Startups, a key meeting place for start-ups in Luxembourg (in addition to Technoport) will continue to run for another six years, director general of the Chamber of Commerce Carlo Thelen announced on Friday evening during an event attended by the ministers of finance and economy.

"The country needs you!" House of Startups CEO told finance minister  (DP) and economy minister  (LSAP). On the eve of a crucial tripartite, the ministers had gathered to spend an hour and a half at the event organised by the Chamber of Commerce. The two ministers did have to slip away before the pitches of three start-ups and the festive part of this back-to-school event for start-ups.

 announced the extension of the initiative launched by and for another six years, and therefore until the end of 2029. It currently hosts four incubators and more than 200 start-ups at the Luxembourg-City Incubator, the Lhoft, the Village by CA, and the International Climate Finance Accelerator Luxembourg.

"Almost every minister has passed through here," recalled Thelen in front of an audience of 200 people. Institutional players were present, like Luxinnovation CEO  and seasoned entrepreneurs such as Doctena’s  (who now heads not only a federation of start-ups, but also an initiative for founders by founders). Also attending were “rock stars” such as , the CEO of Lhoft, and Marzio Schena, the CEO of ANote Music, among others.

A tax incentive for business angels

Both sides exchanged meaningful messages. "We are counting on you to provide the solutions of tomorrow and we will support you in the years to come," said Fayot. "We are in a situation that is neither easy in Luxembourg nor in Europe, and it gives us even more pleasure to be here with you,” Backes added, before reiterating her desire to help with the digitalisation of the financial sector and sustainability.

“Perhaps we should imagine a tax advantage for business angels who invest in a start-up," said Zubairi--earning the room’s applause--as the subject often comes up in conversations. From the way the two ministers turned their heads towards each other, it was clear that they had already talked about it, even if former finance minister  (DP) had dismissed the idea of a reform before the next legislative elections.

The head of the LCI, Bastien Berg, wished that start-ups could more easily open a bank account. Amélie Madinier, who runs the Village--one of the 44 Crédit Agricole structures--would like to see support for very young entrepreneurs who have only one idea and who are nevertheless at the forefront of the economy of the future. And the , Stephan Peters, said that successful founders often reinvest in the ecosystem they know, in a virtuous cycle for the ecosystem.

The event concluded with attendees 'pollinating', as finance minister Fayot put it: to meet, get to know each other, exchange ideas, collaborate and set up partnerships. 

This story was first published in French on . It has been translated and edited for Delano.