POLITICS & INSTITUTIONS - ECONOMY

Business & Innovation

Luxinnovation announces new 4-year strategy



Luxinnovation CEO Sasha Baillie speaking at a launch event in 2021. Sophie Margue/Luxinnovation

Luxinnovation CEO Sasha Baillie speaking at a launch event in 2021. Sophie Margue/Luxinnovation

Luxembourg agency, Luxinnovation, responsible for national innovation published its strategy for 2022-2025, which aims to help equip itself, the country’s companies and the national economy with digital transformation and climate change challenges.

Luxinnovation carried out a comprehensive review at the beginning of 2021, with the aim to clearly state their mission, vision, values and strategic objectives in view of the vast challenges Luxembourg companies and the economy currently face.

The innovation specialised organisation outlines seven key priorities, two of which focus on internal operations and five externally, on the ecosystem. Luxinnovation will aim to provide in-depth knowledge about their ecosystem and customers while supplying quality customer experience and attracting innovating companies and start-ups. The agency's priorities also include proposing ideas to shape Luxembourg's economy and promoting the country's economic and innovation know-how while also empowering their staff and ensuring efficient, digitalised and sustainable internal operations.

Economy minister Franz Fayot (LSAP), praised the agency for its new strategic focus, “I am pleased that Luxinnovation has ensured that its objectives are aligned with broader national, European and international strategies to develop a sustainable digital and competitive economy through innovation.”

Having set out its strategic goals, the agency further announced that in an economy that is becoming more sustainable and data-driven, it is essential that they lead this transformation, through: “identifiable and accessible in-house digital expertise and support”.

Therefore, their digital innovation hub, national and international digital-shaping initiatives, and in-house digital and data expertise are to be consolidated under one “digital transformation department”, which aims to support companies in their digital upscaling and in developing digital solutions.

To achieve the sustainable goals mentioned in their strategy, Luxinnovation are to merge all economic activities relating to sustainability across many sectors: materials and manufacturing, wood, automobility, cleantech and creative industries under one sustainability hub. This will allow for a better overview of all sustainability related projects, with the aim of identifying any gaps and opportunities.

A new knowledge hub on their website will allow the agency to better disseminate and make available innovation knowledge that is being developed by Luxinnovation to businesses and government decision makers.

“All our partners and all the driving forces of our ecosystem are working towards the common objective of a sustainable and competitive economy encompassing numerous thriving, innovative companies,” said Sasha Baillie, CEO of Luxinnovation. “To achieve this goal, we need an in-depth understanding of the companies we serve, and we need to nurture close and constant interaction and collaboration with our partners. We are therefore committed to being interconnected at all levels and channelling our activities in a clear and structured way towards our common endeavour.”