Co-chaired by LBAN members Fabrice Testa and Tor Fyksen, the subgroup will hold its first meeting in September.

LBAN is a non-profit organisation devoted to providing tools to business angels to improve investments. With the launch of the new group, it hopes to support the grand duchy’s position as a space nation. Its main objective will be to connect investors with the space industry and will serve as an important force in supporting Luxembourg-based businesses, according to the group chairman, Marc Molitor.

LBAN is a non-profit organisation with around 60 members whose mission is to provide tools to business angels in order for them to be improve investments and ensure that requirements in early-stage development are met.

With its network of partners--including the Luxembourg Chamber of Commerce, Luxinnovation and Lux Future Lab, among others--it also lobbies with key stakeholders to improve prospects in their domain.