French bank Crédit Agricole is to create a startup hub in Luxembourg to connect businesses at its 24 incubator “Villages” in France with larger international partners.
The [email protected] will be hosted at the House of Startups, an initiative housing the Luxembourg-City Incubator incubators (LCI), the Luxembourg House of Financial Technology (LHoFT), the International Climate Finance Accelerator Luxembourg and the Nyuko accelerator Startup Consultants, which will be inaugurated at the Dôme on 1 June.
“The Hub will be a starting point for the network’s start-ups to develop via Luxembourg, in Europe and internationally, as well as in the country's priority markets (aerospace, cyber security, fintech and assurtech, maritime, green economy, smart city),” the bank said in a statement published on Wednesday.
The Crédit Agricole villages support around 430 young companies. The bank plans to open a further 15 by 2020. Its Luxembourg structure will occupy a 300m2 space, accommodating five to ten startups.
The [email protected] forms part of an international network developed by the bank with bases in several major cities around the world, such as London, Moscow, Shanghai, Seoul and Tokyo.