Inaugurated on Thursday at the House of Biohealth in Esch-Belval, the bioincubator aims to host eight to ten spin-offs and startups in a 350 metre square laboratory.

Companies hosted there will benefit from professional business development support.

“The health technology sector is a pillar of our economic diversification strategy in which the House of Biohealth plays a key role in ensuring sustainable growth,” economy minister Franz Fayot (LSAP) said on Thursday. “Such an offer of suitable infrastructure for the accommodation of companies in the HealthTech sector is an asset in terms of attractiveness and sustainability for the national economic ecosystem.”

According to the government, in 2019 there were 136 companies in Luxembourg active in the health tech sector. In 2017, they contributed 0.35% of GDP, generating €180m of added value to the economy.

Currently 450 people work across nine companies and two public research laboratories at the House of Biohealth, which first opened in 2015. An extension, which is due to be completed in 2021, will provided an additional 5,000 square metres of space, enabling it to accommodate up to 600 researchers.

Among existing tenants are Fast Track Diagnostics, a company owned by Siemens Healthineers, which enabled the fast roll out of diagnostics technology in Luxembourg for its Large Scale Testing programme.