New space agency, not much sharing, Lombard gains

Luxembourg’s government will launch a new space agency and space investment fund by October 2018. Étienne Schneider, the deputy prime minister, made the announcement during a “space event” hosting by Luxembourg officials at Nasa’s Ames Research Centre, in Silicon Valley, on Wednesday evening. That was the third day of a space trade mission to America’s west coast. The space agency will include both industry experts and financial analysts who will assess the commercial potential of projects put forward for government funding.
During the fourth and final day of Luxembourg’s space trade mission, the delegation will return to Nasa’s Silicon Valley site. The group, led by Crown Prince Guillaume and Schneider, tours the Nasa Frontier Development Lab, “an artificial intelligence accelerator”. Also on Thursday, the delegation visits the 40 year old Seti Institute; Seti stands for the “search for extra terrestrial intelligence”.
Docler Holding and Luxinnovation have named the 17 contestants in the 3rd “Pitch Your Startup” competition. Last year’s winner was Sesamm and Wondermags won in 2015. This year’s edition takes place during the ICT Spring conference on 9 May.
Sharing economy platforms, such as Uber, represent roughly 0% of Europe’s GDP, compared to 0.6% in the US, according to the Idea Foundation, a thinktank backed by the Luxembourg Chamber of Commerce. “It is important not to be overwhelmed by the concept and to remember that its impact is still uncertain,” said Sarah Mellouet, an economist at the organisation. She spoke at press conference on Wednesday presenting the Idea Foundation’s annual economic outlook. The thinktank called for clear regulation of the sector in Luxembourg.
The life assurance and wealth planning firm Lombard International, which is co-headquarters in the US and Luxembourg, ended last year with €4.5bn in new premiums. Assets under management rose 8% between 2015 and 2016, to €77.5bn. The insurance firm recently acquired the Luxembourg operations of Zurich Eurolife and set up operations in Bermuda, Brussels and Hong Kong.