Despite the fact that Luxembourg constitutes one of the smallest countries worldwide consisting of 660,809 residents, plenty of multinational companies, large enterprises and SMEs, as well as start-up businesses tend to choose the Grand Duchy as their basis, triggering thus the state’s actors to further reinforce entrepreneurship initiatives and to focus on businesses’ sustainability.

One of the state’s initiatives relating to the development of enterprises is called “Luxembourg-City Incubator (LCI”). This initiative was launched in 2017 and was sponsored by the City of Luxembourg with the aim to give the opportunity to companies and early-stage start-ups to use the coaching and support programme offered by the LCI in order to foster innovation for their enterprises and to strengthen their entrepreneurial potentials.

Embracing contemporary and thriving sectors, such as the environment, urban tech, construction and real estate, tourism, retail, and logistics, LCI intends to align companies with the current labour market needs in Luxembourg, to accelerate their growth and to expand their network in order for them to guarantee more business opportunities. In this context, more than 150 start-ups took advantage of the coaching and support programme and used them as a springboard to thrive in a competitive entrepreneurial environment. To this extent, NOVEL Group contributes to this business incubator system by developing business strategies and undertaking the entire process of companies’ development.