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Renewable energy businesses have major new opportunities thanks to the Luxembourg government’s ambitious renewables policy. The goal is a fivefold increase in the country’s reliance on renewables over ten years, so that by 2020 these fuels will account for 11% of Luxembourg’s final energy consumption. The country was already nearly half way to the target by 2014, and three new major public-private partnerships will boost this figure substantially. The Government recently announced fresh investment of nearly €131m into three projects which alone will meet nearly a quarter of the country’s renewable energy needs. More needs to be done, and the Government is always willing to listen to bright ideas either within the Grand Duchy or with European partners. The three new projects are:   A total of 13 new high performance windmills are to be erected by 2017, plus eight existing mills will be replaced with more efficient installations. This project will be managed by the firm SOLER, a joint venture between the local energy companies SEO and Enovos. Total investment will be nearly €74m, producing 88 GWh of renewable energy and thus saving 58,200 tonnes of carbon dioxide emissions per year. This project will contribute to a doubling of wind power production in Luxembourg by 2017.   A new biomass cogeneration plant using non-treated wood will produce electricity (up to 52 GWh) and heat (212 GWh), sufficient for the entire energy needs of about 20,000 homes each year. This will reduce CO2 emissions by 60,000 tonnes annually. This output will be provided by the firm Kronospan, thanks to €37m public investment.   A major natural gas cogeneration plant in the capital run by the firm LuxEnergie is to be partly converted to use wood-pellets by 2017. This will reduce the need for gas imports by 8.2 million m³, and will cut carbon dioxide emissions by 20,000 tonnes each year. The Government is granting €20m for this project. “Thanks to investment totalling nearly €131m into these three public-private partnership schemes, we will both boost economic development and reduce greenhouse gas production,” explained Deputy Prime Minister, Minister of the Economy Étienne Schneider. He also announced that other national projects are being investigated, particularly in the transport sector. Talks are also on-going regarding joint support for projects in other EU countries. Read more about the Government's action plan for renewable energies.
The Luxembourg Government announced the launch of a seed fund created jointly with a group of private investors to support the financing and development of start-ups operating in the field of information and communication technologies (ICT), considered as a key sector for the diversification of the national economy. Named “Digital Tech Fund”, the fund was set-up on the initiative of the Ministry of the Economy as part of the national “Digital Lëtzebuerg” initiative. It will acquire stakes in promising innovative companies of less than seven years of age which have preferably already developed functioning prototype of their products. The fund will especially – though not exclusively – aim to invest in areas such as cybersecurity, FinTech, Big Data, Digital Health, the media and the next-generation communication networks, digital learning, the internet of things or telecommunications and satellite services. Set up according to the principle of an “evergreen fund", the Digital Tech Fund will also be aiming to facilitate the transfer of new technologies from public research, particularly from the Interdisciplinary Centre for Security, Reliability and Trust (SnT) at the University of Luxembourg. The Digital Tech Fund is managed by Expon Capital whose team was selected because of its  strong track record in investment management. The Luxembourg Government invested EUR 5 million in the Digital Tech Fund. The other investors contributed a total of EUR 15.33 million, including EUR 3 million from Société Nationale de Crédit et d'Investissement (SNCI) and EUR 1 million from the University of Luxembourg. Developed under a public-private partnership, the fund also includes the following partners (in alphabetical order): Arendt & Medernach, Banque Internationale à Luxembourg SA (BIL), Expon Capital, High Capital, POST Capital, Proximus and SES. Deputy Prime Minister and Minister of the Economy, Étienne Schneider, stated: “In meeting the financing needs of start-ups in their launch phase, the Digital Tech Fund rounds off the national ecosystem for promoting the development of young innovative companies in the field of ICT. Augmenting the existing financing instruments and government support measures such as the Fit4Start programme, the various support regimes of the Ministry of the Economy or the Luxembourg Future Fund, this new investment vehicle further enhances Luxembourg's appeal for start-ups and will help attract new innovative businesses.” Karim Michel Sabbagh, SES chairman and CEO: “Continuously developing Luxembourg, an open and interconnected economy in the heart of Europe, relies on attracting the right intellectual capital. Such highly mobile and international talent seek the best clusters of intellectual inspiration and funding – places where audacity will be stimulated. Luxembourg has a lot to offer to such talent thanks for instance to the University of Luxembourg, several government support instruments, the proximity of financial and industrial experts, and now the Digital Tech Fund. Established private companies will benefit as well as making it easier for us to attract talent and innovative ideas ourselves.” Alain Rodermann, founding partner at Expon Capital : “Our team has a combined 30 years of experience in venture capital in well-known companies and close to 50 investments in Europe and the US. As asset managers, we put our expertise to work for entrepreneurs, particularly in laying the foundations for successful international growth.” Press release by the Ministry of the Economy.  
The University of Luxembourg is ranked 14th among the best young universities in the world, according to the latest Time Higher Education (THE) 150 Under 50 Rankings 2016. The 150 Under 50 Rankings are a global list of the best universities that have been established within the last 50 years. Institutions are evaluated on 13 performance indicators grouped into five categories: teaching, research, citations, international outlook and industry income. “We are very proud to have been listed 14th in this ranking,” said University President Rainer Klump. “This confirms once more that our clear international orientation pays off. And it is our goal to become one of the future leaders in higher education.” The University of Luxembourg achieved particularly high average scores in terms of international outlook and citations. The international outlook indicator takes into account the percentage of international students and international staff as well as international collaboration in terms of research. The University currently counts 115 different nationalities among its students and 83 different nationalities among its staff members. The international orientation of the university also contributes to its high performance in other indicators, facilitating the recruitment of professors, researchers and students from all over the world and thus also increasing the quality of research and teaching. The University’s strong performance in terms of citations shows that the young institution already has a strong research capability. This indicator captures the number of instances a university’s published work is cited by scholars globally, compared to the number of citations a publication of similar type and subject is expected to have, using data drawn from 23,000 academic journals. Source: Chronicle.lu

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Luxembourg, your European e-business platform
Luxembourg, your European e-business platform
Luxembourg, your European e-business platform
Luxembourg, your European e-business platform
Luxembourg, your European e-business platform
FOCUS magazine 1 - Automotive components made in Luxembourg
FOCUS magazine 10 - Future manufacturing technologies
FOCUS magazine 2 - A thriving space industry
FOCUS magazine 3 - Environmental innovators hit the spotlight
FOCUS magazine 4 - High hopes for health
FOCUS magazine 5 - Leading the way in ICT security
FOCUS magazine 6 - Making materials smarter
FOCUS magazine 7 – A home for growth
FOCUS magazine 8 - A green Heart for Logistics
FOCUS magazine 9 - Space: Expanding the frontiers of innovation
Logistics Hub Luxembourg, Putting Europe at your fingertips
Logistics Hub Luxembourg, Putting Europe at your fingertips
Logistics Hub Luxembourg, Putting Europe at your fingertips
Logistics Hub Luxembourg, Putting Europe at your fingertips
Logistics Hub Luxembourg, Putting Europe at your fingertips
Luxembourg in Figures
Luxembourg in Figures
Luxembourg in Figures
Luxembourg, a pioneer in space
Luxembourg, a pioneer in space
Luxembourg, an attractive place for your IP assets
Luxembourg, an attractive place for your IP assets
Luxembourg, an attractive place for your IP assets
Luxembourg, an attractive place for your IP assets
Luxembourg, your automotive business partner
Luxembourg, your automotive business partner
Luxembourg, your automotive business partner
Luxembourg, your prime business location
Luxembourg, your prime business location
Luxembourg, your prime business location
Luxembourg, your prime business location
Luxembourg, your prime business location
Luxembourg, your prime business location
SurprisingLux
SurprisingLux
SurprisingLux
SurprisingLux
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