First incubator launched by a bank in Luxembourg – where does lux future lab stand today?
Created 6 years ago lux future lab is an incubator for start-ups in Luxembourg City focused on supporting entrepreneurship & innovation. Its incubator and training platform ambition to impact the social and economic dynamics of Luxembourg by operating at the crossroads of change in line with the slogan of BGL BNP Paribas – “the bank of a changing world”. Linked to a major international financial group, lux future lab attracts mostly FinTech (55%) for its portfolio but also startups in sectors such as social media, internet security, healthcare, etc. Today lux future lab hosts some 30 innovative start-ups coming from as far USA, South Korea, Iran or Japan. lux future lab is honored to have incubated some great startups such as Talkwalker employing today over 150 people in offices in Luxembourg, New York and San Francisco, Mangopay taken over by Crédit Mutuel Arkea, Paycash recently acquired by Daimler Benz or JobToday – a young start-up that managed to raise 30 M € in 2016 and a media deal worth some € 35 million in 2017. lux future lab companies have created some 320 jobs in Luxembourg. Besides pure incubation activity the lab also hosts great training facilities.
What is the unique selling proposition offered by lux future lab to start-ups?
lux future lab offers high-quality facilities and services that startups need in order to grow. One main advantage for startups from lux future lab is twofold: be located at the heart of the financial sector and hosted by a major financial operator present in 75 countries and covering some of the world’s best SMEs and corporates. This indeed provides them with easy access to expertise and dedicated competencies, be it in the area of internet security, funds industry, know your customer considerations etc. lux future lab services offer is divided into 5 main areas:
- HOSTING: with well-equipped facilities located in the heart of Luxembourg City at affordable rates. Start-ups can domicile their company at our location and benefit from e-hosting services.
- TRAINING: lux future lab has a large selection of general and dedicated training programs.
- NETWORKING: BNP Paribas is everywhere startups would ever like to go. Through the BNP Paribas X-change startups can be temporarily hosted at various incubators (in Brussels, San Francisco, Paris, etc.) and connect to BNP Paribas’ world-wide network. It is also noteworthy that BNP Paribas’ Atelier has been in tech watch for nearly 40 years and its insights into latest developments in the USA or Asia are highly appreciated.
- CONSULTING: Startups incubated at lux future lab have access to lux future lab’s consulting package with some 20 specialist firms in legal, corporate finance, accounting, and marketing or intellectual property issues. These experts offer a limited number of free consulting hours, privileged access and special conditions for lux future lab startups.
- FINANCING: Members of lux future lab have not only privileged access to innovation hubs but also to a vast investor community made possible through the Group’s unrivaled network and resources. The lab works closely with VCs throughout Europe and regularly hosts pitching events. Presently, its two in-house venture capital firms, B2V and Expon, provide the start-ups with interesting insights and privileged access.
lux future lab’s aim is to be at the forefront of tomorrow’s innovations – always one step ahead! While today everybody focuses on FinTech, there are many other promising sectors, such as travel, tourism or retail markets, as well as plenty of interesting developments in terms of social innovations. Thus, lux future lab’s challenge is to detect those rising stars impacting the social and economic dynamics in Luxembourg and swiftly adapt its support to the rapidly evolving innovation market.
Communicated by Lux Future Lab