The €20 million Digital Tech Fund illustrates Luxembourg’s unwavering commitment to its digital future. As part of the Digital Luxembourg initiative, the seed fund supports ICT startups, strengthening the country’s ecosystem. A joint public-private partnership & truly a communal effort, the fund received contributions from the government, Société Nationale de Crédit et d'Investissement (SNCI), the University of Luxembourg & many more.
A stronger startup ecosystem
The seed fund especially aims to invest in cybersecurity, fintech, big data, digital health, media & next-generation communication networks, digital learning, the internet of things, telecommunications & satellite services. Expon Capital was chosen to manage the fund due to its strong track record in growth-oriented investment management. The Digital Tech Fund will also facilitate the transfer of new technologies from public research, particularly the University of Luxembourg’s Interdisciplinary Centre for Security, Reliability and Trust (SnT), to the business world.
The audacity to innovate
The arrival of this significant fund was a welcome sight across Luxembourg & the next step in its evolution as a startup hub.
"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,” said Karim Michel Sabbagh, SES Chairman & CEO.