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Factsheet for measure LU-2004-40/2532 – measures in Luxembourg

Business Angels

Luxembourg Business Angels Network (LBAN)

Country Luxembourg , applies nationwide
Time period Open ended, started on 01 October 2004
Context Restructuring Support Instruments
Type Legislations or other statutory regulations
Category Reorientation of business activities
– Matching/networking
Author Patrick Thill (LISER) and Eurofound
Measure added 23 June 2022 (updated 14 November 2022)

Background information

Created in 2004, the network is a non-profit organisation devoted to providing tools to business angels to improve investments. LBAN is a non profit association unlocking the potential of private investors in Luxembourg. LBAN's mission is to provide the appropriate tools to business angels in order to feel more confident in doing investments. The main services provided are:

  • Developing and managing a strong community of private investors.
  • Partnering with relevant actors of the local and international start-up ecosystem.
  • Lobbying towards relevant stakeholders.

Content of measure

The initiative is available to scalable and disrupting start-ups in Luxembourg. SMEs are brought together with private investors, or 'business angels', who have a high level of experience and strong business skills. The investors bring capital and expertise, gained from running their own company. With a total of over 100 members, there are subgroups, focusing on a specific sector, such as the 'space angel group' created in 2017.

This scheme has gained interest from Luxinnovation - a public-private partnership involving several ministries and employer organisations for the promotion of innovation and research in Luxembourg. The financing is provided by several actors.

The support network has gained interest from LuxInnovation - a public-private partnership involving several ministries and employer organisations for the promotion of innovation and research. The Chamber of Commerce is actively involved and also:

  • Technoport
  • Eban
  • Silicon Luxembourg

Use of measure

In 2019, the network had 70 members and invested a total of €6.9 million across more than 45 projects. In the year 2020, more than 100 angel members are participating.

LBAN invests yearly about €7 million into scalable startups of all sectors in Luxembourg and beyond. This scheme could increase investment opportunities for SMEs and bring capital to new ventures. At the same time, international expertise and working experience can help start-ups to be more efficiently launched.

Target groups

Workers Businesses Citizens
Does not apply to workers Applies to all businesses Does not apply to citizens

Actors and funding

Actors Funding
National government
Employers' organisations
Company / Companies
National funds

Social partners

Social partners' role in designing the measure and form of involvement:

Trade unions Employers' organisations
Role Unknown Unknown
Form Not applicable Not applicable

Social partners' role in the implementation, monitoring and assessment phase:

  • Unknown
  • Main level of involvement: Unknown



Views and reactions




Eurofound (2022), Business Angels, measure LU-2004-40/2532 (measures in Luxembourg), EU PolicyWatch, Dublin,


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