Eurofound's EU PolicyWatch collates information on the responses of government and social partners to the COVID-19 crisis, the war in Ukraine, rising inflation, as well as gathering examples of company practices aimed at mitigating the social and economic impacts.
Factsheet for measure LU-2004-40/2532 – measures in Luxembourg
|Country||Luxembourg , applies nationwide|
|Time period||Open ended, started on 01 October 2004|
|Context||Restructuring Support Instruments|
|Type||Legislations or other statutory regulations|
Reorientation of business activities
|Author||Patrick Thill (LISER) and Eurofound|
|Measure added||23 June 2022 (updated 14 November 2022)|
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:
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:
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.
|Does not apply to workers||Applies to all businesses||Does not apply to citizens|
Company / Companies
Social partners' role in designing the measure and form of involvement:
|Trade unions||Employers' organisations|
|Form||Not applicable||Not applicable|
Social partners' role in the implementation, monitoring and assessment phase:
Eurofound (2022), Business Angels, measure LU-2004-40/2532 (measures in Luxembourg), EU PolicyWatch, Dublin, https://static.eurofound.europa.eu/covid19db/cases/LU-2004-40_2532.html
30 January 2023
Governments across the EU continue to implement policies to support citizens and businesses in the face of rising food and energy prices caused by the COVID-19 crisis and intensified by the war in Ukraine. This article summarises the policy responses as reported in Eurofound's EU PolicyWatch database from January to September 2022.Article
12 September 2022
Although the worldwide pandemic situation had already disrupted supply chains and triggered increases in energy and food prices in 2021, the situation deteriorated in 2022 with the Russian invasion of Ukraine.Article
12 September 2022
This article summarises the first policy responses that governments across the EU have started to implement to support companies affected by the rising prices, and those with commercial ties to Ukraine, Russia or Belarus.Article
5 July 2022
This article summarises the first policy responses of EU Member States, including those of the social partners and other civil society actors, enabling refugees to exercise their rights under the Temporary Protection Directive.Article
Disclaimer: This information has not been subject to the full Eurofound evaluation, editorial and publication process.