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 |
Category |
Reorientation of business activities
– Matching/networking |
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.
Workers | Businesses | Citizens |
---|---|---|
Does not apply to workers | Applies to all businesses | Does not apply to citizens |
Actors | Funding |
---|---|
National government
Employers' organisations Company / Companies |
Companies
National funds Other |
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
Unknown
Citation
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
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