Its no surprise then thatfintechhas beenidentifiedas the tech sector with the greatest growth potential in the region.
The National Research Fund has allocated 200mn toAIresearch projects over the past five years.
To help power these advancements is Meluxina, one of Europes most powerful supercomputers.
Well-knownsuccess storiesinclude social media analytics and monitoring toolTalkwalker,andonline jobs board JobToday.
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This diversity of thought really makes the country a special place to do business, he said.
Almost 50% of Luxembourgs workforce commute from neighbouring countries, and 80% of the population speaks English.
A 2022 report fromStartup Genomefound that startup funding deals in Luxembourg increased five-fold between 2012 and 2021.
Although it performs worse when it comes to later-stage investments.
Funded by the Chamber of Commerce, the centre houses a whopping 200 of the countrys 521 tech startups.
Five startups to watch
1.
Last month, the companyraised 8.5mnin seed funding.
The startup has raised 35mn so far and is already profitable.
It currently has 110 employees across offices in Luxembourg, Belgium, Switzerland, Germany and the Netherlands.
Next Gate Tech
Next Gate Tech is a data-driven fintech that provides SaaS solutions for the asset management industry.
So far the company has raised15mn and racked in almost 8mn in revenues last year.
Story bySion Geschwindt
Sion is a freelance science and technology reporter, specialising in climate and energy.
