Luxembourg’s new business health technologies incubator will open in spring 2021. Hosted at the House of Biohealth in Esch-Belval, it will offer 350 m2 of laboratory space to start-ups and spin-offs during their first 2-3 years of operation.
The opening of the new healthtech incubator was announced by Minister of the Economy Franz Fayot on 21 January 2021. “The health technology sector is a pillar of our economic diversification strategy,” said the minister. “Offering suitable infrastructure for hosting relevant companies in the healthtech sector is an asset in terms of attractiveness and sustainability for the national economic ecosystem.”
Accelerating economic impact
The health technologies incubator will contribute to accelerating the economic impact of investments made to develop public research in biomedicine in Luxembourg. In addition to fully equipped laboratories, hosted companies will also be able to benefit from professional support in the field of business development.
The incubator is part of the House of Biohealth, a hosting facility with office and lab space for both established companies and start-ups in the fields of biotech, cleantech and ICT. The House of Biohealth currently hosts 9 companies and two public research laboratories that are part of the Luxembourg Institute of Health (LIH) and the Luxembourg Centre for Systems Biomedicine (LCSB). Around 450 people work in various areas such as diagnostics, medical devices and digital health.
Once the healthtech incubator has been opened, the House of Biohealth with be able to host up to 600 researchers on close to 9,500 m2 of laboratory surface and 5,500 m2 of office space.
“The House of Biohealth will be able to respond even better to the specific needs of start-ups and spin-offs, which can benefit from specific support to move successfully from the world of research to the world of business.”
Employment and investments in Research, Development and Innovation (RDI) are growing steadily.
Close to 5,000 highly qualified individuals are employed in research and development. This is equivalent to 13,4 persons per 1000 jobs. Another unique feature of Luxembourg’s economic landscape is the high percentage of service-based companies that are actively pursuing RDI activities. Indeed, more than 65% of service-based companies are involved in research, development and innovation activities (the average across sectors being 65%), whereas the share of industrial companies is 63%.