Your new post is loading...
Luxembourg is to create an investment fund for space sector operations, with a first closing planned before the end of the year, according to a government source.
Speaking on the sidelines of the ICT Spring & Space summit on Wednesday, Luxembourg space affairs chief Marc Serres told Delano that financing was one of the department’s five pillars since companies active in the space sector “need money to work.”
“We thought it would be good to have such an instrument in Luxembourg so we’ve a complete eco system where we can address all the needs of the companies going from skilled people through education, also support from researchers, university and such organisations R&D in a company, also capital finance,” Serres said.
The fund would be a public private initiative, with the state as anchor investor and private investors running it. If successful, the fund would likely attract further space companies to a country where the sector already generates around 1.8% of GDP. According to Serres, much of this comes from SES, the satellite operator which was created in 1985 on the initiative and with the support of the Luxembourg government.
5% of GDP
Economy minister Etienne Schneider has in the past floated his vision to bring that figure to 5%. “It’s still a big effort. If we want to more than double, we need to find maybe a new SES or several, smaller SESs”, Serres said.
Learn more / En savoir plus / Mehr erfahren:
https://www.scoop.it/t/luxembourg-europe/?&tag=Space
Luxembourg is to create an investment fund for space sector operations, with a first closing planned before the end of the year, according to a government source.
Speaking on the sidelines of the ICT Spring & Space summit on Wednesday, Luxembourg space affairs chief Marc Serres told Delano that financing was one of the department’s five pillars since companies active in the space sector “need money to work.”
“We thought it would be good to have such an instrument in Luxembourg so we’ve a complete eco system where we can address all the needs of the companies going from skilled people through education, also support from researchers, university and such organisations R&D in a company, also capital finance,” Serres said.
The fund would be a public private initiative, with the state as anchor investor and private investors running it. If successful, the fund would likely attract further space companies to a country where the sector already generates around 1.8% of GDP. According to Serres, much of this comes from SES, the satellite operator which was created in 1985 on the initiative and with the support of the Luxembourg government.
5% of GDP
Economy minister Etienne Schneider has in the past floated his vision to bring that figure to 5%. “It’s still a big effort. If we want to more than double, we need to find maybe a new SES or several, smaller SESs”, Serres said.
Learn more / En savoir plus / Mehr erfahren:
https://www.scoop.it/t/luxembourg-europe/?&tag=Space