Business | News

Date : 21/02/2018

Startup World Cup Luxembourg: a great evening, but with difficult choices

Last week, on March 22nd, the second regional edition of the Startup World Cup challenge took place in Luxembourg. Several teams from various countries took part with the aim of winning a place at the Startup World Cup Final to be held in San Francisco on May 11th. Our CEO, Edith Magyarics, was a member of the jury. Here, she shares a few thoughts and feelings about the event, and more generally the startup ecosystem within Luxembourg.

A great evening, but with difficult choices

There were 14 pitches from across various industries, and all promoting very different projects. Choosing among the initiatives was a difficult yet interesting exercise. The different ideas were all evaluated according to their relevance versus market demand, their creativity, the quality of their presentation and business plan, and finally their vision on how best to utilise the $1 million funding prize. Debate among the jurors was rich and intense, and we finally settled upon Largowind - a startup aiming to minimise the risk of nautical accidents posing both a danger to craft and the environment.

 

More than a competition, a promotion of innovation

Three years ago I joined other members of FEDIL1 on an official visit to Silicon Valley. It was a real eye opener – not only in terms of what gets done, but learning how things are done, the culture and the entire start-up ecosystem which exists.

There are various initiatives in Luxembourg aimed specifically at supporting this ecosystem and creating an environment tailored towards startups, nurturing ideas, and marketing Luxembourg as an attractive, welcoming business environment – and we should all be actively involved in their promotion. It’s for these reasons I had no hesitation in accepting the invite to become a member of Luxembourg’s Startup World Cup jury.

Victor Buck Services also actively participates in supporting the innovative Luxembourg business community. We are operating within a period of unprecedented dynamism and growth and there are numerous organisations doing very good work to help move things even further forwards. I feel we can be very optimistic about the future of innovation in Luxembourg.

Initiatives like the Startup World Cup challenge are to be welcomed and supported. I wish Largowind the very best of luck and success when competing at the Grand Final in California on May 11th. The competition will undoubtedly be fierce, but Luxembourg will be well represented.

 

1. FEDIL (Fédération des Industriels Luxembourgeois) is a multisectoral business federation created to help foster Luxembourg’s entrepreneurial economy

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