This partnership is the logical result of a common desire to collaborate in the creation of an ecosystem favourable to the emergence of innovative companies in Luxembourg. BIL and Technoport will supply financing tools (including loans eligible for the European Investment Fund’s InnovFin guarantee), exchange expertise to evaluate projects, provide work spaces and organising specific events around entrepreneurship. BIL is the first bank to commit itself at this level with Technoport.

“Providing finance for entrepreneurs setting up innovative businesses is central to what we do. This is a key component of the start-up ecosystem growing in Luxembourg, and we our proud to contribute to it. Joining forces with Technoport – another key component of this ecosystem – in order to help the gems of the future emerge is a win/win situation. Ultimately, it’s the national economy as a whole that will benefit,” commented Pierre-Olivier Rotheval, BIL’s Head of Innovation.

Diego De Biasio, Technoport’s CEO, highlighted the importance of the partnership: “We are delighted that BIL has decided to support us through this multi-year partnership. For structures like Technoport, it is essential to develop such synergies in order to be able to facilitate access to business expertise, and this is for several reasons. It may be to assess project applications to become part of the Technoport or to help such candidates ensure faster structuring and validation of their business projects. The discussions with BIL’s innovation department were conducted in a very natural and open manner, and the first steps have already been taken. I am confident that this partnership will generate many synergies.”

BIL is the fifth organisation to support Technoport with a senior partnership, alongside the City of Esch, ENOVOS, Paul Wurth Incub and Post Capital. This partnership represents a further development in the bank’s efforts to foster innovation and entrepreneurship. Its BIL Start support service enables start-up entrepreneurs to benefit from the various financing programmes in which the bank participates. BIL is a stakeholder in the Digital Tech Fund, recently launched by the Ministry of the Economy. In July 2015, BIL became the first Luxembourg bank to sign the InnovFin guarantee agreement for innovative SMEs as part of the European Fund for Strategic Investments (EFSI).

Press release by Banque Internationale à Luxembourg and Technoport SA