Luxembourg launches business-focused national space agency

The Luxembourg Space Agency (LSA) has officially launched operations with the goal of promoting the further economic development of the Grand Duchy´s space industry by attracting businesses, developing human resources, providing innovative financial solutions and supporting educational and research infrastructure, the company said.

Under the authority of the Ministry of the Economy, the agency is partnering with national academic, research and business organisations and communities as well as other public institutions within Luxembourg´s extensive ecosystem of public- and private-sector stakeholders.

To fund space innovation, the Luxembourg Space Agency is establishing with other partners a venture capital vehicle to be established as a reserved alternative investment fund, with financial backing from the public sector as well as private investors. The Luxembourg Space Fund targets an initial 100 million EUR in capital, its goal is to provide equity funding for new space companies with ground-breaking ideas and technology.