Posted by Tom Foremski - July 12, 2011
Plug and Play has managed to build a very good brand associated with SIlicon Valley innovation. Today, a high profile delegation from Luxembourg visited to conduct a ceremony of signing a Memorandum of Understanding.
Signing ceremonies are very important to dignitaries. In the delegation:
H.R.H. Crown Prince Guillaume de Luxembourg
H.E. Jeannot Krecké, Minister of the Economy and Foreign Trade Ministry of the Economy and Foreign Trade
Mr. Georges Schmit, Consul General of Luxembourg Consulate General of Luxembourg, San Francisco
Mr. Patrick Nickels, Director of Industry Ministry of the Economy and Foreign Trade
Ms. Patrizia Luchetta, Senior Advisor Life Sciences Ministry of the Economy and Foreign Trade
Ms. Anne-Catherine Ries, Senior Advisor ICT & Media Ministry of State
Mr. Luc Decker, Advisor Economic Development Ministry of the Economy and Foreign Trade
Lt. Tom Pesché, Aide de Camp to H.R.H. Crown Prince Guillaume de Luxembourg Grand Ducal Palace, Luxembourg
It all has to do with this:
Luxembourg is a carefully selected home base for this exciting initiative. Luxembourg is a small yet dynamic country in the center of the European Union that has been historically recognized for its successful innovations in the field of industry, e-business and finance and its welcoming attitude towards US companies over the last 60 years.
Due to Luxembourg's high quality high-tech infrastructure, favorable business framework, qualified pool of engineers and responsive government, some of the largest global high-tech companies such as iTunes, PayPal, Skype, SES ASTRA etc. have established European headquarters in Luxembourg. At the same time, Luxembourg is officially home to most of the recently established and important funds in Europe. As the second most important global center after the US, Luxembourg represents 27.4% of European market with net assets over 2.1 trillion and houses approximately 74.6 % of all cross-border funds in Europe.
PwC has helped to set up an "accelerator" where European entrepreneurs can achieve "in one month what would have taken six months in Europe."