3FOOD

Third Industrial Revolution Consulting Group
microfinance offers Luxembourg concrete opportunities for financing projects in the framework
of the Third Industrial Revolution. Especially social start-ups offer innovative solutions within
the sharing economy and are based on business models that have positive social and
environmental impacts. In the context of tighter lending policies and regulation, micro- and
social entrepreneurs can be excluded from the regular credit system. Microfinance as smart
money, combining financial support with training, coaching and mentoring contributes to the
financing of the TIR.
In Luxembourg, two microfinance programs exist so far, a foundation that can be used to build
upon further:
The “Coup de Pouce” program of FUSE (Fondation des Universitaires en Sciences
Economiques 276 ) is an interest-free microcredit up to EUR 5.000 for young
entrepreneurs.
Microlux, a joint partnership between ADA 277 , ADIE 278 , EIF 279 and BGL BNP Paribas 280 is
the first microfinance institution for Luxembourg and the Greater Region. Implemented
in 2016, Microlux grants micro credits up to EUR 15,000 for business creation, “micro+”
up to 20,000 for business development and loans up to EUR 25,000 for social
enterprises. A network of experienced volunteers from the Luxembourgish ecosystem
accompanies and coaches microlux clients.
Microfinance is facilitating investment in TIR projects. Based on the model of other
microfinance institutions, such as Qredits in the Netherlands, microStart in Belgium, Adie in
France and PerMicro in Italy, microlux is expected to boost micro- and social entrepreneurship,
lower unemployment and improve job sustainability.
Proposal 5: Building a Strategic Effort
To be successful, the above-described financial mechanisms need to be accompanied by a
wholesale transformation in Luxembourg’s approach to financial education and regulatory
policies.
276 See: http://eco.lu/Lancement-officiel-de-la-2e-vague.%2023%20http:/
277 See: http://www.ada-microfinance.org/en.
278 See: http://www.adie.org/.
279 See: http://www.eif.org/.
280 See: https://www.bgl.lu/en/bank/homepage.htm
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