

Wara Samar
3rd October 2024
Luxembourg Roadshow Highlights Global MedTech Opportunities
At the Luxembourg Roadshow on 30 September, an engaging conversation unfolded under the theme “MedTech in Luxembourg: Innovating Locally, Competing Globally.” Industry experts shared insights on how Luxembourg can strengthen its position as a prime hub for both local and international investments, with a focus on legal and financial perspectives.
Key contributors to the discussion included Carole Brückler, PhD, Head of Digital Health Technologies at the Ministry of the Economy; Prof. Dr. Med. Jochen Klucken, Chair of Digital Medicine at the University of Luxembourg; Camille Saettel, Counsel in Technology, Media and Telecommunications (TMT), Healthcare and Life Sciences at Simmons & Simmons Luxembourg; and Nicolas Henckes, CEO of Hospilux. The session was steered by Hassan M. Nada, a journalist for Forbes and Silicon Luxembourg.
Here’s a breakdown of the main takeaways:
Regulatory Challenges and Compliance
The interaction began by discussing the complex regulatory landscape across Europe, particularly focusing on how Luxembourg, as a smaller country, faces significant challenges when it comes to complying with the various healthcare regulations of neighboring countries like Germany, France, and Belgium. A core point made was the need for Luxembourg to efficiently implement European Union directives without “gold-plating,” which refers to over-complicating or over-regulating beyond what is necessary.
The panelists emphasized that Luxembourg should avoid adding excessive layers of bureaucracy to existing regulations and instead focus on being quick and responsive in its regulatory processes. While other larger countries like Germany or France might take longer to implement certain health tech standards and procedures, Luxembourg could use its smaller size to its advantage by being faster and more adaptable.
Health Technology Assessment (HTA) Procedures

One of the panelists highlighted the importance of HTA procedures in determining the value of healthcare technologies and how these assessments play a critical role in reimbursement decisions across Europe. The panelists debated whether Luxembourg should adopt similar HTA procedures or simply focus on understanding and complying with those in neighboring countries. They agreed that while HTA adoption could be beneficial, the more immediate priority is ensuring that Luxembourg’s health tech companies can quickly and efficiently access neighboring markets. Providing support programs or accelerators to help navigate these regulatory landscapes was suggested as a vital step Luxembourg could take.
Accessibility and Support
Luxembourg was praised for being a pragmatic and accessible country from a regulatory standpoint. Panelists stressed that maintaining accessibility to regulators and providing ongoing support for companies operating in the health tech space is crucial for continued growth. They noted that this approach is one of Luxembourg’s most attractive features for health tech companies and should remain a core focus as the country looks to strengthen its ecosystem.
Capital Access and Financing Strategies
Panelists discussed the critical role that access to capital plays in Europe’s health tech strategy, particularly emphasizing the long time-to-market that health tech startups face due to rigorous testing and regulatory requirements. They pointed out that early-stage health tech companies require substantial financing to bridge this gap. They also suggested that Luxembourg should improve its financing options, especially for the later stages of product development, where more significant capital is often needed.
There was some discussion about public financing and the role of institutions like Luxembourg’s SNCI (Société Nationale de Crédit et d’Investissement), which was criticized for being overly conservative. The panelists argued that reforming such institutions to take more calculated risks and provide non-dilutive equity could be a game-changer for Luxembourg’s health tech ecosystem. They also touched on the importance of public-private partnerships and the need for a balance between public money and private investment.
The Venture Capital Landscape and AI
The panel discussed how Europe’s venture capital landscape is evolving, especially with disruptive technologies like artificial intelligence (AI) and precision medicine gaining traction. The panelists recognized the potential of AI in revolutionizing healthcare, but they also noted the importance of regulations like the upcoming AI Act, which aims to ensure innovation happens in a safe, transparent, and ethical manner.
There was optimism about Luxembourg’s role in fostering AI and precision medicine, especially through government initiatives like pre-seed funding competitions, which help early-stage startups get their initial footing. However, the panelists agreed that more needs to be done to integrate private capital into these efforts, as public funding alone is insufficient to scale health tech startups into regional or global leaders.
Public-Private Collaboration
Public-private collaboration was highlighted as a critical element for Luxembourg to enhance its health tech ecosystem. The panelists advocated for more seamless integration between public and private financing, with an emphasis on creating opportunities for companies to receive both public grants and private investments. This approach was seen as essential for ensuring the long-term sustainability of health tech innovations.
They also pointed out that fostering an environment where researchers and startups can take calculated risks—and even fail without severe consequences—would be crucial for encouraging innovation. Public investments should be more forgiving, with allowances for a small percentage of failed ventures, as these failures are often steppingstones to future success.
Data Interoperability and Innovation
The final segment of the panel discussion focused on the role of data interoperability in driving innovation within healthcare. Panelists emphasized that while making data interoperable across borders is vital, it is equally important to ensure that this data is used in meaningful ways to improve patient outcomes. They pointed out that the true value of data lies not in its ability to be shared but in how effectively it is used to drive evidence-based healthcare improvements.
The panelists also discussed the European Health Data Space initiative, a regulation aimed at standardizing electronic health data across all EU member states. This project is expected to foster innovation by providing healthcare companies with greater access to patient data, thereby facilitating research and development. However, the panelists noted that this regulation might not be fully implemented for another five to ten years, meaning Luxembourg will need to take interim steps to leverage existing data infrastructure for innovation.
Closing Remarks on AI, Precision Medicine and Risk-Taking
In their closing remarks, the panelists returned to the topics of AI, precision medicine, and the need for Luxembourg to take more risks in its health tech investments. They emphasized that while Luxembourg has the potential to become a leading hub for AI-driven healthcare solutions, it must overcome its conservative financial culture and be more willing to invest in innovative, high-risk startups.

The panelists also highlighted the importance of the AI Act in shaping the future of healthcare technology, particularly in ensuring that AI applications are developed ethically and transparently. This regulation was seen as a positive step toward creating a safer environment for innovation while still protecting patient data and ensuring the effectiveness of AI-driven healthcare solutions.
Conclusion
The panel concluded by affirming Luxembourg’s strong position as an accessible and pragmatic country for health tech companies but acknowledged that there is room for improvement. Regulatory efficiency, access to capital, data interoperability, and public-private collaboration were all identified as areas where Luxembourg could strengthen its ecosystem. By addressing these challenges, Luxembourg can not only attract more investments but also become a leading player in Europe’s health tech landscape.
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