Monday, September 24, 2018

Luxembourg's ^#@*&! Space Agency and Fund

This is a couple weeks old but we've been keeping track of  the goings-on in the Grand Duchy for quite a while (some links below) and thought this should be on the blog.

From Space News, September 13:

Luxembourg establishes space agency and new fund
The government of Luxembourg continued work to expand its role in the global space economy Sept. 12 by formally establishing a national space agency, a move designed in part to ensure the effort continues after an upcoming election.

In a ceremony in Luxembourg City, √Čtienne Schneider, deputy prime minister and minister of the economy, formally announced the creation of the Luxembourg Space Agency. The agency will be led by Marc Serres, previously the head of space affairs at the Ministry of the Economy.

Unlike traditional national space agencies, which support spacecraft missions and scientific research, the Luxembourg Space Agency will focus primarily on building up the country’s space industry as well as supporting education and workforce development.

Schneider noted that Luxembourg’s recent efforts, most notably the SpaceResources.lu project to attract companies working in the nascent space resources field, had led to 20 countries establishing a presence in the country. “All this is why it’s so important to me to launch today this Luxembourg Space Agency in order to professionalize our approach to this new community,” he said.

Serres said that the agency will work with a wide range of other organizations, both within the government and the private sector, to meet the agency’s goals. “The agency will be well-equipped to support industry in their daily challenges, and it leads to the most favorable environment for this sector to continue to grow,” he said, describing its four “strategic lines” as expertise, innovation, skills and funding.

That last item will include a new fund for supporting space companies. Schneider announced that the space agency will work with other government agencies and the private sector to establish the Luxembourg Space Fund, valued at 100 million euros ($116 million). The fund, according to a government statement, will “provide equity funding for new space companies with ground-breaking ideas and technology.”

Only part of the new fund will involve government money. “It will be a public-private partnership, where the government will take a share of 30 to 40 percent,” Schneider said....MORE
In more mundane Luxembourg news:
EU says McDonald's, Luxembourg tax deal not illegal

Also on the Luxembourg Channel:

Goldman Sachs on Asteroid Mining: As If Luxembourg Wasn't Insufferable Already
Luxembourg, with their #3 in the world GDP per capita (PPP) and their Jean-Claude Juncker and...
Insufferable. It's like Bono and Elevation Partners. Besides being Bono, they ran $90 mil. to $1.5 billion in Facebook.
Billion with a 'B'. As in Bono....
[re the Goldman bit]
...It's a 24 minute podcast, something one could listen to while in transit but did anyone bother to tell me about it?
No. That's why we're getting to it a year late, despite my avowed interest in becoming the world's first trillionaire.
And ignoring that Alchemist's Fallacy thing and all.

Here's ZeroHdge from April 19th (yes, they're a year late as well but how does that help moi?): 
The World's First Trillionaire Will Be A Space Miner 
Huh, I must have been crabby that day.
Anyhoo, onwards:

Dammit! Luxembourg Is Not A Microstate!
From Brilliant Maps:

The map above shows how big Luxembourg is compared to Singapore, Andorra, Malta, Liechtenstein, San Marino, Monaco, and the Vatican.


Luxembourg is 2,586.4 km2 (998.6 sq mi) with a population of 576,249, making it one of the world’s smallest states; 168th by size or 164th by population.

However, it’s still bigger than Singapore, Andorra, Malta, Liechtenstein, San Marino, Monaco, and the Vatican combined!

Here’s how big they are respectively:...MORE
Crabby that day as well.

Previously on the wonder that is Luxembourg:
What's the Scam? Why Did Deloitte Set Up Their Art & Finance Practice In Luxembourg?
Luxembourg’s Asteroid Mining Plan
Luxembourg Invests €25 million in Asteroid Mining 
Luxembourg’s Bid to Become the Silicon Valley of Space Mining
Luxembourg's New Space Mining Law Is Basically "Finders, Keepers"
"Oligarchs and Orchestras: Inside Luxembourg’s Secretive Low-Tax ‘Fortress of Art’ Warehouse"
Uh Oh: "Bail-In Blues: Luxembourg Warns of Investor Flight from Europe"
Luxembourg and Switzerland are two of the "Banking-assets-an-order-of-magnitude-bigger-than-GDP" powerhouses....
Short The Swiss (and Luxembourg)
Maybe Liechtenstein too. Never much cared for Doha either. And then there's...
errrmmm, excuse me.... 

Luxembourg-based Rare Earth Company Hoping to Mine in South Africa by 2014 Does Oversubscribed IPO in Toronto (FRO.tsx)

FREFF 0.012  0.00

For some reason posting on Luxembourg seems to bring out the worst in me.