Overview
Artificial Intelligence (AI) can be considered a sub-field of computer science. Its goal is to foster the development of computers with the aim of enabling them to carry out tasks typically performed by people - in particular, tasks associated with people acting intelligently.
Nowadays, a computer can already beat the world chess champion, understand voice commands on a smartphone or be an intelligent personal assistant (eg.Siri). AI is present in many domains such as gaming, automated machine translation systems, weather forecasting, and recruitment. Computers perform tasks such as auto-pilot mode in aviation, and even as robot companions to the elderly.
During the last five years, an exponential development of AI has been seen; self-driving vehicles, robot dogs, voice recognition devices, autonomous robots delivering packages and coffee to people in large buildings, -these are all soon going to be a day-to-day reality. This pace of change will continue to increase and AI will certainly lead to important changes in the economy but also in our everyday lives.
However, this very speedy evolution worries many people and exponents in this field now feel there is a need to form professional associations.
Why AI exponents should consider Luxembourg?
Innovative companies and start-ups in Luxembourg
There is a favourable trend in Luxembourg for the development of start-ups, particularly innovative entities in the fields of Fintech or IT, but also in robotics, artificial intelligence, gaming and biotech.
The technical innovation community is very active and counts on the support of public, para-public or private organisations. Many initiatives and solutions have been set up to help such entrepreneurs establish their businesses and grow globally.
However, these measures are often not enough for start-up companies and finding investors is necessary. This can be achieved with the help of business angels and venture capital investors, who are very active in Luxembourg.
Moreover, in 2015 ,agreements were signed between the European Investment Fund (EIF) and two banks in Luxembourg in order to provide small and medium sized companies that are incorporated in Luxembourg loans totalling 111 million Euros for investments, working capital and business transfers. To be eligible, borrowers must fulfil some innovation-related criteria, but the guarantee-backed loans have very competitive interest rates, offer a high level of transparency, facilitate access to funding - at an earlier stage - and may work in conjunction with business angels or venture capital company investments.
Intellectual Property Rights - Luxembourg IP Company
All common Luxembourg companies developing intellectual property rights in the Artificial Intelligence field, like any other, are able to benefit from one of the most attractive frameworks for IPR management in Europe.
The Luxembourg tax regime can be used, for example, on any IP rights: patents, trademarks, model design, authors' copyright, internet domain names etc and it aims to encourage Luxembourg Intellectual Property (IP) companies to invest in intellectual property, and research and development (R&D), through an effective tax rate on IP income of below 6%.
There is no minimum holding period. Items can be invented or designed by their creator who can bring the IP right into the Luxembourg company.
How can Creatrust help you ?
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Creation of a start-up company established in Luxembourg
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Preparation of a business plan
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Negotiation of loans for any SMEs and Mid-caps
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Search of business angels and venture capital companies for entrepreneurs in the fields of Fintech and other information technologies or R&D
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