LUXEMBOURG — The towering, rusty blast furnaces of the industrial wasteland in Belval stand in stark contrast with Luxembourg’s fairy-tale image of wealth and stability. But the former industrial area about 20 kilometers south of Luxembourg City is undergoing a radical metamorphosis. Where the country’s largest steel works once spewed smoke into the sky above the French border, the government has been erecting an entire new neighborhood, aiming to position Luxembourg as Europe’s next hub for technological innovation.

Behind one of Belval’s blast furnaces, at the heart of the ambitiously named City of Science, sits Technoport, the national tech-oriented incubator. Anyone with a business idea can apply to have it evaluated there, and — if the idea is deemed viable — Technoport offers access to its sleek collaborative spaces and guidance in setting up a business plan.

Ideas take shape with a rented laser cutter or 3D printers in the Fab Lab, a digital laboratory that is part of a growing global network introduced by the Massachusetts Institute of Technology’s Center for Bits and Atoms.

Power hubs, suspended from high ceilings in the communal spaces, guarantee that the juice never runs low.