Genk is a vibrant city located in the province of limburg belgium with a population of approximately 66000 people historically the city was known for its coal mining and heavy industry but in recent years it has undergone a transformation into a hub for innovation and entrepreneurship genk has a rich history of entrepreneurs in the area with many local businesses and startups founded by families who have been in the city for generations in recent years genk has become a leader in sustainable innovation with a focus on clean technology and circular economy the citys geography which is surrounded by forests and has a river running through it also provides an ideal environment for outdoor activities and ecotourism the city is home to several top universities including hasselt university and ku leuven campus kulak kortrijk these universities have helped to foster innovation in the city and provide startups with access to talent and resources notable companies headquartered in genk include punch powertrain which develops and manufactures components for hybrid and electric vehicles and ontoforce a software company that specializes in search and analysis of big data the city also has a thriving startup scene with companies such as citymesh which provides wireless internet solutions and solarpower europe which develops solar energy solutions genk has a minimum wage of 18420 per month the citys unemployment rate was 64 in december 2021 which is lower than the belgian national average of 74 genk has a high proportion of undereducated communities and a high youth unemployment rate 27 the citylevel gdp for genk was 35 billion in 2018 according to data from statistics belgium the city has a dynamic rate of new companies starting and ending with many new businesses launching each year however genk faces some challenges including a shortage of affordable housing and high taxes which can make it difficult for startups to attract and retain talent overall genks startup scene is thriving due to its strategic location innovative culture and supportive business community with continued investment in local universities and innovation hubs the city is poised to remain a leader in sustainable innovation and entrepreneurship