Fit 4 Growth, how does it work?
Fit 4 Growth is a subsidised programme designed and offered by Luxinnovation, cofunded by the Ministry of the Economy, which helps CEOs of SMEs to:
- improve / innovate their business model, product-service, operating model and customer experience
- develop their internal capacity to innovate.
Who can participate in Fit 4 Growth?
Any small and medium-sized enterprise (SME)
- established in Luxembourg,
- which is not classified as an “undertaking in difficulty” and which has a company authorisation issued by the SME Department of the Ministry of the Economy. (Warning, certain fields of activity are not eligible!)
- that wants to take advantage of information technology.
Am I an SME?
Yes, if I have:
- less than 250 employees,
- less than 50 million euros in turnover or less than a total of 43 million euros on the balance sheet.
Please note that if one of your shareholders is a company that holds more than 25% of your share capital, this information will also be taken into account when calculating the scope of eligibility.
More information on page 15 of the “User’s Guide for the Definition of SMEs” published by the European Commission.
Am I an undertaking in difficulty?
Yes, if more than half of the subscribed share capital has disappeared as a result of accumulated losses.
When can I participate in Fit 4 Growth?
The Fit 4 Growth program is always open for applications. You can submit your application at any time during the year.
Luxinnovation is assisted in this task by innovation consultants who have extensive experience of such projects.
