Your business is working well, but you feel like you could do better? Does your company seem disorganized? Do your internal procedures sometimes result in slowdowns or negative feedback?
Operational performance can be expressed in different ways. It reflects the fluidity and coherence of a company’s operations. Poor internal organization, disorganized financial management or poor customer management are detrimental to a company’s operational performance and can cause it to lose money.
The Fit 4 Innovation program allows executives to take a step back from their company’s operational performance, and put in place measures to gain competitiveness in order to prepare to take innovative steps forward.
What is Fit 4 Innovation?
- The neutral external opinion of an expert in business performance and organization;
- A 360° diagnosis of your company’s current operations;
- A personalized and costed action plan that can benefit your company;
- Dedicated support from a Luxinnovation approved consultant;
- Public aid from the Ministry of the Economy to cover part of the costs incurred;
- A return on investment of at least 100% at the end of your project.
Who can participate in Fit 4 Innovation?
To be eligible, a company must:
- Be classified as an SME according to the criteria of the European Union
- Not be classified as an undertaking in difficulty
- Be based in Luxembourg
Fit 4 Innovation, how does it work?
1) Send your application to Luxinnovation
– Choose the certified consultant who will accompany you
– Contact Luxinnovation to complete your application together
2) When your application is validated by Luxinnovation
– Send your completed application to the Ministry of the Economy
– The diagnosis can start with the chosen consultant
– At the end of the diagnostic, the consultant will give you a report validated by Luxinnovation
– You can request payment of the public subsidy covering the diagnostic costs
– If you wish, you can continue with the implementation of the action plan proposed by the consultant
Frequently asked questions about Fit 4 Innovation
How do I choose my Fit 4 Innovation consultant?
Contact Luxinnovation, we will be happy to help you make your choice.
What is the amount of the state subsidies related to Fit 4 Innovation?
The Ministry of the Economy will pay 50% of the costs incurred for the diagnostic phase, and 25% of the consultancy costs for the implementation phase.
What is an order of magnitude budget for a Fit 4 Innovation project?
The diagnostic phase is limited to 15.000€. The size of the implementation phase depends on each project, and can range from 50k€ to 300k€ in addition to internal company resource costs.
When can I participate in Fit 4 Innovation?
The Fit 4 Innovation program is open on an ongoing basis. Applications can be submitted at any time during the year.
