Following the Fit 4 Start call for applications that took place this summer, 356 start-up applications nearly 60 different countries were received. At this stage, Luxembourg, the United States, Germany, India and Spain were the most represented countries among the applicants.
During the Luxembourg Venture Days, 65 start-ups active in the digital, healthtech and space sectors pitched during two intense days. In the end, the jury selected 11 in the digital sector, 5 in healthtech, and 4 in space:
"Once again, the quality was high," says Sven Baltes, Senior Advisor - Start-up Acceleration at Luxinnovation. "The increasingly significant presence of entrepreneurs from abroad demonstrates how this programme has become renowned beyond our borders in just a few years. This is the well-deserved reward for intensive collective work, coordinated by Luxinnovation, along with jury members, coaches, industry experts and various partners."
Initiated in 2015 by the Ministry of the Economy, the Fit 4 Start acceleration programme is managed by Luxinnovation in collaboration with Technoport, the Luxembourg City Incubator, and the Luxembourg Space Agency. It involves specialised support over a six-month period, as well as individual funding of €50,000 from the Ministry of the Economy. Companies that complete the programme and manage to raise funds can receive up to an additional €100,000 in state aid.
The increasingly significant presence of entrepreneurs from abroad demonstrates how this programme has become renowned beyond our borders in just a few years.
"Fit 4 Start has been highlighted in the government's roadmap 'From Seed to Scale' as one of the cornerstones of the Luxembourg environment for early-stage start-ups," says Sasha Baillie, CEO of Luxinnovation. "But the government has also identified the need to address the next step, namely the need to help the most promising young companies succeed in their growth phase. Therefore, at the request of the Ministry of the Economy and in partnership with all ecosystem experts, we are preparing a tailor-made program to support companies in their development up to the scale-up level. We hope this pilot project will be operational at the beginning of next year and will gain the same strong reputation as Fit 4 Start, propelling our ecosystem to new heights."
© Luxinnovation/Sophie Margue
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