Credit: Luxembourg Chamber of Commerce

The Fit 4 Start acceleration programme from Luxinnovation and the Luxembourg-City Incubator (LCI) have announced they were recognised among the top European Leading Startup Hubs 2024, unveiled in the Special Report by Financial Times and Statista.

This follows a selection process involving public calls for participation, a survey among alumni and peers, and comprehensive desk research. This recognition highlights both entities' commitment to foster innovation, support emerging businesses, and contribute to Luxembourg's thriving startup ecosystem.

The Special Report, featuring 125 awarded hubs from nineteen countries and extending 2,000 invitations to organisations, is a testament to the Fit 4 Start programme and Luxembourg-City Incubator's standing in the European startup ecosystem.

The methodology used to determine the leading startup hubs involved thoroughly analysing three key criteria: assessment by alumni, recommendations from external experts and an examination of the most successful startups. The primary criteria for identifying the leading startup hubs was the assessment by alumni who participated in at least one programme run by the respective hub.

Secondly, recommendations from external experts, including investors business angels, representatives of venture capital firms, entrepreneurs and academics, were considered. The expert opinions included an emphasis on the broader industry recognition and support for both entities.

The report also examined the most successful startups that emerged from each hub, further validating their impact on the entrepreneurial landscape. Fit 4 Start and Luxembourg-City Incubator's track record of producing successful and sustainable businesses contributed significantly to their recognition.

"We are delighted and honoured to be recognised by the Financial Times and Statista as one of the leading European Startup Hubs for 2024," said Bastien Berg, CEO of the Luxembourg-City Incubator. "This recognition underscores our ongoing commitment to providing a supportive and innovative environment for the flourishing development of startups," added Sven Baltes, Manager of startup Relations at Luxinnovation.

Launched by Luxembourg’s Ministry of the Economy and managed by Luxinnovation in collaboration with Technoport, the Luxembourg Space Agency, the Luxembourg-City Incubator, the Luxembourg House of Financial Technology and LuxProvide, the Fit 4 Start programme assists innovative young companies in launching from Luxembourg, transforming innovative ideas and the strong drive for success of project leaders into companies with high growth potential. Initially open only to ICT sector startups, Fit 4 Start now also targets companies active in health technologies and the space sector.

Powered by Luxembourg’s Chamber of Commerce, located at the House of Startups and sponsored by the City of Luxembourg, the Luxembourg-City Incubator (LCI) is a dynamic startup incubator dedicated to nurturing innovation and fostering emerging startup growth. It provides essential resources, a personalised support programme and flexible workspace, mentorship and a collaborative environment conducive to growth and success. A dedicated team and network of experts support local and international entrepreneurs.