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The Luxembourg House of Financial Technology (LHoFT) Foundation has announced the launch of Catapult: Green Fintech, an innovative acceleration programme dedicated to fostering the growth of fintech startups specialising in sustainable finance technologies.
As LHoFT explained in a press release, this inaugural edition, taking place from Monday 16 to Friday 20 September 2024, "aims to empower emerging companies to develop groundbreaking solutions that will drive forward the green finance agenda in Luxembourg and beyond".
Sponsored by Luxembourg's Ministry of Finance and co-facilitated by the Luxembourg Sustainable Finance Initiative (LSFI), Catapult: Green Fintech will bring together ten fintech companies from diverse locations. Selected for their "groundbreaking" solutions in Green Finance & Investment, Environmental Measurement, Sustainable Financial Regulation, and Green Finance Data & Reporting, these companies will participate in an intensive week-long bootcamp focused on accelerating growth.
The programme, centred on the three key pillars of impact, scaling and funding, offers participants access to leaders, investors and professionals within Luxembourg’s green finance ecosystem. Participants will also attend the annual LSFI Summit, where they will gain insights and networking opportunities and join specialised sessions on private investment mobilisation, human rights, stewardship and biodiversity. Additionally, the programme provides support through workshops, expert talks, personalised mentoring, pitching sessions and mentorship engagements.
Nasir Zubairi, CEO of the LHoFT, commented: "We are excited to launch the Catapult: Green Fintech programme, aligning with Luxembourg's strategic vision of becoming a global leader in sustainable finance. This initiative not only fosters innovation but also contributes to the global effort in addressing climate change through financial technology. We look forward to working with the ten selected firms to drive value for Luxembourg's financial services centre".
From 16 to 20 September 2024, the LHoFT in Luxembourg-Bonnevoie will open its doors to this group of companies that have already demonstrated product-market fit and gained initial market traction.
The ten selected fintech companies are coming from France, Luxembourg, the Netherlands, Sweden, Switzerland and the United Kingdom. Participants will engage in expert-led sessions delivered by leaders from Luxembourg's sustainable services ecosystem, gaining insights and practical knowledge. The week culminates in a final pitch, where participants will present their innovative solutions to a jury of experts in sustainable finance and impact investing, providing a platform to showcase their advancements and secure potential investment.
Over the course of three years post-programme, these companies will share ongoing performance metrics, enabling the evaluation of the initiative's lasting impact and success, added the LHoFT.
Nicoletta Centofanti, CEO of the LSFI, stated: "The shift towards sustainable finance is essential to tackle today’s social and environmental challenges. However, this transformation presents several obstacles for the financial sector, requiring the development of new skills and the adherence to fast-evolving regulations. Fintech plays a crucial role in supporting these changes, boosting the adoption of innovative practices that are now very much needed, particularly in areas like data collection, processing and reporting. The Catapult: Green Fintech programme is a unique initiative that will greatly benefit Luxembourg's financial centre, enabling us to develop new solutions and pioneer in sustainable finance and greentech."
