(centre) Sasha Baillie, CEO of Luxinnovation;
Credit: Luxinnovation/Sophie Margue
Following a selection and pitching process held in autumn 2022, fifteen startups from 42 countries were selected to participate in the thirteenth edition of the Fit 4 Start accelerator programme in Luxembourg; ten of which successfully completed the acceleration programme run by Luxinnovation.
The Graduate Showcase 2023 of the Fit 4 Start programme highlighted, in the presence of Luxembourg’s Minister of the Economy, Franz Fayot, the ten startups that successfully completed the thirteenth edition of the startup acceleration programme run by Luxinnovation. This thirteenth edition supported startups in two categories: healthtech and digital / data-driven ventures.
The ten startups that graduated at the end of this edition received six months of specialised coaching, as well as €50,000 pre-seed funding each from the Ministry of the Economy in case they choose to incorporate their startup in Luxembourg. Companies that succeed in raising funds and employ at least two people can receive up to an additional €100,000 in state aid.
"Once again, we have greatly appreciated the quality of the startups participating in this new edition. We are also impressed by the enthusiasm and motivation of all the entrepreneurs, who have continuously progressed and given their best," commented Sasha Baillie, CEO of Luxinnovation. "More than ever, the way in which data is analysed, processed and exploited represents a major economic and societal challenge. This offers numerous opportunities not only for our day-to-day health, but also for the development and competitiveness of businesses and the strength of our economy."
The Ministry of the Economy initiated the Fit 4 Start acceleration programme in 2015 and it is now managed by Luxinnovation in collaboration with Technoport, the Luxembourg Space Agency (LSA), the Luxembourg City Incubator, the Luxembourg House of Financial Technology (LHoFT) and LuxProvide.
"Another intense six-month coaching phase has come to an end, and we're extremely proud of the achievements and progress our innovative, technology-intensive and data-driven companies have made," says Sven Baltes, Senior Advisor – Startup Acceleration. "The extraordinary support provided by the Fit 4 Start coaches, experts, mentors, jury members and programme partners certainly played a crucial role in all this. In addition, Luxembourg's startup ecosystem in general is an incredible asset for acceleration and it's great to see our 'Fit 4 Starters' taking full advantage of it."
At the ceremony, Minister Fayot said: "So far, Fit 4 Start had a strong impact on Luxembourg's international reputation as a dynamic startup hub. Since the launch of the programme, we have received over 2,600 applications from startups from all over the world – this represents an amazing number of talented entrepreneurs who have expressed their wish to develop their companies in Luxembourg."
Minister Fayot also announced that the call for applications is open for the fourteenth edition of the Fit 4 Start programme. It will close at noon on Monday 14 August 2023. A total of 20 startups will be selected in three categories: digital, health technologies and space.
