After launching the Fit 4 Start aid programme in October 2015, the Ministry of the Economy, alongside Luxinnovation and Technoport, held a ceremony on Thursday 3 March 2016, to present the two start-ups who completed the pilot edition of the programme.
The programme was launched as a means of facilitating young innovative enterprises starting out in the ICT sector. Companies receive 50,000€ in way of financial support, as well as collaborative workspaces, an incubator and specially-adapted coaching to cater to early-stage needs.
On Thursday, Technoport's premises in Esch-sur-Alzette hosted a ceremony presenting the first two start-ups to pass the pilot edition: Houser, a real estate comparison and analysis platform; and Sport50, a management platform for sports associations.
"The Ministry of Economy wants to further improve the starting conditions for innovative start-ups in the field of ICT," commented Secretary of State for the Economy, Francine Closener, as she congratulated the companies and graduates at the ceremony. "Accordingly, we have decided to grant additional assistance of 100,000€ to each start-up having successfully completed the very selective 'Fit 4 Start' programme, provided that the graduate business raise at least 50,000€ of private funds."
A jury consisting of experienced entrepreneurs selects five of the most promising start-ups amongst the companies vying for a place. To be eligible, the selected start-up must be less than twelve months old and consist of at least two people.
"The first call for projects launched in january 2016 attracted muh interest, and we received 100 applications," commented Antoine Hron, Fit for Start Programme Manager at Luxinnovation. 80% of these arrived from the Greater Region, while the rest originated from more distant locations such as the UK, Switzerland, Turkey and India. Mr. Hron continued: "In addition to the sheer number, the quality of the projects really amazed us. We were not aware of there being such a latent potential, and this strengthens out belief that Luxembourg is well positioned to attract start-ups."
The 20 most interesting candidate were invited in February to pitch their projects to an expert panel, with five setting themselves apart from the others and therefore invited to be part of the next edition: Connected Rope, Evvos, Klap, Nomoko and Visual Scaffolding. These new participants will be starting their 16-week coaching programme at the end of March and will receuve a grant of 50,000€ from the Ministry of the Economy.
Photo by MECO
