Economy and Finance
The 2024 Fit 4 Start Graduate Showcase, held at Luxexpo The Box alongside the Nexus 2050 event, celebrated 15 startups that successfully completed the 14th edition of the startup acceleration programme managed by Luxinnovation.
Following a selection and pitch process that took place in autumn 2022, 20 startups were chosen from 365 applications from 58 countries. For this 14th edition, the supported projects fell into three categories: Health Technologies, Space, and Digital.
The 15 startups that ultimately graduated from this edition benefited from specialised support for six months, as well as €50,000 each in funding from the Ministry of the Economy, provided they incorporate in Luxembourg. In addition, startups that are able to raise funds and employ at least two employees could receive up to €100,000 in state aid.
“We are excited to see how these companies will develop in the coming years and contribute significantly to the future growth of the Luxembourg startup community and beyond, to our economy and our country,” commented Sasha Baillie, CEO of Luxinnovation.
“This graduation in the Fit 4 Start programme represents a key milestone on the path to success for these young ventures, giving them the opportunity to gain visibility and connect with private investors who closely monitor such companies.”
Nearly 3,000 Applications
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 Space Agency (LSA), the Luxembourg City Incubator, the Luxembourg House of Financial Technology (LHoFT), the Luxembourg House of Cybersecurity, and LuxProvide. To date, the programme has received nearly 3,000 applications from around the world in response to its various calls.
“Fit 4 Start has become an important visibility tool for the Luxembourg startup ecosystem and is a real asset for innovative young ventures in the seed phase,” said Sven Baltes, Manager – Start-up Relations at Luxinnovation. “We will continue to support innovative ventures from Luxembourg as well as those wishing to settle in the Grand Duchy with tailored support from our Fit 4 Start experts. The objective is to integrate them sustainably into the country and to support their development and growth efforts.”
At the end of the ceremony, Sasha Baillie officially launched the call for applications for the 15th edition of the Fit 4 Start programme. The deadline to apply is 12 August 2024 at noon. A total of 20 startups will be selected in the same three categories: Digital, Health Technologies, and Space. The names of the selected startups will be revealed in October during the Luxembourg Ventures Days, where the pitch presentations of the pre-selected companies will also take place.
Communicated by Luxinnovation