Following the call for applications launched last June, no less than 420 applications from startups from nearly 70 different countries were submitted to Fit 4 Start, Luxembourg’s leading startup acceleration programme. Luxembourg, Germany, the United Kingdom and France are the most represented countries among all the applicants.
The selection of participants took place at the 2024 edition of the Luxembourg Venture Days which, jointly organised by Luxinnovation and the Luxembourg Private Equity Association under the aegis of Startup Luxembourg on 16-17 October, attracted more than 2,600 participants. 60 entrepreneurs, active in the digital, health technology and space sectors, pitched during intense sessions in front of the members of the different juries. At the end of the closing ceremony of the event, in the presence of HRH the Hereditary Grand Duke, the identity of the 20 selected startups was revealed: 11 in digital, 5 in health technologies and 4 in space.
Second highest number of applications ever
“With more than 420 applications received for this edition of Fit 4 Start, we recorded the second highest participation rate ever,” explains Sven Baltes, Startup Relations Manager at Luxinnovation. “It highlights the exceptional talent of our local entrepreneurial community, as well as the international interest in the Luxembourg ecosystem.”
A new action plan for startups
“Luxembourg offers a dynamic ecosystem that we will continue to strengthen and develop. The government is committed to providing the best environment for your startups to grow, innovate and succeed,” explained the Minister of the Economy, SMEs, Energy and Tourism, Lex Delles, addressing the many entrepreneurs and investors present in the Luxembourg Venture Days audience.
The government is committed to providing the best environment for your startups to grow, innovate and succeed.
The minister also announced the launch of a dedicated startup action plan. “It will include a series of concrete measures to support startups at all stages of their development, from their early days to their growth into successful scaleups.”
These measures, which will be detailed in the coming months, notably include strengthening the role of the Technoport incubator and the Luxembourg National Research Fund in supporting the emergence of spinoffs.
Fit 4 Start participants remain in Luxembourg
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 House of Biohealth, the Luxembourg House of Cybersecurity and LuxProvide.
80% of the startups that have participated in Fit 4 Start are still present here in Luxembourg.
It consists of specialised support for a period of six months, as well as individual funding of €50,000 from the Ministry of the Economy. The companies that graduate from the programme and succeed in raising funds will be able to receive up to €100,000 in additional state aid.
“The coaching and funding offered by the Fit 4 Start programme is clearly attractive,” explained Sasha Baillie, CEO of Luxinnovation. “But it’s not just the attraction that counts, it’s also the retention! And if we look at the 14 previous editions of the programme, we see that 80% of the startups that have participated are still present here in Luxembourg. I think this confirms that the country offers a favourable environment where startups can grow, thrive and target European and international markets.”
Selected participants for Fit 4 Start #15
Digital
- Algora
- DataSecure Anti-Ramsonware by Cortex Security SA
- Elora Call
- Essembl
- LetzTrail
- MAIC OS
- Social Cooling
- Symbiotics
- TradDocs
- VizyOnAir
- Wequity
Healthtech
- Glacies Biome
- Global Particle Therapy
- Helical
- TrialCraft
- ZenZen
Space
- Aeon
- ESGSAT
- Exobiosphere
- TerraEye