Luxembourg’s Fintech Innovation Hub will run two acceleration programs dedicated to financial inclusion in Africa and to the traditional finance industry. They will start in May and June 2021 respectively. A total of 25 Fintechs will be selected. Applications are now open.
Photo: In addition to the acceleration bootcamps, five fintechs will receive €50.000 in subsidies from the Luxembourg Ministry of the Economy / Credits © The LHoFT Foundation
The LHoFT Foundation, a public-private sector initiative that drives technological innovation for Luxembourg’s financial services industry, launches its 2021 CATAPULT edition with two acceleration programs dedicated to Fintech development: CATAPULT: Inclusion Africa and CATAPULT: Kickstarter.
These projects have been developed by the Luxembourg House of Financial Technology in collaboration with the Ministry of the Economy and the Ministry of Foreign and European Affairs’ Directorate for Development Cooperation and Humanitarian Affairs and are supported by key strategic partners.
15 Fintechs for Africa
CATAPULT: Inclusion Africa will support 15 inclusive finance ventures focusing on financial inclusion in Africa. The program aims to build bridges between Africa and Europe and to highlight Fintechs’ initiatives that are aligned with the sustainability goals of Luxembourg’s finance center.
The one-week acceleration bootcamp will start in May 2021 and will include both online training and networking sessions. The winner of this edition will join an in-person condensed 3-day-program at the Luxembourg Pavilion of the World Expo in Dubai in early December 2021 (public health guidelines permitting).
After two successful bootcamps in 2018 and 2020, CATAPULT: Inclusion Africa now includes a community of 24 Alumni companies. Half of them have raised funds or concluded major strategic partnerships following the program.
10 Fintechs from around the world
CATAPULT: Kickstarter 2021 is a brand-new program developed by the LHoFT Foundation in collaboration with the Ministry of the Economy. The program builds upon the success of CATAPULT: Inclusion Africa.
It supports 10 Fintechs from around the world that specialise in Regtech, Wealthtech, Insurtech and Cybersecurity using Blockchain, AI and Big Data technologies that provide tools to traditional financial services firms to digitize their businesses (B2B) or develop new and improved services direct to customers (B2C).
The program aims to support these Fintech entrepreneurs during the early stages by developing their business models. Among the ten selected, five Fintechs will receive €50.000 in subsidies from the Luxembourg Ministry of the Economy, providing they fulfil the eligibility criteria.
“CATAPULT: Kickstarter 2021 aims to enhance Luxembourg’s startup ecosystem by enabling young innovative companies to partner with the financial services industry,” says Franz Fayot, Minister of the Economy and Minister for Development Cooperation and Humanitarian Affairs.
Companies must comply with the European definition of a small enterprise and must have been incorporated within the last five years at the date of receiving the subsidy.
The four-week acceleration bootcamp starting in June will include digital classroom tutorials, expert talks, pitching and mentorship sessions as well as networking events. It will be followed by an in-person event (public health guidelines permitting) in November 2021.
What you need to know
CATAPULT: Inclusion Africa
- What: One week acceleration bootcamp
- Target: 15 Fintech companies, technology agnostic, focusing on financial inclusion in Africa and Europe.
- Date: May 18th to 28th, 2021
- Application call open until April 30th, 2021: click here.
- What: Four week acceleration bootcamp
- Target: 10 B2B Fintech firms with solutions in Regtech, Wealthtech, Insurtech and Cybersecurity using Blockchain, AI and Big Data technologies.
- Date: June 1st to 25th, 2021
- Application call opened until May 14th, 2021: click here.