It is that time of the year again! Applications for the Fit 4 Start Program, Spring 2019 Edition are open. For those who haven’t heard about the last seven editions, Fit 4 Start is an acceleration program dedicated to high-potential ICT innovative startups, with access to up to €150,000 in pre-seed funding. To the last edition (Fall 2018 program), Luxinnovation received 230 applications (ICT and HealthTech) from 38 countries. This time, a total of 10 startups will enter the program. We have met up with Stéphanie Silvestri, Advisor Startup Support at Luxinnovation, to tell us about their ambitions for this 8th edition.
(Featured Image: Stéphanie Silvestri, Advisor Startup Support at Luxinnovation / Image Credit © Luxinnovation)
What do you expect from this 8th edition?
Over the years, Fit 4 Start has become a local and international reference for startups that intend to set-up their companies in Luxembourg and scale their business. In this 8th edition, we are, more than ever, looking for ICT Startups offering innovative and disruptive solutions, with a potential perfect fit into the market. The previous years have shown an amazingly good quality of applications, and we certainly hope that this year doesn’t disappoint!
The 7th edition was a pilot edition. On top of the 10 ICT startups, 5 other startups specialized in HealthTech were also selected. HealthTech startups won’t be targeted for this 8th edition, as we first want to see how the pilot edition works out in practice. We are confident that it will succeed, resulting in further good news for this sector in the future.
“Startups have access to a grant of up to €150,000, with an initial payment of €50,000 that can be topped up with an additional €100,000.”
Why should startups apply to F4S?
The Fit 4 Start Program comes with major benefits. One of the main tools given to the startups is an intensive coaching during 16 weeks. This coaching is tailor-made to the startups, adapting to their specific needs and stages of development.
During the program, startups get crucial and essential feedback from coaches and jury members. Getting creative and valuable thoughts on their business models will certainly help them develop properly in accordance with the market needs.
On top of advising, startups have access to a grant of up to €150,000, with an initial payment of €50,000 that can be topped up with an addition €100,000 for startups that successfully graduate from the Fit 4 Start program and raise €50,000 in private equity after the program. A soid pre-seed funding for attracting startups from around the globe that want to start doing business in Luxembourg.
“The ICT infrastructure made available for ICT startups in Luxembourg is really outstanding. It’s the key to scale up to the next level!”
Why is Luxembourg a good place to launch a startup and innovate?
Although a young ecosystem, Luxembourg is an attractive and growing place for startups. Entrepreneurs can benefit from support from the government and various big players. Because of Luxembourg’s small size, heavyweights can act together, giving startups direct access to key decision makers.
The ICT infrastructure made available for ICT startups in Luxembourg is really outstanding. It’s the key to scale up to the next level!
You won’t want to miss this opportunity. Interested startups should submit their application on the Fit 4 Start website before the 28th January 12.00 am CET.
Interview by M.F.
