The 8th edition of Fit 4 Start will propel 10 ICT startups with a strong drive to succeed to the next level. Until 28 January, companies interested in participating in this acceleration programme managed by Luxinnovation can apply online. In the previous edition, nearly 230 applications were received from 38 different countries.
(Featured Image: Laurence Hulin, Manager of the Fit 4 Start programme and Startup Support Advisor at Luxinnovation / Image Credit © Luxinnovation)
Fit 4 Start Launched by the Ministry of Economy and managed by Luxinnovation in collaboration with Technoport and nyuko, the Fit 4 Start programme helps young innovative companies to launch their business from Luxembourg, transforming innovative ideas and the project leaders’ strong will to succeed into companies with high growth potential. Initially open only to startups in the ICT sector, Fit 4 Start now also targets companies active in health technologies.
“Since its creation in 2015, Fit 4 Start has offered intensive coaching for 16 weeks in Lean Startup, attractive pre-seed funding of up to €150,000, access to key networks and a free co-working space in a business incubator to high-potential ICT startups.”
“To enter the market and get off to a strong start, startups need quality support, adapted to their stage of development. This is what we offer them thanks to the experience of our international coaches and through the exchanges they can have with the other participants,” explains Laurence Hulin, Manager of the Fit 4 Start programme and Startup Support Advisor at Luxinnovation. “The strength of our programme lies in the fact that it combines a group approach and coaching that is personalized and adapted to each startup.”
Since its creation in 2015, Fit 4 Start has offered intensive coaching for 16 weeks in Lean Startup, attractive pre-seed funding of up to €150,000, access to key networks and a free co-working space in a business incubator to high-potential ICT startups. This mentoring and support programme for entrepreneurs and creators of innovative startups, was initiated by the Ministry of the Economy and is managed by Luxinnovation.
“I have been working with startups for almost 20 years and I have noticed that very few entrepreneurs really know their clients.”
Through several working sessions, startups are, for example, invited to reflect on all elements necessary to put together a business plan, to assess the viability of their company or to consider the time it will take them to find the necessary partners and funding.
The objective of coaching is to help entrepreneurs identify their needs and growth potential. “I have been working with startups for almost 20 years and I have noticed that very few entrepreneurs really know their clients,” says Michel Blumenthal, one of the Fit 4 Start coaches.
To be eligible for Fit 4 Start #8, the conditions for startups are as follows:
- have an innovation-oriented project;
- have incorporated a company in Luxembourg, preferably less than 12 months before the start of the programme (but the incorporation of the company is not a prerequisite for the application);
- be a team of at least 2 people, at least one of whom will work full time on the project when participating in Fit 4 Start.
Applications can be made online up until 12 pm on 28 January 2019 at www.fit4start.lu. The candidates selected to pitch for a place on the programme will be informed on 8 February 2019. A Pitching Day will be held on 28 March, ending with an official announcement of the startups that have been awarded a place in the programme.