The Ministry of Economy is teaming up with tech accelerator gener8tor and Luxinnovation for an immersion and support program in the U.S. state. 5 startups will be selected.
Photo: Founded in 2012, gener8tor is an American startup accelerator based in Madison, Wisconsin / Credits © Jonah Brown / Unsplash
Economy Minister Franz Fayot announced the launch of a new program to support Luxembourg startups in their internationalization to the United States.
The decision follows a partnership between his ministry and the gener8tor accelerator based in Madison (Wisconsin).
Five startups will be selected in collaboration with Luxinnovation for a three-week summer digital program, including workshops, courses and mentoring, as well as exchanges with entrepreneurs, investors and large corporations.
The goal is “to establish business contacts and to check if their product is suitable for the American market,” the Ministry of Economy said in a press release.
The cooperation agreement was signed during the virtual economic mission to Wisconsin, organized from March 29 to 31 by the Ministry of Economy, in collaboration with the Luxembourg Chamber of Commerce, the Luxembourg House of Fintech (LHoFT) and the Wisconsin Economic Development Corporation (WEDC).
The objective of the economic mission is to strengthen the collaboration between Luxembourg and Wisconsin in the field of innovation and technology and to increase trade with a US state that is especially active in eco-technology, fintech and start-up innovation.
The program in Wisconsin complements two other cooperation programs dedicated to Luxembourg startups: the Startup School (San Francisco) and the Benelux Catalyst (New York).
Founded in 2012, gener8tor is an American startup accelerator based in Madison, Wisconsin, with branches in Milwaukee and Minneapolis.
It organizes support programs for startups specializing in industry 4.0, fintech/insurtech and health technologies.
Three times a year, it invests $100,000 in each of the startups, which benefit from its network of mentors, technologists, corporate partners, investors and VCs during a 12-week program.