17/10/2024
Following the call for applications launched last June, during the graduation ceremony of the startups that
successfully completed the 14th edition of the Fit 4 Start programme, no less than 420 applications from startups from nearly 70 different countries were submitted. Luxembourg, Germany, the United Kingdom and France are the most represented countries among all the applicants.
During the 2024 edition of the Luxembourg Venture Days, 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.
Digital
HealthTech
Space
With more than 420 applications received for this edition of Fit 4 Start #15, 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."
"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 audience.
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.
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.
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."
