Sponsoring Agency: Luxinnovation
Deadline Available: Available
Deadline Date (mm/dd/yyyy): 04/15/2021
Size of the Fund: USD $50,000 to $500,000
Are you looking to take your startup to the next level? Are you an innovative startup from the ICT or Space sector? Then Fit 4 Start could be the perfect programme for you.
Launched in 2015 by the Ministry of the Economy, and managed by Luxinnovation with the support of Technoport and the Luxembourg-City Incubator, Fit 4 Start has, in a few years, become the leading programme for launching and accelerating startups in Luxembourg.
Fit 4 Start provides entrepreneurs with intense coaching, attractive pre-seed funding and access to key networks.
ICT welcomes startups that use information technology (IOT, Blockchain, Big Data, Artificial Intelligence, Machine Learning, Robotics, High Performance Computing, Cybersecurity, and Open Source Technology) at the core of their business. Domains include but are not limited to:
• Automotive & Smart Mobility
• Logistics & Supply chains
• CleanTech, EcoTech & Energy
• FinTech & RegTech
• Industry 4.0 & Manufacturing
Space vertical welcomes startups that use space technology at the core of their business. Domains include but are not limited to:
• Earth Observation
• Space Resources
• Space Security
• Space Cybersecurity
The Programme supports the Participants in getting started in Luxembourg by giving access to a grant of up to EUR 150.000 made available by the Initiator in accordance with the Law of 20 December 2019 having as objective the implementation of a de minimis aid scheme (the ’Law’).
This grant is divided into 3 tranches (2 installments and the final balance):
• a first installment payment of EUR 50.000,
• a second installment payment of EUR 80.000
• a final balance of EUR 20.000.
Other Fit 4 Start benefits
• A Programme of intensive coaching, including:
o One-to-one and group sessions by Coaches and Subject Matter Experts, as determined by the Organiser and laid out in the Programme schedule;
o Periodic follow-ups and feedback sessions from the Jury during Steering Committees.
• Free access to the co-working space of the business incubators. The Initiator and/or Organiser reserve the right to adapt the offering over the course of the programme.
• The Programme also offers many opportunities in terms of visibility within the market, and opportunities to benefit from networking facilities of the whole ecosystem that supports startups in Luxembourg.
The following conditions are applicable to startups who should:
• have an innovation-oriented project ;
• have a company which is younger than 5 years (the incorporation of the company is not a prerequisite for the application);
• be a team of 2 people minimum (no nationality constraint), at least one of whom will need to be dedicated full time when participating to Fit 4 Start.
The Programme is open to innovative projects or young innovative start-ups from around the world that meet all the following criteria:
• Company active in the sector(s) referenced in the Fit 4 Start call (such as ICT, Health Tech or any other sector of interest jointly agreed by the Initiator and the Organiser).
• Company meeting the small enterprise criteria as stipulated in annex I in the Commission regulation (EU) N° 651/2014 of 17 June 2014 declaring certain categories of aid compatible with the internal market in application of Articles 107 and 108 of the Treaty.
• There is no prerequisite for Applicants to have incorporated a company at the application stage.
• If the Applicant already incorporated a company, this should be no older than 5 years before the time of their Programme application – for non-autonomous entities; the assessment is performed at group level.
• The Applicant team must be composed of a minimum of two people, with at least one person working full time on the project during their participation in the Programme.
• Applicant may be any early-stage and/or more advanced start-ups/projects. Although it is not necessary to have a minimum viable product (‘MVP’) at the application stage. For the HealthTech domain, products or services in preclinical proof of concept or MVP will be preferred.
• Participant must be at least 18 years of age or older as of the starting date of the Programme.
More information at: https://www.startupluxembourg.com/fit-4-start