On 5 July 2021, Minister of the Economy Franz Fayot and Luxinnovation CEO Sasha Baillie officially launched the web platform aimed at showcasing the Luxembourg ecosystem internationally and facilitating networking. The event was also the occasion to present the participants in the 11th edition of Fit 4 Start and to award the graduates of the previous edition.
Launched in 2019, Startup Luxembourg is the brand for the ecosystem focusing on young innovative companies in Luxembourg. It aims, through its web platform and social networks, to promote this ecosystem internationally and to facilitate networking and business opportunities.
Supported by the Ministry of the Economy and managed by Luxinnovation, the public initiative Startup Luxembourg serves all players in the ecosystem (start-ups, incubators, research institutes, public organisations, etc.). Startup Luxembourg is also the brand under which Luxembourg is represented at international events dedicated to young innovative companies.
The Luxembourg start-up ecosystem has grown considerably in recent years, both in terms of the number of start-ups and in terms of programmes and support measures.
“The Luxembourg start-up ecosystem has grown considerably in recent years, both in terms of the number of start-ups and in terms of programmes and support measures,” said the Minister of the Economy Franz Fayot.
“Our ecosystem has reached a certain level of maturity and it is now the right time to focus our efforts on promoting it beyond our borders,” added Sasha Baillie, the CEO of Luxinnovation. The Startup Luxembourg brand now has 17,000 followers on its three social networks (LinkedIn, Facebook and Twitter) and has already represented Luxembourg several times at international trade fairs such as Viva Technology in Paris and the Web Summit in Lisbon.
A reflection of the Luxembourg start-up ecosystem
The main objective of the www.startupluxembourg.com platform is to highlight the ecosystem and its players, as well as to bring together all the latest news about start-ups in Luxembourg. At the international level, it serves as a lever to highlight all the advantages that the country can offer to young innovative companies. It also enables direct contact with incubators, start-ups and institutional players.
Our ecosystem has reached a certain level of maturity and it is now the right time to focus our efforts on promoting it beyond our borders.
At the national level, the platform also aims to facilitate networking and business opportunities. Based on a very advanced design and user experience, the site aims to best reflect the specific characteristics of the Luxembourg ecosystem. The Grand Duchy is a prime location from which to access the European market, with an open and international economy by nature, easy and quick access to private and public decision makers, a digital agenda clearly outlined by the government and a unique quality of life.
Fit 4 Start in the spotlight
The event was also an opportunity to revisit the Fit 4 Start programme, the 11th edition of which was announced in early June.
Launched by the Ministry of the Economy and managed by Luxinnovation in collaboration with Technoport, Luxembourg City Incubator and Luxembourg Space Agency, the Fit 4 Start programme helps young innovative companies to launch from Luxembourg, transforming innovative ideas and entrepreneurs’ strong will to succeed into companies with a strong growth potential. Initially open only to start-ups in the ICT sector, Fit 4 Start now also targets companies active in health and space technologies.
The 15 start-ups selected at the beginning of June for the 11th edition pitched their solutions in person or online. These 15 start-ups will benefit from six months of specialised support, as well as individual funding of €50,000 from the Ministry of the Economy, with the possibility of receiving an additional €100,000 if they successfully complete the programme and manage to raise private capital.
A round table discussion with former participants looked back on the main developments that have contributed to the reputation of Fit 4 Start. In 10 editions over a period of 5 years, the programme has seen more than 1,800 start-ups apply and 78 follow the different coaching sessions. The event ended with the graduation of the 16 successful applicants from the 10th edition.