Luxembourg, 20 October 2023 – In parallel with the Luxembourg Venture Days, the flagship event of the ecosystem organized from17 to 19 October by Luxinnovation, the names of the 20 start-ups that will participate in the 14th edition of the Fit 4 Start acceleration program in early 2024 were officially unveiled..

Following the call for applications that took place this summer, 356 start-up applications from nearly 60 different countries had been shortlisted. At this stage, Luxembourg, the United States, Germany, India, and Spain were the most represented countries among the applicants.

During the Luxembourg Venture Days, 65 start-ups active in the digital, HealthTech, or space sectors pitched during two intense days. In the end, the jury selected 11 in the Digital sector, 5 in HealthTech, and 4 in Space.

"Once again, the quality was there," rejoices Sven Baltes, Senior Advisor - Start-up Acceleration at Luxinnovation. "The increasingly significant presence of project leaders from abroad demonstrates how this program has become a reference beyond borders in just a few years. This is the well-deserved reward for intensive collective work, coordinated by Luxinnovation, along with jury members, coaches, industry experts, and various partners."

Preparation of a scale-up programme

Initiated in 2015 by the Ministry of the Economy, the Fit 4 Start acceleration program is managed by Luxinnovation in collaboration with Technoport, Luxembourg City Incubator, and the Luxembourg Space Agency. It involves specialised support over a six-month period, as well as individual funding of €50,000 from the Ministry of the Economy. Companies that complete the program and manage to raise funds can receive up to an additional €100,000 in state aid.

"Fit 4 Start has been highlighted in the government's roadmap 'From Seed to Scale' as one of the cornerstones of the Luxembourg environment for early-stage start-ups," recalls Sasha Baillie, CEO of Luxinnovation. "But the government has also identified the need to address the next step, namely the need to help the most promising young companies succeed in their growth phase. Therefore, at the request of the Ministry of the Economy and in partnership with all ecosystem experts, we are preparing a tailor-made program to support companies in their development up to the scale-up level. We hope this pilot project will be operational at the beginning of next year and will gain the same strong reputation as Fit 4 Start, propelling our ecosystem to new heights."