Extract from Luxinnovation press release
On September 27, 2017, Jean-Michel Ludwig, Director, Luxinnovation Start-up Support & SME Performance, announced the 5 new laureates for the prestigious autumn 2017 Fit 4 Start edition. Out of more than 100 submission, the five next participants will be AR24, Prometheus, Qwerteach, ume and VanHack. Congratulations!
Last night at Technoport (Incubator, co-working space and fab lab), Luxinnovation announced the five new start-ups selected for the Fit 4 Start coaching program. Four months of intensive training and a grant of 50,000 euros offers these early stage start-ups a platform to potential success. The programme, which is rapidly gaining in international recognition, is also an initiative (along with Luxinnovation) of the Ministry of the Economy, the aforementioned Technoport and Nyuko (independent non-profit co-supported by public authorities and the business world (public-private partnership).
Speaking at the event, Michele Gallo, Director ICT Coordination, Luxembourg Ministry of the Economy, pointed out that the level of submissions for the programme continues to grow higher along with the interest of private investors, a sign that the entire Luxembourg start-up ecosystem and the Fit 4 Start programme are developing a strong reputation with an international reach.
Fit 4 Start supports start-ups in their establishment phase by offering early-stage funding and coaching. The programme helps them develop a prototype of their product and to learn how to test it with their first clients. In addition, participating start-ups get support in presenting their company to investors and contacts with other actors supporting start-ups. At the end of the programme, additional €100,000 is offered by the Ministry of the Economy to start-ups that have both successfully graduated from Fit 4 Start and managed to raise at least €50,000 of private equity.