Fit 4 Start's fifth edition is set to begin in October and interested start-ups have until 28 August to apply.
Antoine Hron, Programme Manager, is coordinating the various teams in charge of selecting and developing promising start-ups in only a few months.
He explained "Since we first launched Fit 4 Start at the end of 2015 we have received more than 500 applications – an average of 100 to 150 for each call – from more than 20 different countries. This shows a strong interest in the programme. Other interesting figures: The programme’s start-ups have raised more than €1.5 million and new fundraising rounds will be announced soon. Twelve new companies were set up, generating 40 jobs. These start-ups have the potential to become huge success stories and have a strong local impact. In the programme, early-stage start-ups receive coaching and support, as well as €50,000 in aid. The Ministry of Economy has even added a grant of €100,000 for companies that want to raise funds at the end of the programme."
He continued "The first four editions allowed us to test different initiatives and to develop our support modules. We are increasingly moving toward a collaborative programme, because we have noticed that start-ups are helping each other much more than they are competing with each other. We have moved from theory to practice through very concrete support. We conduct plenary sessions in the first two weeks of the programme so that entrepreneurs can devote the remaining 3.5 months to putting into practice the solutions proposed by our coaches."
Each edition lasts six months. The call for projects lasts one month, as does the selection process and preparation. Then there is a four-month programme for the selected start-ups made up of coaching and personalised support. The jury and experts make full use of these few months, giving their advice and opening up their professional and personal networks.
Of the 150 applications we receive on average, 20 start-ups are invited to the pitching day and five are selected to the programme. The other 15 are followed by our teams and partners who identify their needs and evaluate how best to help them grow in Luxembourg or beyond. The remaining applications are also analysed and approximately 50 files are directly or indirectly taken care of by the partners.
"In 2018 our goal is to make the pitching day or the graduation day a flagship event by inviting as many interested start-ups as possible to come and meet the ecosystem’s main players" Antoine Hron continued.
To register, see http://register.fit4start.lu/
Photo © Olivier Minaire: Antoine Hron, Head-of Start-up Development & Fit4Start Programme Manager at Luxinnovation
