As the pilot edition is drawing to a close, applications for the Fit 4 Start programme are now open. FinTech and ICT start-ups are invited to apply until 12 February.
Developed by Luxinnovation in cooperation with the Ministry of the Economy and the Technoport incubator, the programme offers early-stage funding and 16 weeks coaching to innovative start-ups in the field of information and communication technologies (ICT) in Luxembourg by “Lean Start-Up” experts in order to get on the right track for establishing a successful and sustainable business.
Participating start-ups will be able to develop a prototype of their product, identify their first clients and invite them to test the product. The feedback from clients allows them to see whether they are on target or need to change direction, before investing too much time and effort. They are accompanied throughout this process by specialised coaches, selected by Luxinnovation.
Since funding is often a major hurdle for young companies, the programme offers selected participant a grant of €50,000, provided by the Ministry of the Economy, to help them achieve their objectives. The founders need to match the grant with a private contribution of €10,000. In addition, the program helps them prepare for growth and further fundraising, and facilitates contacts with potential partners and investors.
Applications for the spring 2016 edition of Fit for Start can be submitted online on www.fit4start.lu until 12 February. The best candidates will be invited to present their projects to a jury composed of experienced entrepreneurs who will select the five most promising start-ups.