“We are looking forward to seeing how these companies will evolve over the coming years and make an important contribution to the future development of Luxembourg’s startup community and--beyond that--our economy and our country,” commented Luxinnovation CEO . “This certification in the Fit4Start programme is a key step on the road to success for these young startups and gives them the opportunity to be more visible and to make contact with private investors who keep a close eye on such companies.”
Twenty start-ups were selected from 365 applications from 58 countries. Since the initiative began--this is the 14th edition--almost 3,000 applications from all over the world have been submitted.
“Fit4Start has become an important visibility tool for the Luxembourg startup ecosystem and is a real asset for innovative young startups in their early stages,” says Sven Baltes, manager, startup relations at Luxinnovation. “We will continue to support innovative companies in Luxembourg and those wishing to set up in the grand duchy, with personalised support from our Fit4Start experts. The aim is to integrate them into the country on a long-term basis and support their development and growth efforts.”
The 15 startups received six months of specialised support, as well as €50,000 of funding each from the ministry of the economy if they are integrated into Luxembourg. Those companies that manage to raise funds and employ at least two people will be eligible for up to a further €100,000 in state aid.
At the end of the ceremony, Baillie officially launched the call for applications for the 15th edition of the programme, which closes at noon on 12 August. Twenty startups will be selected in the same three categories: digital, health technologies and space.
Three startups in health technology
(Luxembourg) markets Alissens, developed in the grand duchy by the Luxembourg Institute of Science and Technology (List). It’s the only test available for identifying respiratory sensitisers.
(United States) is a scenario-based virtual reality micro-training system for mental health and well-being.
(Germany) automates medical documentation and coding for dentists, freeing up 25% of their time for additional treatments and reducing process costs by up to 50%.
Three startups in the space sector
(France) helps asset managers invest in nature and fight climate change by creating a symbiosis between nature and finance using space technology.
(Japan), with Tiisa, proposes to transform insulation with an advanced super-insulation material. It is suitable for both space and terrestrial applications, offering unrivalled insulation performance and dynamic heat transfer control for cutting-edge, sustainable space applications.
(Luxembourg) has developed a chemical recycling solution designed to dissolve advanced materials commonly used in space applications, enabling the creation of new materials.
Eight startups in the data sector
(Luxembourg) 3D prints sustainable clay bricks and housing, designed for specific purposes and adapted to the needs of the occupants, using robotic arms, drones and locally sourced materials, even in remote and difficult-to-access locations.
(Luxembourg) is an AI-powered contract platform that simplifies and automates the contract lifecycle for media and entertainment companies, enabling businesses to efficiently process contracts and gain competitive advantage through data-driven insights, industry benchmarks and automated AI red-tagged contracts.
(Belgium) is a collaborative sustainability platform for the food industry, simplifying Scope 3 emissions management through supplier engagement on emissions data, targets and action plans.
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(Luxembourg) provides the tools to enable capital allocators to positively shape the world, facilitating the raising and deployment of capital at a tenth of the cost and in half the time.
(Italy) protects industrial machinery and factories from hacker attacks. Hackers specialise in direct attacks on industrial equipment to halt logistics, the production process and strategic infrastructures such as power stations, satellite communications, production plants, etc.
(Germany) develops software solutions to optimise energy storage systems. These can extend battery life by up to 35% and increase profits by up to 70% by optimising battery operations.
(Korea) aims to ensure a safe and protected life by establishing AI standards that act as safeguards for people and the environment.
(Luxembourg) eliminates losses for producers of high-value goods due to customers buying counterfeits instead of their original products and returns without traceability of items.
This article was first published in French on . It has been translated and edited for Delano.