FAQs

The Pitching Sessions will take place in person in Luxembourg. However, the Organiser reserves the right to change at any time to remote sessions, if deemed necessary (e.g. change in the epidemiological situation). Upon receiving the Applicant’s confirmation to attend the Pitching Sessions, the exact date, time, and additional relevant information will be communicated in due course.

While there are no prerequisites regarding content, we kindly ask you to comply with the following:

• Presentation in English (the timing may be adjusted freely by the Organiser for each focus area. Time will be strictly monitored and pitches beyond the fixed time will be interrupted);
• Q&A session.

Upon request, a pitch deck template can be provided.

The programme supports the participants in getting started in Luxembourg by giving access to a grant up to EUR150,000 made available by the Ministry of the Economy in accordance with the law of 20 December 2019 having as objective the implementation of a de minimis aid scheme.

Only a legal person, meaning a company duly established in the Grand Duchy of Luxembourg and having its business permit can have access to the grant. It is impossible for a natural person to access the grant.

No. The grant from the Ministry of the Economy is not subject to any equity participation in your start-up. Please consult the question below, for the conditions related to obtaining the 3 tranches (2 instalments and the final balance) of EUR 50.000 / EUR 80.000 / EUR 20.000.

The first instalment of EUR 50.000 is accessible to participants in accordance with the following conditions:

• The participants need to have their company established in the Grand Duchy of Luxembourgand obtain their business permit, meaning:
  1. For start-ups which are not yet incorporated in Luxembourg at the time of their selection: the commercial company must (i) be incorporated within nine months from the beginning of the Fit 4 Start Programme and (ii) have at the time of its aid application a minimum issued capital of EUR 10.000 (contributions in cash, fully paid-up) and be able to demonstrate a minimum of EUR 10.000 of cash available to the company to develop its activities.
  2. For start-ups which are already incorporated in Luxembourg at the time of their selection: the commercial company must have at the time of its aid application a minimum issued capital of EUR 10.000 (contributions in cash, fully paid-up) and be able to demonstrate a minimum of EUR 10.000 of cash available to the company to develop its activities.
• A company already incorporated by a participant should be no older than 5 years at the opening date of the respective Fit 4 Start call.
• Participants have nine months as of the beginning of the programme to submit an application for the first instalment of the aid.
• Participants have to submit a detailed budget concerning the use of the first instalment of the aid of EUR 50.000 and the minimum EUR 10.000 of issued capital in compliance with the categories of eligible costs defined under item B. below. Participants have 15 months to spend a minimum of EUR 50.000 of their available funds as of the beginning of the programme.
• Selected participants must be at least 18 years of age as of the starting date of the programme and need to have a team consisting of at least two people of which at least one will work full time on the realisation of the project, attending all sessions during the Coaching Phase of the Programme and being responsible to develop the start-up’s operations out of Luxembourg.

The second instalment of EUR 80.000 is only accessible to successful graduates of the coaching phase in accordance with the following conditions:

• Graduates have successfully managed to raise a minimum of EUR 50.000 of private equity and to perform a formal capital increase in the Luxembourg commercial company (contributions in cash, fully paid-up), within the period of 12 months from the start of the programme. 
• The company has at least 2 full time employees at the time of its application for the second instalment of the aid.
• Graduates have spent a minimum of EUR 50.000 within the period of 15 months from the start of the programme in accordance with their initially submitted budget concerning the use of the first instalment of the aid.
• Graduates have 16 months as of the beginning of the programme to submit an application for the second instalment of the aid and their associated interim project report. 
• Graduates have to submit an updated budget for the second instalment and the final balance of the aid for a total of EUR 100.000 and the minimum EUR 50.000 of private equity in compliance with the defined categories of eligible costs.

The final balance of EUR 20.000 is only accessible to successful graduates of the coaching phase in accordance with the following conditions:

• Graduates have benefited from the first two instalments of the aid.
• Graduates have spent an additional EUR 100.000 of their available funds (at least EUR 150.000 spent in total from the beginning of the programme) within the period of 24 months from the start of the programme, according to the updated budget submitted for the second instalment and the final balance of the aid.
• Graduates have 25 months as of the beginning of the programme to submit an application for the final balance of the aid and their associated final project report.

• By submitting an application, the Participant accepts that refusal of / non-compliance with the submission of an interim or the final project report may result in the loss of eligibility for this state aid and the immediate reimbursement of the amount of the grant paid, plus applicable legal interest.
  
  
• By submitting an application, the Participant accepts that, in the event of non-graduation from the Coaching Phase, the Participant is still required to submit to the Initiator within the period mentioned above an interim project report relating to the use of the first instalment of the aid of EUR 50,000. Refusal of / non-compliance with the submission of such interim project report may result in the loss of eligibility for this state aid and the immediate reimbursement of the amount of the grant paid, plus applicable legal interest.
  
  
• By submitting an application, the Participant accepts that, in the event of a voluntary early exit from or abandon of the Programme by the Participant, participation to the Programme will cease as from the date of such event and any outstanding aid payments be immediately suspended.
  
  
• By submitting an application, the Participant accepts that, in the event of a compulsory exclusion of the Participant from the Programme, participation to the Programme will cease as from the date of such event and any outstanding aid payments be immediately suspended.
  
  
• By submitting an application, the Participant accepts that any voluntary early exit from or abandon of the Programme by the Participant or any compulsory exclusion occurring after the receipt of any instalment of the aid still requires the submission to the Initiator of an interim project report detailing, among others, the use of the aid instalment(s) received. Such project report should be submitted by the Participant within one month following the date of the relevant exit event. Refusal of / non-compliance with the submission of such interim project report may result in the loss of eligibility for this state aid and the immediate reimbursement of the amount of the grant paid, plus applicable legal interest.
  
  
• By submitting an application, the Participant accepts that, in the event of bankruptcy, judicial or voluntary liquidation of the Participant, participation to the Programme will cease as from the date of such event and any outstanding aid payments be immediately suspended.
  
  
• By submitting an application, the Participant accepts that any misuse and/or the disbursement of the aid received in discord with the budget submitted and/or the categories of eligible costs described here below may result in the loss of eligibility for this state aid and the immediate reimbursement of the amount of the grant paid, plus applicable legal interest.

Graduates should successfully manage to raise a minimum of EUR 50.000 of private equity within the period of one year from the start of the programme.

Eligible costs, all of which have to be in direct relation with the realization of the applicant company’s Fit 4 Start project, are categorized as follows:

Please refer to the question ‘Which conditions are linked to receiving the first instalment of EUR 50.000 and how can the second instalment of EUR 80.000 as well as the final balance of EUR 20.000 be unlocked?’.

1. Incorporate your company in Luxembourg and obtain your business permit;
2. Send your grant application and all relevant documents to Luxinnovation for review;
3. Submit your complete grant application file to the Ministry of the Economy once you have received feedback from Luxinnovation.