From summer 2021, 5 Luxembourg startups wishing to expand into the United States will be able to benefit from the support programme offered by renowned accelerator gener8tor each year. Their participation in the programme is made possible by a partnership between gener8tor and the Luxembourg Ministry of the Economy.
This new opportunity for startups was announced by Minister of the Economy Franz Fayot at the first day of the Luxembourg e-mission to the state of Wisconsin, which takes place on 29-31 March 2021. Wisconsin presents numerous opportunities for Luxembourg companies, particularly in the areas of environmental technologies, fintech and innovation, and many international companies use it as a base for expanding across the US. Luxembourg, on the other hand, is an attractive destination for American companies wanting to gain a foothold on the EU market. Around 200 participants – mainly American businesses – have registered to discover the opportunities in the two countries.
gener8tor: accelerating business
With offices in Madison, Milwaukee and Minneapolis, gener8tor has a strong national presence in the US. It focuses in particular on sectors such as industry 4.0, fintech/insurtech and health technologies, which are also key sectors for the diversification of the Luxembourg economy. Since its establishment in 2012, the accelerator has set up some 45 coaching programmes in 24 cities across the US in order to connect startup founders with investors, universities and large companies.
The partnership between gener8tor and the Ministry of the Economy will offer 5 Luxembourg startups each year the opportunity to participate in a 3-week digital programme in order to start making business contacts and evaluate whether their products are suitable for the American market. The Ministry of the Economy, in collaboration with Luxinnovation and gener8tor, will select the startups that will participate in the programme consisting of workshops, courses and mentoring, but also interactions with local entrepreneurs, investors and large companies active in gener8tor's partner network.
This programme in Wisconsin complements the two existing programmes for Luxembourg startups in San Francisco and New York, namely the Startup School programme and the Benelux Catalyst acceleration programme.