The 20 startups selected for Fit 4 Start #12, Luxembourg’s flagship accelerator programme, have been unveiled on Thursday 16 December.
The jury members of this new edition had to choose from a total of 214 applications coming from 42 countries. The pitching sessions were held online between 13 September and 4 October.
For this 12th edition, an additional category, focused on HPC and data analytics, has been added to the 3 traditional verticals (ICT, HealthTech and Space), for which 3 startups have been selected, among the 20.
Up to €150,000 in funding
The 20 startups selected in the 4 categories will benefit from the specialised coaching as well as €50,000 of funding from the Ministry of the Economy each, with the possibility of receiving an additional €100,000 if they graduate successfully from the programme and manage to raise some private capital.
On top of that, the 3 startups selected in the new track will benefit from a special programme, including access to computing and data analytics capacities of the national supercomputer MeluXina.
Artificial Intelligence (AI) as the main represented technology
In line with previous editions, one third of the applications came from Luxembourg, the rest being equally divided between EU and non-EU startups.
This 12th call-for-applications also showed a clear trend for AI related solutions. Indeed, 30% of the applications used this technology, following by Internet of Things (11%) and Machine learning (11%).
A real interest for the new track
“The new track attracted 20 applications, which means that there is a real interest for this kind of offer from startups. It links directly Fit 4 Start to MeluXina, which is a highly strategic initiative of the Government meant, among others, to build a competitive ecosystem for ambitious startups.” Stefan Berend, Head of Startup Acceleration at Luxinnovation.
The Fit 4 Start acceleration programme is a powerful facilitator providing entrepreneurs with attractive pre-seed funding,” Minister of the Economy Franz Fayot.
Minister of the Economy Franz Fayot added: “In addition, the new HPC and data analytics track offers a unique opportunity to benefit from the real added value that we can offer in Luxembourg in terms of technology and expertise in the field of supercomputing and I hope that this will lead to the development of innovative solutions.”
The programme will kick off in early January. It will last 6 months, with coaching sessions taking place both physically and online depending on the sanitary situation.