Luxembourg’s Leading Startup Programs & Events

We would like to start off by thanking all of the participants at our Luxembourg Ecosystem and Startup Support Resource-Sharing Seminar in May. Since then, two Taiwanese startups, Spaceship App and LuggAgent, have flown over to Luxembourg to showcase their innovative solutions during ICT Spring at the end of June. The call for applications for Fit 4 Start (14th edition) was also announced at ICT Spring and just recently closed. Over the course of this article, we will explore Luxembourg’s leading startup programs and events.

Since the Luxembourg government realized the risk of an undiversified economy around the 1960s, they set diversification efforts in motion. As a result, Luxembourg went from a steel industry-dependent economy to one of the leading global financial centers in the 1980s, then transitioned into an innovative knowledge-based economy. Furthermore, understanding the certainty of a digitalized future, Luxembourg launched its data-driven innovation economy strategy in 2019. To support these efforts and attract entrepreneurs from all over the world, Luxembourg initiated its ICT Spring conference in 2010, Fit 4 Start acceleration program in 2015, and Arch Summit in 2018.

Launched in 2015, Fit 4 Start is an acceleration program initiated by Luxembourg’s Ministry of the Economy. This program aims to assist innovative startups in establishing their business in Luxembourg by accelerating the development of their products/services, as well as their go-to-market strategy. It leverages Luxembourg as an optimal test market and ideal launchpad for the EU, totaling about 445 million consumers. The program targets digital/data-driven startups with innovative technologies at the core of their business. Some fields of interest include smart mobility, sustainable technology, financial technology, space technology, blockchain, big data, artificial intelligence, and health technology.

Eligibility

• The applicant’s team must comprise at least two people. One of them must be working full-time on the project.
• Participants must be 18 years old as of the program’s starting date.
• Participants must attend all of the provided coaching sessions.
• Applicants do not need to have a business entity incorporated at the application stage.
• If a business entity is already incorporated:
• It should be no more than five years old at the opening date of the respective Fit 4 Start call.
• Must be considered a small business (less than 50 employees and the annual turnover does not exceed EUR €10 million.
• A minimum viable product (MVP) is not necessary at the application stage. However, preclinical proof of concept or MVP is preferable in health technology, products, or services.
• Non-commercial enterprises/projects are not eligible.

Benefits

• Coaching & Mentoring: 6 months of professional coaching in group and personalized sessions adapted to each startup.
• Funding: Up to €150,000 of an equity-free grant
• Office: Free access to co-working space
• Network: Key networking & financing opportunities
• Access to High-Performance Computer (HPC): Luxembourg is planning to allocate 65% of MeluXina’s (high-performance computer) capacity to startups and small and medium enterprises.

ICT Spring is an annual high-level technology conference held in Luxembourg. It aims to encourage emulation and networking between business decision-makers, innovation managers, startups, researchers, and venture capitalists on a European scale. It brings together industry leaders, startups, and academics, allowing them to showcase and discuss the latest trends and communication technologies (ICT) developments. ICT Spring covers a wide range of topics, including Financial technology, digital transformation, cybersecurity, web 3.0, artificial intelligence, health technology, etc. The conference hosts keynotes, panel discussions, exhibitions, and demonstrations of current technology trends and innovations. It creates the opportunity for entrepreneurs, investors, researchers, government officials, and other professionals to gather, connect, and share their experiences.

For more info, please visit the official website.

Arch Summit is Tomorrow Street’s annual flagship event, a joint venture between the Vodafone Group and Technoport (Luxembourg’s national technology incubator). The event provides an excellent opportunity to connect the most ambitious scale-ups to Vodafone’s global network, Luxembourg’s technology ecosystem, investors, and industry leaders. This summit centers around the next-generation innovations and technologies of digital and advanced manufacturing in various topics, including the Internet of Things, Industry 4.0, artificial intelligence, robotics, smart and sustainable cities, and others. It gathers industry leaders, corporate decision-makers, innovators, and investors to share the latest advancements, trends, journeys, and visions for the future. Like ICT Spring, Arch Summit achieves this through networking opportunities, keynote speeches, panel discussions, exhibitions, and workshops. For more information, please visit the official website.

With a strong interest in innovation and the digital economy, along with all of the support, programs, and events, Luxembourg has become the ideal destination for startups to test their products and services for the European market. Luxembourg’s strategic location serves as a natural bridge for foreign startups looking to expand their presence in Europe, granting them access to a consumer base of over 445 million consumers. The country’s strong focus on innovation, the digital economy, and building a strong startup ecosystem further enhances its appeal as a prime destination for ambitious entrepreneurs.

Once a business entity is established in Luxembourg, startups could be eligible for additional funding schemes to assist themselves in scaling up. In the next article, we will illustrate these funding opportunities and provide some tips that could facilitate the setting up and market entry for foreign startups.

Writer: Sebastian Chen