After pitches from 60 entrepreneurs active in digital, healthtech and space--at the Luxembourg Venture Days, held Wednesday 16 and Thursday 17 October--the names of the 20 startups that will take part in the 15th edition of the Fit4Start acceleration programme in early 2025 were officially announced.
420 applications were received from 70 countries, the majority from Luxembourg, Germany, the UK and France. This is "the second highest participation rate ever. This highlights the exceptional talent of our local entrepreneurial community, as well as the international interest in the Luxembourg ecosystem", emphasised Luxinnovation's manager of startup relations, Sven Baltes.
The Fit4Start programme managed by Luxinnovation consists of six months' specialised support, plus individual funding of €50,000 from the Ministry of the Economy. Companies that complete the programme and succeed in raising funds may receive up to a further €100,000 in state aid. The programme is being run in collaboration with the Technoport, Luxembourg Space Agency, Luxembourg City Incubator, Luxembourg House of Financial Technology, House of Biohealth, Luxembourg House of Cybersecurity and LuxProvide.
"80% of the startups that took part in the 14 previous editions are still present in Luxembourg. I think this confirms that the country offers a favourable environment where start-ups can develop, prosper and target European and international markets", said Luxinnovation CEO .
Attending the announcement ceremony, the economy minister (DP) announced the launch of an action plan dedicated to startups, which includes strengthening the role of the Technoport incubator and the National Research Fund (FNR) in the emergence of new spin-offs. "It will be a series of concrete measures designed to support startups at every stage of their development, from their early stages through to their growth and until they succeed."
The selected startups
Digital category
-Algora (Luxembourg): a financial market intelligence platform that enables investment professionals to manage and analyse financial research.
-DataSecure Anti-Ransomware by Cortex Security (Luxembourg): a cybersecurity solution based on advanced AI-powered algorithms to protect businesses against ransomware attacks.
-Elora Call (Luxembourg): a platform enabling companies to create their own GenAI phone helpdesk in less than an hour.
-Essembl (Luxembourg): an AI fashion advisor that helps users choose outfits, provides style advice and offers smart shopping tips based on their preferences.
-LetzTrail (Luxembourg): connects hiking trails, friends and local businesses for a great outdoor experience.
-MAIC OS (Luxembourg): the first complete SaaS operating system for the hospitality industry.
-Social Cooling (Luxembourg): helps businesses and governments cool their offices and workspaces with a plug-and-play air conditioner.
-Symbiotics: eliminates legal risks and minimises the financial burden of data breaches.
-TradDocs (South Korea): AI solution for processing unstructured texts for international trade, streamlining contract execution, reducing both time and costs.
-VizyOnAir (Luxembourg): designing a container equipped with an intelligent GPS monitoring system to be shipped anywhere in the world.
-Wequity (Belgium): enables ESG professionals and auditors to save time on compliance tasks.
Health technologies category
-Glacies Biome (Luxembourg): transforming skincare by combining microbiome analysis, AI and computer vision to provide highly personalised diagnostics and an optimised skincare regime.
-Global Particle Therapy (USA): provides cancer patients with access to advanced and affordable proton therapy.
-Helical (Luxembourg): open AI platform enabling pharmaceutical companies to accelerate and transform their drug discovery process.
-TrialCraft (Belgium): a futuristic AI-based medical writing tool, helping medical writers in their daily tasks.
-ZenZen (Germany): enables 24/7 personalised support, meal planning, easy data tracking and emotional support for pregnant women with diabetes.
Space category
-Aeon (Luxembourg): providing centimetre-level real-time GNSS positioning accuracy, offering an alternative or complement to real-time positioning services.
-ESGSAT (Puerto Rico): revolutionary data analysis software to assess ESG performance for financial institutions and fund managers.
-Exobiosphere (Luxembourg): the first space platform designed to accelerate drug discovery by exploiting microgravity to provide faster and more accurate biological information.
-TerraEye (Luxembourg): a simplified and automated remote sensing solution designed for geological consultancies.
Read the French-language version of this news report