POLITICS & INSTITUTIONS - ECONOMY

Entrepreneurship

Luxinnovation boosts startups with new platform



Luxinnovation CEO Sasha Baillie is pictured speaking at the launch on Monday 5 July 2021 Photo:  Sophie Margue/Luxinnovation

Luxinnovation CEO Sasha Baillie is pictured speaking at the launch on Monday 5 July 2021 Photo: Sophie Margue/Luxinnovation

Startups in Luxembourg could receive an additional visibility boost outside of the grand duchy thanks to the launch of a dedicated platform on Monday.

Economy minister Franz Fayot (LSAP) and CEO of business development hub Luxinnovation Sasha Baillie inaugurated StartupLuxembourg.com during a ceremony at Luxexpo The Box on Monday.

The site consolidates the work that followed the 2019 launch of Startup Luxembourg, the formal ecosystem created to support young innovative businesses in Luxembourg. Today, the brand has over 17,000 followers on its three social networks, LinkedIn, Facebook and Twitter, and has represented Luxembourg at international fairs, including Viva Technology in Paris and the Web Summit in Lisbon.

The new website contains news about startups in Luxembourg and shows the advantages of doing business in Luxembourg. It is also a means to connect members with incubators, startups and associated organisations.

The economy minister used Monday’s launch to revisit the Fit 4 Start programme, which helps young innovative companies launch themselves from Luxembourg.

Its 11th edition features 15 startups who will benefit from six months of specialised coaching as well as €50,000 in individual funding from the French economy ministry, with the possibility of receiving an additional €100,000 if they successfully complete the programme and manage to raise private capital.

Since its start five years ago, the programme has received more than 1,800 applications and supported 78 organisations with coaching.