The Fit for Start programme allows ITC start-ups to benefit from "early-stage" financing and personalised coaching in "Lean Start-up".
Fit for Start offers assistance in the development of the prototype of their product and in the testing of said product with their clients.
Two sessions of the programme are organised every year, one in spring and the other one in autumn.
The following ITC start-ups can apply to the programme:
- start-ups on the verge of being created or already created in Luxembourg less than a year prior to the beginning of the programme;
- start-ups with a team of at least 2 persons.
In order to be selected for the programme, several conditions need to be met:
- the business project must contain the notion of market innovation or differentiation on the market;
- at least one member of the team must work full-time on the project during the 16 weeks of the programme;
- the team is required to provide weekly progress reports;
- the team must bring EUR 10,000 in own funds to cofinance the public aid received within the framework of the programme.
Start-ups who wish to participate in one of the 2 sessions of Fit for Start must submit their application online. The retained candidates present their project to a jury of experienced entrepreneurs who will then select only the most promising start-ups.
Fit for Start helps participants to identify their first clients and to test their prototype with the clients. The programme also offers the opportunity to define a viable business plan and to present the business to potential investors. Each participant will benefit from the programme organisers' network of partners.
Moreover, the programme gives access to:
- 16 one-day workshops for each participant;
- 8 days of personalised coaching;
- a weekly follow-up by experts in “Lean Start-up”;
- collaborative work spaces in an incubator;
- the possibility to meet the different players in the start-up ecosystem in Luxembourg and to benefit from their support.
Financing of the programme
The participants will receive a EUR 50,000 subsidy to help them realise their project. These funds will have to be spent during the programme in order to achieve the objectives defined together with the Fit for Start coaches and organisers.
An additional subsidy of EUR 100,000 is granted by the Ministry of the Economy to successful start-ups who obtained their Fit for Start diploma and who managed to raise at least EUR 50,000 of private funds.
Duration of the programme
The programme has a duration of 4 months.