Fit 4 Start

Apply to this startup accelerator and you might receive $53,800 USD. Complete it and you might collect a further $107,500 USD! You also get 232 hours of coaching, free coworking space, and access to Luxembourg’s startup support system.

Applications for the new batch are open until August 28, 2017. Follow Lootstrap on Facebook for updates!

Award Amount

  • €50,000 (approx. $53,800 USD)

Location

  • Esch-sur-Alzette, Luxembourg

Length

  • 16 weeks

Additional Benefits

  • Free coworking space for team
  • 232 total coaching hours
    • 16 full-day workshops for all participants
    • 8 days of personally-tailored coaching
    • 10 half-days of coaching by phone or email
  • Learn problem-solution fit, product-market fit, scaling roadmap, and funding
  • Create your MVP
  • Access to Luxembourg’s startup support system
  • Demo day to pitch to potential partners and investors
  • Help with visas and residence permits

Who Can Apply

  • International startups may apply, but must incorporate in Luxembourg
  • Early-stage startups that have been incorporated in Luxembourg for less than 1 year
  • Companies with less than €10M yearly revenue and less than €10M assets
  • Team must consist of at least 2 members

Selection Criteria

  • Innovative idea in the ICT field
  • €50,000 grant should make a significant impact on startup’s success

Application Process

  • Written application
  • Best applicants will pitch to selection committee

Conditions

  • At least one team member must work full-time on the project during the program
  • Team must contribute €10,000 to match the funds granted
  • Spend €50,000 grant during program to fulfill objectives agreed upon with Fit 4 Start
  • Team must provide weekly progress reports
  • Company must incorporate in Luxembourg
  • Fluent in English (program conducted in English)

Post-Program Perks

  • €100,000 ($107,500 USD) additional grant if you meet the following conditions:
    • Successfully graduated from Fit 4 Start
    • Raised at least €50,000 of private equity

Website

As always, this program is 100% equity free!