Deadline: 30 April 2020
Within this context and in addition to the general measures already put in place by the Government to support Luxembourg based enterprises, the Ministry of the Economy, together with Luxinnovation, have decided to launch the StartupsVsCovid19 call for projects.
The StartupsVsCovid19 competition is aimed at selecting and supporting the best startups in developing innovative solutions to combat the societal, economic and sanitary crisis we are currently experiencing.
The Luxembourg economy has been facing one of the most important and fast coming crises ever experienced. Since mid-March 2020 the outbreak of the Covid-19 coronavirus obliged governments in Europe and now all over the world to enforce confinement measures to protect their populations. As a result, business activities have dramatically decreased and small and medium sized companies are particularly exposed. Besides the difficulties faced by all type of companies, Startups are among the most affected as they experience the freezing of private investments (VC, Business angels, …) and the postponement of projects with first customers or potential first customers (POC, pilot, demonstration project, …).
Nonetheless, even in this difficult situation, Startups continue to prove their capacity to reinvent themselves by using outstanding innovations created by their talented teams at a very fast pace.
Specific programme aimed at:
- Supporting young innovative Startups to be able to contribute to the fight against the economic, sanitary and societal impacts caused by the Covid-19 crisis.
- Boosting the development of technological solutions / products / services that will tackle the Covid-19 crisis and its economic and societal impact.
Funding Information
The Programme will support Startups selected for participation, having created added value and substance (operations, jobs,…) in Luxembourg by giving access to a grant of up to 150.000 EUR made available by the Ministry of the Economy according to State aid rules.
The grant will cover 100% of the identified need in line with the objectives of the project with an upper ceiling of 150.000 EUR.
- The grant is divided into two tranches, with a first tranche of 75% payable after official approval of the project.
- A second tranche payment after completion of the project.
Eligibility Criteria
- Eligible Applicants are all types of young companies with less than 5 years of existence.
- To be eligible for a grant from the Ministry of the Economy, the Participant must have a legal entity and operational activities in Luxembourg.
The following information is required:
- Organisation fact sheet
- Project scope
- Implementation & action plan
- Impact
- Consent
For more information, visit https://www.startupluxembourg.com/startupvscovid19-application-form