The pilot edition of Luxembourg’s scaleup programme has provided valuable insights into how to accelerate the international growth of high-potential ventures.
Startup Luxembourg
In 2024, Luxembourg launched the pilot edition of its first-ever scaleup support programme. Initiated by the Ministry of the Economy and managed by Luxinnovation, the pilot programme targeted scaleups – advanced-stage startup companies with a proven first product that have secured significant funding, are on an accelerated growth trajectory and have plans for international expansion.
Launching this scaleup programme is a key initiative aligning with the national ambition to provide startups and scaleups with relevant support at every stage of their development.
Mario Grotz, Luxinnovation
“Luxembourg already provides strong support for early-stage startups, in particular through the Fit 4 Start acceleration programme. However, there has been a gap in support for the critical but complex transition from startup to scaleup,” explains Mario Grotz, CEO of Luxinnovation. “Launching this scaleup programme is a key initiative aligning with the national ambition to provide startups and scaleups with relevant support at every stage of their development.”
To develop a relevant programme responding to scaleup needs, Luxinnovation brought together a keystone team made up of entrepreneurs, corporate executives, investors and institutional facilitators. They contributed to the programme design and to the selection of the participants of the 2024 pilot edition.
Three companies participated:
All three are deeptech companies focused on providing technology solutions solving substantial scientific or engineering challenges.
The pilot programme was structured around four critical areas:
“These challenges are at the top of the agenda for every scaleup, and most international programmes address them,” says Inna Perepelytsya, Senior Advisor – Startup Relations at Luxinnovation, who coordinated the pilot edition. “However, we knew that our approach had to be tailor-made to meet the specific needs of the participants. That’s why we incorporated ‘à la carte’ sessions where companies could choose relevant topics and arranged one-on-one meetings with industry experts.”
The participating scaleups expressed a strong desire to be connected to experts in their respective industries and to learn directly from entrepreneurs who have successfully scaled their businesses beyond 200 employees. The keystone team included two such entrepreneurs: Tom Michels, co-founder and CEO of Salonkee, and Genna Elvin, co-founder and Chief Tada Officer of Tadaweb, and the participants much appreciated discussing with them.
Another key takeaway was the value of peer learning. Despite working in different fields, the participants found that they shared similar challenges. The programme provided a space for them to exchange experiences, ask questions, and feel less isolated in their scaleup journeys.
Supporting scaleups effectively requires a collaborative effort from the entire ecosystem, which played a crucial role in the programme’s success. “We invited 16 individuals to join the keystone team, and every single one of them said yes,” recalls Ms Perepelytsya. “We saw a strong motivation for collaborating and a willingness to ‘give back’ and support the next generation of successful entrepreneurs.”
The contributions of the keystone team members were instrumental in shaping the programme and engaging with the scaleups. One notable example was an initiative led by an investor, who facilitated discussions with the Luxembourg Private Equity and Venture Capital Association (LPEA). This resulted in Luxinnovation receiving valuable investor insights, which were used to design bespoke workshops.
We saw a strong motivation for collaborating and a willingness to ‘give back’ and support the next generation of successful entrepreneurs.
Inna Perepelytsya, Luxinnovation
Another highlight was Goodyear’s involvement – recognising that all participating companies had production facilities, Goodyear invited them to visit its own manufacturing site. “With several facilities in Luxembourg, Goodyear understands the critical need to attract and retain top talent in manufacturing. That is why we actively collaborate with government representatives, industry experts, startups and scaleups to explore solutions for both blue- and white-collar recruitment and retention,” says David Anckaert, Chief of Global Product Strategy and Planning. “Building strong industry connections and working together on concrete strategies is essential to fostering a skilled and future-ready workforce.”
The Ministry of the Economy, Luxinnovation and the keystone team members are now using the insights gained from the pilot edition to shape the next edition of the programme. The government announced that a full-fledged scaleup support programme will be launched by the end of 2025.
