Luxinnovation helps to get money for innovative projects
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In 2024, Luxinnovation became the national contact point for the European Foundation for Innovation in Luxembourg. Companies now receive assistance in preparing applications and access to professional advice. Representatives of the Luxembourg Ministries of Economy and Environment have also joined the fund's expert group, which allows for rapid monitoring of changes and prospects for the programme.
Sanna Alaranta, Senior Advisor at Luxinnovation, emphasised the importance of quality training: "We have strengthened our competences thanks to training from the European Commission and support from line ministries, which allows us to effectively assist applicants."
According to Thomas Schoos of the Luxembourg Ministry of the Environment, the transition to a low-carbon economy has become a condition for companies to be competitive. In addition to direct financing, participation in the programme increases investor confidence and facilitates access to private capital, said Mario Grotz from the Ministry of Economic Affairs.
Heliup, a French company supported by the fund, shares its experience: a successful application requires a clear plan and careful consideration of all aspects of the project, from technology to marketing. "It is better to build realistic goals than to have the project revised because of inconsistencies," says Julie Regeon, the company's business developer.
The process of preparing the application, she said, took Heliup three months. One of the challenges was adapting to the commission's format and requirements. "It requires flexibility, time and understanding of the rules," Regeon emphasises, adding that it is better to have a separate coordinator to manage the project.
Despite the challenges, there are tangible benefits to participating in the programme, ranging from direct funding to regulatory and technical support. Projects can also receive assistance from the European Investment Bank to improve their technical and financial maturity.
For companies ready for the challenge, the EIF offers a chance not only to reduce their ecological footprint, but also to strengthen their position in an increasingly sustainability-orientated market.
