gener8tor Funds Five Startups Through First European Accelerator Program
gener8tor Luxembourg Investment Accelerator announces its first cohort of five startups
LUXEMBOURG - gener8tor Luxembourg Accelerator program selected its first cohort of five startups in May of 2022 after a vigorous application, interview and selection process. The first cohort includes Elias Robot, Co-Rent, Asets-Lux, Carbon Saver and Drops Lab. The startups were selected from a pool of 170 applicants from across Europe. The Luxembourg Accelerator aims to grow and scale leading European startups across various industries through gener8tor’s flagship 12-week program that includes €100.000 (U.S. $100,000) of seed capital, access to gener8tor’s international network of mentors and investors as well as entrepreneurial training and support. The program kicked off on May 5, and the cohort is now preparing for its final showcase on September 23 in Luxembourg.
During the selection process, gener8tor prioritized startups focused on driving systemic change at the corporate, government and community level as well as with founders that embrace sustainability as a way to transform antiquated industries.
gener8tor launched its first accelerator programs in the United States in 2012 with now 840 startups graduated from its programs to date. The company chose Luxembourg as its first international expansion of investment-based programming for entrepreneurs after a successful pilot in coordination with the Luxembourg Ministry of Economy. “For startups and a U.S. company to enter the European market, Luxembourg provides a unique opportunity both for expansion, innovation and a way to nurture a startup environment that adds more value to each investment we make,” said Mike Ansay, chairman and CEO of Ansay & Associates, LLC and Honorary Consul of Luxembourg. “The Luxembourg government, in cooperation with Luxinnovation, has been incredibly supportive and welcoming to gener8tor Luxembourg.”“We are honored to work with these five startups in our first European Accelerator and be part of the Luxembourg startup ecosystem,” said Menachem Tabanpour, managing director of gener8tor Luxembourg. “The founders are a diverse group of entrepreneurs who bring a network of collaboration and innovation to their industries. We hope to build upon the success of this first cohort, supporting entrepreneurs in Luxembourg and throughout the European Union for years to come.”
The implementation of gener8tor’s new startup accelerator program is in line with the Ministry of the Economy’s initiatives to further empower the Luxembourg startup ecosystem and to position the country as the ideal location for startups to settle and grow from the heart of Europe.
gener8tor’s Luxembourg Accelerator focuses on recruiting from initiatives that include Luxinnovation, Luxembourg’s national innovation agency and Startup Luxembourg, a public initiative that connects, supports and promotes the startup ecosystem in Luxembourg.
The startups selected for the inaugural gener8tor Luxembourg cohort come from Luxembourg, Italy, France and Finland and are listed as follows:
ELIAS ROBOT (Finland) develops conversational learning software and media content with a mission to provide safe, accessible and engaging learning for everyone. The Elias Robot app allows students to practice multiple languages by listening and speaking with Elias in real-time.
Co-Rent (Italy) offers a platform for film production where producers can find and rent equipment for all aspects of a production. This unique and innovative digital platform makes the end-to-end process of equipment sourcing and rental easier for those in the film industry with 4 pickup locations currently operating in Italy.
Asets-Lux (Luxembourg) launched a first of its kind cloud based Integrated Design Suite™ (IDS™) which is a multidisciplinary CAD, simulation & engineering design platform that helps Engineering Procurement Construction (EPC) companies accelerate their early-stage engineering 10X faster.
Carbon Saver (France) builds software tools for architects, interior designers, project managers, contractors and craftsmen to optimize for eco-friendly building solutions thus reducing the environmental impact of their projects as well as their carbon taxes.
Dropslab Technologies (Luxembourg) provides a device-agnostic augmented reality (AR) assistance solution to translate processes and procedures into interactive guidance. The mission is to ensure an increase in process efficiency for frontline workers by reducing non-value-added activities while reducing errors during daily business operation.
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About gener8tor
gener8tor is a venture firm and national accelerator network that supports startups, founders, workers, employers, artists and musicians across race, place and gender. gener8tor partners with companies, governments, universities and nonprofits to operate programs in more than 41 communities across 22 states and two countries. Fast Company named gener8tor one of the Best Workplaces for Innovators in 2021 and 2022.
