Non-Profit Accelerator nyuko Has Helped Realize 400 Projects, Raising Close To €6 Million

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Based in Luxembourg, nyuko operates as a connecting link for startups and corporates. We spoke to Communication Manager Lucile Barberet about the accelerator's projects and the effort it takes to become successful.

How would you describe nyuko in a few words?

nyuko is a non-profit structure that offers a variety of programs for startups at every stage of growth and from any industry. We provide the startup ecosystem with a team of internal experts and a network of external professionals to support startups.

What is your role at nyuko and how did you get involved?

I manage the communication for nyuko and its programs, and also coach and train entrepreneurs in topics related to digital communication, design, communication strategy, etc. I have been working at nyuko for two years now, and even if it’s super busy, it’s with great pleasure that I do my best to help startups rise and shine! Working with so many different and passionate people is very rewarding.

Tell us a bit about your acceleration cycles – what can startups expect and what do you ask for in return?

For startups or projects that fall into the early-stage category, nyuko offers two different three-month acceleration programs, which challenge entrepreneurs to get the best out of their ideas (from idea to business plan, from prototype to the first client). Startups that join our acceleration programs get access to trainings, personalized coaching, experts in residence, and coworking hours. In return, we ask them to be fully involved in their project and to give it their best.

On your website, you also mention that you help corporates through your acceleration cycles. What are the challenges they usually present you with and how do you aim at solving them?

Big firms usually all have the same kind of issue, namely how to innovate enough to stay on top of their industry.

We help corporates in two different ways. One is training intrapreneurs – a few employees of large firms join our acceleration cycles to develop their own project while still working for the same company. Some companies encourage such behavior, and we work with others to make it happen. The other way for corporates to get involved is through the LOIC, the Luxembourg Open Innovation Club. We help selected corporate members to learn more about innovation, how it works, how to make it happen. We match them with startups to work on common projects, etc.

In total, you’ve supported more than 400 projects, raising close to €6 million. What can you tell us about previous cycles and startups?

One of the startups I personally helped and that is a success story in Luxembourg is Governance.io. They stayed with us as coworkers, and we also helped them to work on their communication and to raise funds. They are a very friendly team and they are doing great. Others include OUNI, Carpay-Diem, MilePakr, Travelsify, but also Talkwalker – which is one of the most well-known Luxembourgish unicorns.

Non-Profit Accelerator nyuko Realized 400 Projects, Raising Close To 6€ Million

(c) nyuko

Why should a startup apply to nyuko?

Because we will have as much passion as you to make your project a reality! We’ve been helping startups for 17 years in the Greater Region and we are working with the whole local entrepreneurial ecosystem to make sure you receive the best support you can get. We like to keep things informal even if we work hard. Also, we are a nice bunch of weirdos to hang with and working with us usually involves a lot of cakes 🙂

How do you make sure you stand out from the crowd of accelerators in Europe?

Really, we just try to do our best to help the startups we select. We offer programs in French, English, and German so we welcome startups from all over the Greater Region and even further. We work with local players, government entities, the Chamber of Commerce and so on to make sure our startups get everything they need.

How would you describe the local startup scene in Luxembourg and what can the rest of Europe learn from it?

The local entrepreneurial ecosystem is very dynamic compared to the size of the country. We actually make the most of it by working closely with the government and institutions to make sure things are going in the right direction. Some of our startups have met the mayor of Luxembourg City, the Prime Minister or even the Grand Duke. In my opinion, it is a great advantage to benefit from these shortcuts.

What advice would you give entrepreneurs for their startup?

Have a clear vision, plan to scale, gather a team of people that complement each other and keep an open mind. Be dedicated, be passionate, and know when to pivot. Learn from the experts, from other startups, from your failures. Learn every day, everywhere. Be ready to start all over again if you have any doubt. And get the right support wherever you can!

 

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