FAQ

What are VentureLab’s mission and roles?

• The VentureLab is an entrepreneurship support structure that aims to promote business creation among students and young graduates from higher education institutions in Liège and Luxembourg. The incubator greatly respects their life paths and the world around them. The purpose of the VentureLab is threefold:

• An educational purpose: helping these young people, aged between 18 and 30, become entrepreneurs, and develop their skills and their self-confidence.‍

• An economic purpose: supporting business creation to create economic added value and jobs.

• A societal purpose: responding to social and environmental issues by helping young entrepreneurs to become the leaders of tomorrow, aware of their impact and willing to commit to achieving the Sustainable Development Goals.

What are the VentureLab’s opening hours?

The VentureLab offices are open Monday through Friday, 8:30am to 5:30pm. VentureLab staff members are available to answer your questions during these times.

The La Grand Poste coworking space is open Monday to Friday from 7:00am to 10:00pm; and on weekends and public holidays from 9:00am to 5:00pm.

What are some of the VentureLab’s key figures?

Since its creation in 2014, the VentureLab has supported the development of 567 projects, carried out by more than 1,000 individuals (students and young graduates). In the space of 8 years, the incubator has supported the creation of more than 166 companies, which in turn created more than 1,000 jobs. Find all our key figures here.

In which sectors do the companies supported by the VentureLab operate?

A third of the entrepreneurship projects supported by the VentureLab are aimed at the Health and Wellness sector, the Agri-food sector or the IT sector. See all the sectors in which the companies operate here.

At what stage of development should my project be when I apply?

When you present your project to the VentureLab, we want to know:

If you have progressed from idea to action: have you already tested your product/service in the field? Have you received feedback from future clients, potential partners and/or competitors?
Whether you are able to complete this project: do you know how you will manage your professional or student life and your work on the project? How many hours a week can you spend on it?
If your project (and entrepreneurship in the broadest sense) is a life project for you, something you really believe in.
If you are aware of the skills needed to carry out this project: what skills do you have and which ones will you need to seek out?

How can we apply if there are several of us working on the same project?

The VentureLab supports projects which are developed by one or more people, as long as all the members of the team are available and wish to be supported by the VentureLab.

If you have partners working with you on a project, we will ask you to complete an application on behalf of one project member only. However, the whole team will be asked to give an oral presentation during the Admissions committee meeting. If we decide to support you, the whole team will benefit from the same services.

What is the average length of time the VentureLab provides support?

Young entrepreneurs who create their business from start to finish leave the incubator after two years. Our goal is to be useful. You are free to leave as soon as you feel that you no longer need the VentureLab.

How much does it cost?

Joining the VentureLab is free, thanks to government funding. Depending on how long we provide support, the success of your business and your economic situation, we may invite you to make a repayment in the form of a donation.

You’re the entrepreneur

While the Committees and Panels are mandatory steps in your journey, the tools, training courses and events are not. You’re the entrepreneur, you decide whether or not to use them, depending on your needs.

Will the VentureLab fund my project?

No, the VentureLab is not a financing body. It will not finance your project and will not take any commissions or shares in your future business. On the other hand, we will make sure to support you in your financial strategy so that your project is solid, sustainable and so that you can make a living from it. We will help you build your financial plan, make you aware of the various possible sources of funding that would meet your needs, and organise meetings with the investors who could provide the funding you need to make your project a reality.

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