LuxAid Challenge Fund: 7 Beninese startups celebrated by the Luxembourg embassy

On Wednesday, July 16, 2025, at the Luxembourg Embassy in Cotonou, the closing ceremony of the LuxAid Challenge Fund program honored seven Beninese startups with high social and environmental impact. This program of Luxembourg’s cooperation supports innovative entrepreneurial initiatives, aspiring to catalyze the digital and sustainable transformation of Benin.

In a solemn and enthusiastic mood, institutional partners, entrepreneurs, and actors of the Beninese digital ecosystem gathered to mark the official launch of the LuxAid Challenge Fund winning projects.

Joseph Senninger, chargé d’affaires at the Luxembourg Embassy, officially launched the projects. He emphasized the importance of combining innovation and human capital.

“Digital is the common thread of all these initiatives. Our cooperation aims for sustainable and equitable development, not just profitability.”

He encouraged the winners to continue their efforts and hinted at the possibility of a next round of the Challenge Fund.

The deputy director of the Ministry of Digital and Digitization’s office, Djabirou Amadou, praised an initiative aligned with the government’s vision of supporting SMEs and startups. “Benin relies on these innovative small businesses to sustainably transform our economy, and digital is our strategic lever.”, he insisted.

From the Ministry of Small and Medium Enterprises, the representative Koladé Ayédéro hailed the commitment of the winners and reminded that “more than 99% of the Beninese entrepreneurial fabric is made up of SMEs. We must support them to bring out national champions.” He also emphasized the responsibility that now comes with the status of winner, calling on young companies to set an example.

The challenges of a changing ecosystem

The keynote presented by Jessica Gaba, from the Small and Medium Enterprises Development Agency (ADPME), highlighted the major issues facing innovative entrepreneurs in Benin.

Governance problems, financial structuring deficit, regulatory immaturity in sectors such as fintech and health, all of which call for capacity building. “Too few startups are ready to raise funds because they lack organization. The governance issue remains crucial”, she emphasized.

Seven Beninese gems serving sustainable development

She also drew attention to the need for realistic financial projections and solid growth strategies. If the selected projects stand out for their viability, she recalled that many others could not be retained due to insufficient structuring.

As a solution, she proposes strengthening the ecosystem via the SAEI (Support Structures for Innovative Entrepreneurship) and incubation and acceleration mechanisms.

The highlight of the evening was the announcement of the seven winners, chosen from over 180 applications. From Mara Academy to BioLife Tech, via REMA and GobiAgent, these companies operate in key sectors of education, cybersecurity, health, sustainable mobility, agriculture, and inclusive finance. Their projects were unanimously praised for their relevance, local anchorage, and impact potential.

The evening concluded in a warm atmosphere with a networking cocktail, giving those present an opportunity to forge new connections. A new era opens for Benin’s innovation, driven by solid partnerships and clear ambitions.