The Business Innovation Fund

The aim of the Business Innovation Fund is to promote growth, employment and export by supporting business opportunities within green growth and welfare as well as providing support for change-over to exploit new business and growth opportunities in less favoured areas of the country.

About EUR 100 million has been allocated to the fund for the period 2010-2012. Private enterprises operating within green business or the welfare area can apply for grants within three focus areas: innovation, market maturation and change-over. Public players can enter into consortiums with private enterprises and thereby apply for grants from the Fund.

Green innovative solutions cover all types of products and services that reduce the burdening of the environment and are profitable. Thus, it must be economically viable to develop and use them.

The welfare area comprises all types of products and services that can enhance the quality, efficiency and satisfaction in welfare.  

Innovation

The Business Innovation Fund provides financial support to large, cross-functional innovation projects within green business and welfare. The support will mainly be granted to projects based on user-driven innovation. The aim is to develop innovative commercial products and services that can meet the increasing global demand for green solutions and welfare as well as generate growth and employment in Denmark.

Market maturation

As the only fund of its kind in Denmark, the Business Innovation Fund provides grants and guarantees to enterprises that have developed climate- and environment-friendly solutions or welfare solutions ready to be launched in the market, but which encounter barriers to reach the market. A prototype must have been developed, and the product or service must have gone through a successful phase of demonstration to qualify for support.

Less favoured areas

The Business Innovation Fund offers financial support and loans for projects that contribute to creating new business and growth opportunities in less favoured geographical areas of Denmark. These are areas with unemployment significantly above the national average, or where it is extremely difficult for the unemployed labour to find new employment. The Fund prioritises projects within green solutions and welfare, but other areas may also be considered.

An independent, professional board of directors has been set up for the Business Innovation Fund, comprising a chairman and seven members appointed by the Minister of Economic and Business Affairs. Between them the board members bring broad business insight, knowledge and experience in the areas in focus for the Business Innovation Fund. The board of directors holds the decision-making power of the Fund and decides on the application of the funds based on a guiding limit, which is approved by Parliament on an annual basis. In 2010, just over EUR 30 million has been allocated to the Fund.  

Contact

Feel free to contact the Busines Innovation Fund if you have any questions or need assistance.

Our address is:

The Business Innovation Fund

The Danish Enterprise and Construction Authority
Langelinie Allé 17
2100 København Ø
Denmark

Phone: (+45) 35 46 60 00

E-mail: fornyelsesfonden@ebst.dk