The overall aim of the Innovation Fund is to support the development of knowledge and technology, including advanced technology, in order to strengthen research and innovative solutions that may benefit growth and employment in Denmark.
InnoBooster is the main grant programme in Denmark offering support for innovative SMEs through recruitment of academic/research personnel, procurement of R&D services, and other innovation activities.
Commercial opportunities: InnoBooster offers opportunities for Danish SMEs wishing to develop and mature new products or services or to improve a process that increases the company’s competitiveness and creates growth.
Funding available: InnoBooster funds projects with grants lying between 50.000 and 5 million DKK, with a project duration of maximum 2 years. A subsidy rate of 33 percent of eligible cost applies, with the opportunity to obtain a higher effective subsidy rate for projects applying for grants of up to 1,5 million DKK.
Requirements: For a given project idea submitted to the InnoBooster programme, applications need to demonstrate:
– Novelty: The company must initiate new development activities, and the result of the project must be distinctly different from what is on the market today.
– Value creation and business potential: The company must render it probable that it can gain a significant competitive advantage and in the long term profit from the solution.
– Implementation: It must be clear which specific activities will be carried out in the project, which concrete results the company will have after the project, and how they will be used.
– Financial efficiency: The project must be budgeted realistically and the desired grant must measure up to the expected business gain and the project risk.