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.
Funding applications can target either:
- Grand Solutions – i.e. technological R&D projects, or relatively close to market projects, typically holding high commercial potential
- InnoBooster – grants for SMEs targeting recruitment of academic/research personnel, collaboration with knowledge institutions and other innovation activities
- Co-financing of industrial PhDs, Post Docs, etc.
As a private company participating in an Innovation Fund project it is possible to obtain funding for the development of high-potential products, thus improving your market position and competitiveness.
The Innovation Fund opens the way for research institutions and public parties to publish research results, education, spin-offs and technologies to the benefit of the society.
In Grand Solutions, the Innovation Fund offers grants of DKK 5-30M available for funding of projects, with the Fund contributing up to 75% of eligible project costs.
For a given project idea submitted as a Grand Solution, applications need to demonstrate:
- Obvious business potential: project results should be commercialised and create revenue for participating companies.
- Internationally recognised, high quality research and innovation: original research at/beyond state-of-the-art, and the inclusion of qualified partners.
- Entrepreneurship: public-private partnership; knowledge sharing in the project; and an adequate project governance structure and processes.