About The Market Development Fund
The Market Development Fund (Markedsmodningsfonden) supports market maturation of novel and innovative products. In 2016, the fund allocates DKK 56,4M.
Companies can apply for co-financing of testing and adaption of their products under reality-like conditions.
The project must have the following characteristics:
- It must be novel and separate itself from existing products and services on the global market
- It must have a strong commercial foundation
- It must have the necessary organisational structure i.e. the relevant partners should be in place
- It must create growth and employment, realised by a high and realistic level of ambition and a clear growth strategy
- It must have socioeconomic effects such as resource efficiency, environmental advantages etc.
- The grant must help the company overcomne significant market barriers
The purpose of the Market Development Fund is to complement the Danish funding schemes that focus primarily on early development. The Market Development Fund supports projects after the development phases and focuses on the final market adaption of new and innovative products.
Possibilities with The Market Development Fund
SMEs as well as large companies can make use of the program for co-financing of new initiatives.
Testing and adaption
- Grants for testing and adaption of a product to better reach the market.
- With successful application of the program companies will typically receive grants of DKK 1.2-5M for demonstration and market maturation of new products
- Small companies: Grants covering 45% of project costs
- Medium sized companies: Grants covering up to 45% of project costs
- Large companies: Grants covering up to 40% of project costs
- Public partner: Grants covering up to 45% of project costs
Requirements with The Market Development Fund
A project must be lead by a private company with minimum two full time employees. Companies can apply alone or in a consortium with both private and public partners. The Market Development Fund does not support projects for research, demonstration, development of pharmaceuticals, natural or alternative medicines, or financial services. The Market Development Fund supports international projects if the primary beneficiary is a Danish company. I.e. if the technology is owned by the foreign partner who will be the de facto primary beneficiary, the Market Development Fund cannot support the project. Additionally, following requirements must be fulfilled:
Testing and adaption:
- The product must be successfully tested in a demonstration facility, laboratory or the like.
- At the time of submission there must be an agreement in place with minimum one test consumer
- The budget must be of minimum 3M DKK and the project must be completed within three years
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