Innobooster invests in promising ideas from SMEs, start-ups and scientists. In 2020 Innobooster will distribute up to DKK 650M. The goal is to transform good ideas to value for society in terms of growth and jobs.
Possibilities within Innobooster
Innobooster has a strong focus on innovative companies with the potential to create growth and jobs in Denmark. The programme invests in SMEs with a viable business proposition with high development potential, which requires venture capital. Upon successful application, projects get funding of up to DKK 5M. Innobooster covers 33% of project expenses.
Requirements for Innobooster
Investments in Innobooster projects comprise development and commercialisation & implementation. The InnoBooster investment programme is open to companies that meet the following criteria:
- A yearly turnover of DKK 2M (in the latest financial year) OR
- An external capital invest of minimum DKK 500,000 within the past three years
Companies established less than three years ago, and do not meet the above criteria, must prove potential by:
- Accounting for a strong team with relevant qualifications OR
- Proving relevant results in terms of research (patents, prototype etc.) or by being present in the market
Innobooster evaluates incoming applications on an ongoing basis
The Innobooster selection process depends on the size of the funding amount applied for:
- Applications for less than DKK 0.8M: Applications are screened and assessed by the grant authority staff. Executive Management then makes the final decision. Time to grant: Approximately 1 month.
- Applications for DKK 0.8-5M: Selected applicants are invited to pitch before an interdisciplinary panel of staff and external peer reviewers, who jointly draw up decision-support. Executive Management makes the final decision. Time to grant: Approximately 3-4 months.
Below are the upcoming deadlines for Innobooster. Expect 1-2 months for the proposal writing process.
With the Innobooster People, Innovation Fund Denmark wants to support knowledge-based Danish start-ups in their development following the difficult financial situation caused by COVID-19. With this initiative, the fund is focusing on promising start-ups that have already obtained a validation of their solution in the form of either external capital inflows or turnover.
Companies can apply for salary subsidies of up to DKK 30,000 per month, per employee for 12 months for 1-3 full time development staff with higher education. Each company can apply for a maximum of DKK 1,080,000 and receive a maximum of 1 grant.
Who can apply?
To be considered, your company must have:
- Danish cvr no and be under 5 years old
- Attracted capital of min. 500,000 DKK in the form of convertible loan, equity capital from an external investor or from a public research, development or innovation program or has achieved a turnover of at least 2 million DKK in the last financial year
- Under 50 employees, and a maximum of 74 million DKK in annual turnover or annual total balance sheet
- The company must not have taken over another company's activity, distributed profits or been created through a merger
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