Innobooster is a program from Innovation Fund Denmark, which invests in projects from small and medium-sized companies with a clear growth potential and from new, promising start-ups. The purpose is to make good ideas turn into growth and jobs.
Possibilities with 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
Innobooster focuses on projects in three main thematic areas:
- Ambitious and sustainable green technology development and innovation
- Life science, health and welfare technology
- Technology and Innovation that can contribute to developing production and creating jobs in Denmark.
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 0.5M: Applications are screened and assessed by the grant authority staff. Executive Management then makes the final decision. Time to grant: Approximately 6 weeks.
- Applications for DKK 0.5-5M: 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.
Funding from Innobooster can help you develop a new product or a new service that is not on the market today, or significantly improve a process in the company, which improve the company's competitiveness significantly. Applications are reviewed on an on-going basis.
Innobooster opens for applications on February 16, 2021
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