New Danish Fund  

to Drive Strategic Innovation and Growth

2013.10.08

A new consolidated fund will make it easier for businesses to identify potential innovation subsidies. At the same time, the fund aims to ensure that public investment in research and development will lead to greater success in overcoming the challenges facing society and creating growth and jobs.

The new fund replaces The Danish Council for Strategic Research, The Danish National Advanced Technology Foundation and The Danish Council for Technology and Innovation, and will have DKK 1.5 billion (approx. Euro 200 million) at its disposal which it can distribute for strategic research.

Minister for Science, Innovation and Higher Education Morten Østergaard says:

- "By establishing a collective foundation, we are bringing the most excellent researchers and innovative companies together for the key task of converting concrete societal challenges and innovation needs to concrete projects, partnerships and eventually, new solutions that will benefit growth and employment in Denmark. Establishing this new foundation will mean fewer grant agencies and a simplified system.”

The fund will be launched in 2014 and will secure new solutions for Danish companies and new community partnerships for innovation.

The Danish Innovation Strategy

The new foundation is supporting a national Danish innovation strategy launched last year. The Innovation strategy ensures that more of Denmark’s knowledge and strongholds are translated into new jobs and growth. It support a more goal-oriented Danish approach to creating innovative solutions to global societal challenges.

The innovation strategy contains 27 policy initiatives regarding research, innovation and education. It focuses further improving the knowledge exchange between companies and knowledge institutions, across borders and between the public and the private sector.

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