DKK 1.5 billion Innovation Fund to create new jobs

A new consolidated fund will make it easier for businesses to navigate 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, whilst also 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 at its disposal which it can distribute for so-called strategic research, i.e. research which can be translated into concrete results. 

"Although Denmark is one of the countries with the highest levels of investment, we do not have the most innovative companies. We would like to see more of the knowledge that we pay for being developed and translated into concrete jobs and growth," says Morten Østergaard, Minister for Science, Innovation and Higher Education. 

Growth and jobs
"By creating one consolidated fund, we will be bringing the best researchers and most innovative companies together to take on the key task of translating concrete societal challenges and innovation needs into specific projects, partnerships and ultimately new solutions for growth and employment in Denmark," says the Minister. 

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