In the above photo you can see the 3Sonic- A novel 3D imaging device used to improve precision in cancer surgery – this was supported with funding from the Fund.
The Innovation Fund is experiencing an increased number of applications for funding across several programs and target groups. Denmark’s Innovation Fund invests approximately DKK 1.7 billion (EUR 225 million) annually. This funding supports a range of programs aimed at fostering innovation in areas such as green technologies, health, life sciences, and digitalization. For example, in 2023, DKK 300 million was earmarked for green research efforts like CO2 capture and storage.
This funding applies both to the early maturation of research on the way to implementation or commercialization, but Danish companies are also increasingly looking for funds that can ensure their future survival and competitiveness.
“It is of course a positive trend that the power of innovation is sprouting out there, but it also challenges the fund’s ability to honor the best applications, and we risk missing out on important innovation that can remedy major societal challenges such as cyber security, lack of hands in the healthcare system , biodiversity and green transition”, says Cecilie Brøkner, director of the Innovation Fund.
The field of quantum technology has been active in seeking funds from the Innovation Fund. Not least through the national quantum programme, where in 2024 only funds were sought for projects worth over 1 billion kroner (€135 mllion), distributed over 51 applications for phase 1 under the Grand Solutions programme.
- Good applications are selected
The Innovation Fund also receives many qualified applications in the green and health sectors, and this year the expectation is that a maximum of 10 percent will receive an investment. This means that many applications that are actually worthy of funding must be prioritized.
“We expect that there will be more major applications that, among other things, are aimed at the major societal challenges and the development of new technology, including quantum technology and artificial intelligence, where research and innovation must mature,” says Cecilie Brøkner and continues:
This is partly because the public, but especially the private foundations, spend a lot of money on research and applied research, but also because there is an increasing political focus on these agendas.
There are just a few programs in Denmark aimed at the early maturation of research and innovation, and this means that Denmark risks missing out on projects with heavy research-related knowledge and high flying innovations, which will form the basis for new knowledge-based companies and solutions for industry, healthcare and green transition.
For more information contact: kontakt@innofond.dk