The newly launched Business Innovation Fund (Fornyelsesfonden) by the Ministry of Business and Growth will provide up to 300 SME’s with grants to use towards private innovation advice from a selection of Danish companies - including Designit.
Up to 300 Danish companies (with up to 50 employees) whose products and/or services aid the environment or welfare will now have new means through which they can improve their final offerings. The funding, from the Ministry of Business and Growth, is targeted towards change and innovation, and is aimed at helping companies to fully engage their stakeholders, develop their products, and enter new markets – all with the ultimate goal of increasing sales and improve business.
It will now be possible for SME’s who work with environmental or welfare service to receive funded advice and assistance on:
- How to become more innovative
- How to develop new products and services that fit market demands
- How to develop and test new ideas to assure a higher hit rate and market fit
- How to involve customers and employees in developing a successful business
A total of 10 million DKK has been allocated towards the initiative, which consists of two offers:
- Innovation strategy: Brief checks lasting 3-4 weeks, which gives a snapshot of the company’s innovation capacity and leads to an action plan for improving innovative business development. 200 companies can get co-funding of 50% - up to 25,000DKK - of the total prise
- Innovation Process: In-depth course lasting 3-4 months. The course provides practical tools and training in idea development, idea testing, and user-driven innovation. 100 companies can get co-funding of 50 % - up to 50,000DKK¬ – of the total price
A number of companies have been selected to offer the service. Designit is one of them. (The others are Core Team, Copenhagen Living Lab, Brøndum and Fliess, and VIA Design.)
If you are interested in hearing more, or finding out what it could do for your business, please contact Rikke Bastholm Clausen, Senior Innovation Consultant, at Designit. Or contact your local Væksthus who are in charge of fund applications. Note that you can receive maximum funding of 50%. The rest of the expense is self-paid.
Carsten Bjerg, the Chairman of the Business Innovation Fund’s Board of Directors, says, “Denmark’s small businesses are comfortable with developing solutions and products for environmental and welfare sector. We want to strengthen and enhance that position. Therefore, we are now launching this program with grants for counselling that will support companies in developing new products and services and in entering new markets. Experience shows that good advice is worth its weight in gold. ”
We’re really looking forward to seeing what projects come our way, and getting the opportunity to help SME’s focus on innovation, and structured development of services, concepts and processes.