Denmark is expanding it’s government support of startups: Markedsmodningsfonden, the Market Development Fund, has announced that they will be giving funding totalling over €6.5 M to 19 innovations.
The funding is as grants, without any equity stake. The aim of the Market Development Fund is to help startups and enterprises bring new products to the market faster and making it easier for public-sector institutions to obtain innovative solutions. The funding goes to both biotech, cleantech and ICT innovations.
“The latest round of application testify that we in Denmark are skilled to develop good, innovative products – especially in health technology. It is positive for both the welfare and growth, because in the future of health care will be fewer hands to take care of an increasing amount of patients” says Carsten Bjerg from the fund.
Receiving the funding also requires to be partially financed by other sources. In total the Market Development Fund has € 18 M which are granted in 3 phases.
19 PROJECTS GOT FUNDING
Amongst those that got funding are both new startups as well as established ones.
- Inrotech – 3D Adaptive Multipass Welding – € 295 000
- Traede – B2B sales software – market maturation of an innovative and disruptive Retails/B2B trading software – € 415 000
- Immudex – better treatment for Virusinfections – € 400 000
- Penneo – Protecting cloud data against hacking – € 616 000
- Monsenso – Data-driven mHealth platform for treating mental illnesses – € 388 000
- Conferize – Digitalising events and conferences – € 530 000
- EasyCorrect – A tool for helping teachers – € 240 000
- FirstAED – A smartphone based emergency system – € 295 000
- Dripmate – Developing a infusionsregulator – € 280 000
- Kroma – Creating a better fish slaughtering plant – € 450 000
- Nordic Power Converters – Making LEDs more efficient and longer lasting – € 280 000
- Manuxa – Aid for people with grip deficiencies € 470 000
- H.E.W. – Efficient cleaning of supermarket carts – € 240 000
- Voiceboxer – Multilingual Webcast Solution – € 250 000
- MySharps – the smart personal pocket container for disposal of used insulin pen needles – € 200 000
- Planday – Taking employee scheduling online globally – € 316 000
- SiloSense – Making estimations of silos better – € 385 000
- TableBox – A box that enables dining without a table – € 250 000
- VoxIP – Making international roaming cheaper – € 280 000
The entire list with further information and co-financing details can be found here.
