Access to finance

An overview of the finance programmes for small and medium businesses in Denmark.

Vækstfonden (the Growth Fund) is a state investment fund that offers a range of finance solutions to entrepreneurs and small to medium sized companies. The solutions range from equity capital to loans and guarantees. Vækstfonden offers financial aid for both the start-up and the development of smaller businesses. It can typically finance up to about 50% of a given activity. Vækstfonden has a broad range of financial products that are suited to different purposes.

Of these, the 'Get-started' loan is the most widely used.

Vækstfonden [DA]

Innovation

Innovation Environments offer development capital etc. for knowledge intensive entrepreneur businesses.

Following a pilot project, the Innovation Environments can help obtain capital e.g. through Vækstfonden, venture capital companies or private investors.

Contact addresses for innovation environments

Innovation consortia are collaboration projects between businesses, research institutions and technological service institutions.

The Danish Agency for Science, Technology and Innovation provides grants to finance these consortia.

Innovation consortia [DA]

The Danish National Advanced Technology Foundation develops and invests venture capital in high-tech projects.

Financing is offred in the ratio 1:2:3, where one sixth is the public share, one third comes from the private sector and one half comes from the Danish National Advanced Technology Foundation.

Small and medium sized companies may be offered up to 60% of their costs in funding.

The Danish National Advanced Technology Foundation [DA]

The Energy Technology Development and Demonstration Programme (EUDP) strengthens efforts especially within the development and demonstration of energy technology, thus supportingpolitical goals for energy such as utility security, a cleaner environment, cost efficiency and, at the same time, utilising and developing business potential in the industry.

Grantsfor projects aimed at the development and demonstration of energy technology are available.

The Energy Technology Development and Demonstration Programme (EUDP) [DA]

The EU's structural funds will contribute to strengthening regional competitiveness and employment throughout Denmark until 2013 and thus contribute to the implementation of the common European Lisbon targets.

Grants are given to projects, including private businesses, in order to strengthen regional competitiveness and employment in Denmark.

The Danish Enterprise and Construction Authority's information about regional development [DA]

Advice about business finance

A number of public and private agents advise on business finance in Denmark. The public sector provides advice and guidance under the auspices of regional incubation units, the homepage 'startvækst' and the state investment fund, Vækstfonden. In addition, a number of private agents and initiatives advise on finance, including the Danish Venture Capital and Private Equity Association (DVCA) and the business portal 'ivækst'.

Public advisory bodies:

The regional incubation units [DA]

The homepage startvaekst.dk [DA]

Vækstfonden [DA]

Private advisory options:

Danish Venture Capital and Private Equity Association [DA]

The homepage Ivækst [DA]

Business support organisations can advise businesses on how to find financing.

Business support — Denmark

Source: European Commission