Spin-outs Denmark enters new phase with DKK 115 million in funding

How do we ensure that more of Denmark’s strongest research is translated into new solutions, jobs and companies? 
 

That question lies at the heart of Spin-outs Denmark, which is now entering a new five-year phase with up to DKK 90 million in combined funding from Villum Foundation and Innovation Fund Denmark, complemented by a further approximately DKK 25 million from a consortium of Denmark’s eight universities. 
 

From research to new companies 

The initiative was launched in 2021 as a nationwide collaboration between the Danish universities and Villum Foundation, with the aim of giving researchers better opportunities to turn their knowledge into research-based companies. The results have been striking. Of the 55 researchers supported so far, 20 have gone on to establish companies that have already attracted investment and additional research funding. 
 

Now, the effort is being scaled up. 
 

“Spin-outs Denmark was created to support early-career researchers who combine a concrete idea rooted in excellent research with the courage to explore entrepreneurship and the commercialization of their findings. With the new funding, we can build on the experience from the first years and strengthen our work to develop the next generation of research-based entrepreneurs,” says Søren E. Frandsen, Chair of the Steering Committee behind Spin-outs Denmark. 
 

Greater scale and stronger collaboration 

In the new phase, up to 82 grants will be awarded to researchers at Danish universities. Innovation Fund Denmark will also join the collaboration, contributing its experience in early-stage commercialization through its InnoExplorer programme. 

“Through this collaboration, we strengthen the link between strong research and direct societal impact. The interaction with Spin‑outs Denmark gives more researchers the opportunity to develop the entrepreneurial skills that can be crucial for advancing their research. The aim is to increase the impact of the foundation’s investments and contribute to the creation of more research‑based companies that generate value for society,” says Cecilie Brøkner, CEO of Innovation Fund Denmark. 

According to the Villum Foundation, the breadth of the collaboration is a key factor. 

“The programme has demonstrated how much can be achieved when universities work closely together on research-based innovation. Together with Innovation Fund Denmark and the universities, we are now strengthening the overall effort to bring more basic research into play for the benefit of society. This is not only about more funding, but also about greater coherence in the innovation system,” says Thomas Bjørnholm, Chief Scientific Officer at Villum Foundation. 

The new phase will also focus on creating a more diverse innovation environment, with the aim of supporting more female research-based entrepreneurs. This will include targeted attention to barriers in the processes where ideas are pitched, assessed and financed. 

Spin-outs Denmark continues as a collaboration between all eight Danish universities.