Innobooster

Innobooster purpose is to increase the company’s competitiveness and create growth for Danish society—grants for companies and entrepreneurs who want to initiate an innovative, knowledge-based development project.

Knowledge-based development projects result in a new solution that is in demand by a defined brand. The subsidy can cover salaries for existing and new employees’ hours and in addition also expenses for knowledge suppliers as well as equipment and materials.

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Eligibility

Applicants for Innobooster are:

• Small & Medium Business
• New, promising start-up companies

The company must meet EU SME requirements, which means your company has:

• less than 250 employees
• an annual turnover of no more than DKK 50 million. EUR, or an annual total balance of max. EUR 43 million

• Small & Medium Business
• New, promising start-up companies

The company must meet EU SME requirements, which means your company has:

• less than 250 employees
• an annual turnover of no more than DKK 50 million. EUR, or an annual total balance of max. EUR 43 million

External venture capital is:

• Cash deposit or convertible unsecured loan in the company from another legal entity within the last three years.
• Grants from other public or private programs where these funds are invested in specific development activities in the company, eg funds from Innofounder or Innoexplorer.

Venture capital is NOT :

• Loans from banks, loan capital intermediary institutions or loans from owners where there is a requirement for priority and agreed and initiated business / repayment.
• In-kind hours used by founders or other non-monetary deposits

Innobooster cannot grant grants to companies that:

• is under compulsory dissolution, bankruptcy, voluntary liquidation or suspension of payments
• is owned by more than 50% of state, regions or municipalities
• receives operating grants from public institutions for more than half of the turnover

Benefits

You can apply from DKK 50,000 and up to DKK 5 million. Innobooster’s contribution can amount to a maximum of 35% of the projects’ total expenses. The remaining part is covered by the company itself.

Application Process

Your application must be created and submitted via the electronic application system e-grant.

You must register as a user of the system with either a username and password or with NemID before you can create an application.

You create a new application by finding the correct entry under “Search options” and pressing “Start your application”.

Select the frame for the amount you want to apply for:

• 50,000 – ca. 1,5 mio. DKK (200.000 EUR)
• 1,5 mio. – 5. mio. DKK

Note that the list of search options is sorted alphabetically, and that the names of all notices from the Innovation Fund start with “IF”.

You must write your application in either Danish or English.

You can find a guide to the e-grant on the Ministry of Education and Research’s website

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SOURCE https://startupxs.com/fund/innobooster/