Value creation for Denmark

Innovation Fund Denmark invests every year in new knowledge based initiatives that create growth and jobs.

How can we help you?

Innovation Fund Denmark is willing to invest in your project even though others have yet to see the potential in it: We are ready to take a chance and run the risk in order to create growth and jobs in Denmark.

We are conscious of the use of “investment” in the funds we offer your project.

We do not require equity or return on our investment – our focus is on your project’s potential to create growth and jobs. Both before we invest and during the investment phase. That is why we closely follow your project from beginning to end to make sure that Denmark benefits from your project.

We strive to be accessible for you in a way that suits your needs – that we are a fund with the least amount of red tape and bureaucracy as possible and with a large degree of risk taking and capital.

Three investment entrances:

  • Societal Challenges
    Considerable investment in long-term projects/partnerships with focus on research, development and/or commercialization both nationally and internationally.
  • Innovation
    Companies/enterprises (SME), entrepreneurs or researchers with a good development plan.
  • Talent
    Research students, graduates with entrepreneurial ambitions or researchers with public/private research career ambitions.

Innovation Fund Denmark’s investment programs.

Our requirements from you

Your project must have the potential to create results in the form of new knowledge, growth or jobs.

The Innovation Fund Denmark’s overarching goal is that Denmark benefits from the money we invest in your idea. This means that your project can be terminated if results fail to materialize.

However, we are happy to reinvest in your project if your project demonstrates an ability to create a greater potential than initially expected.

Innovation Fund Denmark
Board, management and organization

Tina Fanø

Tina Fanø

Tina Fanø is chairman of Innnovation Fund Denmark and executive vice president of Novozymes, which researches, develops and manufactures bioindustrial products, especially enzymes and microorganisms for, among other things, detergents, food and animal feed. Tina Fanø joined the Board of Directors on April 1, 2019.

Tina Fanø on LinkedIn


Flemming Besenbacher

Flemming Besenbacher

Flemming Besenbacher is vice chairman at Innovation Fund Denmarkand Chairman of the Board of the Carlsberg Foundation and Carlsberg. He holds a professorship at the Interdisciplinary Nanoscience Center (iNANO) and the Department of Physics and Astronomy, at Aarhus University. Flemming Besenbacher joined the Board on the establishment of the IFD on 1 April 2014 for a three-year term.

Flemming Besenbacher on LinkedIn


Anja Boisen

Anja Boisen

Anja Boisen is vice chairman at Innovation Fund Denmark and professor of nanotechnology at DTU – Technical University of Denmark and joined the Board on the establishment of IFD on 1 April 2014 for a three-year term.

Anja Boisen on LinkedIn


Anne Skriver

Anne Skriver

Anne Skriver is Vice President of Innovation Dairy, Chr. Hansen A/S. Formerly, she served on the Board of the Danish Council for Strategic Research. She joined the IFD Board on 1 January 2015 for a three-year term.

Anne Skriver on LinkedIn


Anne-Marie Engel

Anne Marie Engel

Anne-Marie Engel is Head of Talent & Career Programmes in Lundbeckfonden and joined the IFD Board on 1 April 2017 for a three-year term.

Anne-Marie Engel on Linkedin


Stephen Alstrup

Stephen Alstrup

Stephen Alstrup is professor at the Department of Computer Science at the University of Copenhagen, and also has extensive experience from the private business community with start-up and management of several companies, most recently SupWiz, one of Europe's leading startups in the field of artificial intelligence. Stephen Alstrup joined the fund's board of directors on April 1, 2019 for a three-year period.

Stephen Alstrup på LinkedIn


Claus Jensen

Claus Jensen

Claus Jensen is Union President of the Danish Metalworkers’ Union and joined the IFD Board on its establishment on 1 April 2014 for a three-year term.


Lars Frølund

Lars Frølund

Lars Frølund is research director and visiting fellow at the Massachusetts Institute of Technology in Boston. He works daily with innovation in one of the world's leading research and innovation environments. Lars Frølund joined the board of the Innovation Fund on 1 April 2019.

Lars Frølund on LinkedIn

Law on Innovation Fund Denmark
Strategy and mission

IFD's purpose

Mission, vision and objectives.

Innovation Fund Denmark invests in cultivating and translating ideas, knowledge and technology for the benefit of Danish Society.

Entrepreneurship, partnership and an international outlook thrive so that ideas, knowledge and technologies are translated into viable businesses and innovative solutions for the benefit of society.



Innovation Fund Denmark's investments stimulate:

  • Growth and employment
  • Solutions to key societal challenges

The objectives are achieved by means of:

  • Innovation and technological advances
  • Interdisciplinary alliances
  • Thriving entrepreneurship
  • Research excellence
  • A dynamic international outlook
Code of Conduct, Disqualification, Conflict of Interest etc.

Requirements for responsible research and innovation

Responsible Research and Innovation (RRI) within Innovation Fund Denmark.

RRI aims to strengthen the links between research & innovation processes and results and societal values and needs.

Innovation Fund Denmark strives to advance RRI in both its overall strategies and via its projects and the Fund adheres to the European Commission’s definition and implementation of RRI.

We have designed our investment types and evaluation criteria in such a way as to encourage projects to focus on ‘societal commitment’ and ‘research training’. To that end, projects are specifically encouraged to:

  • Involve all relevant stakeholders and institutions in the research and innovation process
  • Cultivate a keen focus on future users
  • Engage in formal and informal cross-institutional research training

By involving all relevant stakeholders in the research and innovation process projects may potentially create more sustainable and long-term results. And by making formal and informal research training an integral part of the projects, they will not only generate research and innovation results, but also train the next generation of researchers.


Read Innovation Fund Denmark operational check list regarding conflict of interest

According to the Danish Public Administration Act you are disqualified relative to a specific case, if:

  • You have a particular personal or financial  interest in the outcome of a case or if you have represented any person in the same case with such interests.
  • You are married or closely related to a person that has particular or financial interest in the outcome of the case or represents any person with such interests.
  • You have previously – or in the current decision – have represented someone wo.
  • You are involved in the management of or are otherwise closely associated with any company, partnership, association or other private legal entity with a particular interest in the outcome of the case;
  • The case concerns a complaint about or exercise of the control or supervision of another public authority, and the person previously served with that authority and assisted in making the decision or implementing the measures at issue in the case; or
  • There are other grounds for questioning your impartiality (see below)

In addition the Public Administration Act, Innovation Fund Denmark has adopted the following principles for disqualification on a decision pertaining to a case. In questions where doubt arises regarding, disqualification, the person in question will leave the room while the question is decided.

If employment at the same public organization (faculty, research unit, institute etc) as the applicant, you are disqualified if:

  • The application is within the same research area as yours.
  • You are in a management position at a public organization (Dean, Rector or similar) or member of a managing body of a public organization, factuly, PH.D school, Institute etc and the public institution in question is an applicant or a person in the application is under your management.
  • The applicant/case has importance for your place of employment, your personal employment or research groups you participate in or recently was a part of.

In employment (including management and board positions9 in the same private unit as a participant of an application, you are disqualified, if the the application has importance for your private unit.

In case of application round with 10 or less applicants

  • You are disqualified in relation to an application, you will also be considered disqualified in relation to the other applications if 10 or less applications are competing. If the application you are disqualified for is ruled out of the application process, you can participate in the decision of the remaining applications.
Impact Assesment and Evaluation of Innovation Fund Denmark

The aim of Innovation Fund Denmark is to create growth, jobs and solve societal challenges. These goals are affected by various factors and are therefore difficult to measure. This text outlines Innovation Fund Denmark’s approach to impact measurement of investments.

Innovation Fund Denmark invests in research and innovation projects with a view to strengthening growth and employment in Denmark and to solve societal challenges. A main precondition for this is documentation of the fact that the projects produce a social return, which both in the short and long run creates value for Denmark. Therefore, in June 2016 Innovation Fund Denmark issued a publication offering insight into how the fund monitors, measures and documents the impact of investments.

Measuring the social return of individual projects accurately is a complex task, as the results may be multifarious and affected by external factors. The fund’s publication on impact measurement therefore describes to the greatest extent possible the fund’s approach to impact measurement by outlining the methods the fund has found to be the most relevant based on national and international research and in cooperation with the OECD.

Contrary to private-sector companies, Innovation Fund Denmark does not have a bottom line that clearly shows whether investments have been profitable. Various factors affect the companies’ and research institutions’ activities and thus the effect of projects invested in by the fund. Depending on the category and size of investments, the fund therefore explores the individual projects to determine their impact – e.g. through interviews with the companies, universities and users of new solutions. On a general level and within other project categories the fund performs quantitative analyses of projects. In addition, the publication also mentions a series of associated effects of investments made by the fund. E.g., research and innovation projects based on funds subject to competition contribute to strengthening the innovation and entrepreneurship culture in Denmark.

At project level, it is the fund’s ambition to see the companies that participate in projects grow and experience significant increased value creation. Find more information under objectives and indicators. At the same time, the aim is to see research results lead to innovation in the future. Impact measurement in Innovation Fund Denmark is an ongoing process, and the fund focusses on collecting and measuring the impact of its activities in close cooperation with Danish and international collaborators with a view to documenting that its investments have a positive effect on society.


Privacy policy

It is paramount for Innovation Fund Denmark to protect personal information data and we apply and adhere to all current regulations and laws.

Privacy policy for Innovation Fund Denmark.

Whistle Blower

The Innovation Fund Denmark’s whistle blower scheme provides employees and others with connection with the Fund the possibility to report suspicion of illegal, unethical or irresponsible behavior that conflicts with the Funds regulations or values. All reports go with full anonymity to the Fund’s legal representation at Kammeradvokaten/Poul Schmith.

Report here.

Open Access Policy

To create free access for all citizens, researchers and companies to all research articles from Danish research institutions financed by public authorities and/or private foundations.

Denmarks National Strategy for Open Access (PDF)

Addresses and phone number

Phone: 61 90 50 00

(9.00 a.m. - 3.00 p.m.)



Europaplads 2, 4. sal
8000 Aarhus C

Østergade 26 A, 4. sal
1100 København K

Cortex Park 26
5230 Odense M

Niels Jernes Vej 10
9220 Aalborg

Press contact

Head of press and media, Jens Bomholt
Phone: +45 61 90 50 45


EAN: 5798000432864

CVR: 29035695

Logo and guidelines
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Guidelines for mentioning investments where Innovation Fund Denmark participates

When referring to projects with investment from Innovation Fund Denmark, the people involved must always ensure that it is clear that this is a project together with Innovation Fund Denmark.

The English term is: Innovation Fund Denmark

When Innovation Fund Denmark is mentioned on websites, publications, presentation plans, brochures and the like, please use the official logo.

Please refer to Innovation Fund Denmark's website with the following address:

By mention in articles, Powerpoints and other forms of documentation. Please use the following text:

Acknowledgments: «This work is partly funded by the Innovation Fund Denmark (IFD) under File No. ___. "

Everyone can avail themselves of the following fact boxes about Innovation Fund Denmark as needed:

Innovation Fund Denmark
Innovation Fund Denmark invests in the development of new knowledge and technology creating growth and employment in Denmark. The Fund focuses on societal challenges, strengthens research and increases innovation commitment within private companies.

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