NOTE: The call text is updated on May 15th
Application deadline: 18 August 2020 at 12:00 CET
Grand Solutions project duration: Typically 2-5 years
The 2020 budget is approx. DKK 50 mill.
Innovation Fund Denmark invests in ambitious and targeted strategic research and innovation projects that create new solutions, technologies and valuable new knowledge.
Innovation Fund Denmark is willing to share a significant risk with the project partners, when the level of knowledge, value creation, project efficiency and implementation of the results is correspondingly high.
IFD's objective within the “open call” is to invest in projects based on a brilliant idea with a great potential for value creation and to strengthen unusual and value-creating research and innovation projects.
With the “RESEARCH2025” inspirational catalogue, the “2020 Finance Act” and the “2020 Agreement on Allocation of the Research Reserve” as starting points, investments are made in innovation projects within all professional disciplines not limited by past or present theme specific Grand Solutions calls.
IFD invests in projects at all stages of the research and innovation value chain. Thus, IFD invests in the good project that is close to market but still needing research, development and innovation activities as well as the early strategic research project where targeted efforts and cooperation with the most competent international and/or Danish partners from relevant professional disciplines are crucial.
IFD's investments do not always take a project all the way through the innovation value chain. Therefore, it is crucial that the project partners themselves have the ability to lift the result onto the market or ensure implementation in society - or have investors who can invest in, or take over, the project after IFD’s investment period.
IFD favours innovation projects with a focus on increased private or public productivity within e.g. administrative, service and financial disciplines and encourages consideration of e.g. new, disruptive or unconventional business models that will ensure the value creation of the project.
IFD invests in value creating innovation within social science and humanities, as it is IFD’s experience that value creation often cannot be provided by technological solutions alone. Behavioural aspects, incentive models, regulation and market aspects are examples of often important aspects in successful innovation projects.
The overall assessment criteria are:
- Quality of research and innovation
- Value creation during and after the project period
- Efficiency of project execution
- Implementation of results
In connection with applications for the Grand Solutions 2020 "open call", value creation is to be understood in broad terms as targeted innovation activities that lead to increased growth and employment through e.g. development of new products and services, creation of more and more intelligent jobs, increased productivity, fewer societal costs, reduced resource consumption or climate- and environmental impact as well as to solutions to major societal problems. The value creation of the project will be assessed in relation to the size of the investment.
The partners must account for the specific and preferably quantitative value creation of the project. Value creation should not be understood as just monetary value, but may also be e.g. increased quality of life, cleaner environment, contribution to CO2-reduction, etc. It is the applicant's responsibility to account for the different types of specific value creation.
From IFD's side, great emphasis will be on the potential of the project to create measurable value for Denmark and the Danish society. The project potential must be significant and result in new solutions or products, e.g. by development and use of new unconventional business models, methods, contribution to better regulations, etc.
Specifically, the applications will be assessed based on the qualities of the project in terms of research and innovation in a global perspective in relation to an articulated or latent need, state-of-the-art, directly competing or closely related scientific or technological solutions, the scalability of the solution, technical, regulatory and market risks, the risk management of the project plan as well as feasibility. In addition, the development rate, the effective use of invested resources, managerial and professional skills and the subsequent effective implementation of the project results nationally and/or globally will be carefully assessed.
Finally, it is weighted that the project's beneficiaries/end-users and core stakeholders contribute to the formation of the project, participate in the project or are otherwise directly involved in the project, e.g. through investments.
In addition to the above assessment criteria, reference is made to “Guidelines for Grand Solutions” (published 12 December 2019). Allocation of funds will be made on the basis of the “2020 Finance Act” and the “2020 Agreement on Allocation of the Research Reserve”.
Selected projects are invited to interviews taking place in November 2020. Applications not invited for interviews and thereby rejected will be notified in October. Final decision on the application is notified in December 2020 with project start in Q1 2021.
Grand Solutions is aimed at collaborative projects based on excellent research focused on solutions of considerable societal value. Based on societal and business challenges, opportunities and innovation needs, Innovation Fund Denmark wants to enable cross-disciplinary investments in knowledge institutions and companies – private as well as public.