Taskforce recommendations to boost entrepreneurship

The Danish government's Task Force for Strengthened Knowledge and Technology Transfer has presented its recommendations to Minister for Higher Education and Science Christina Egelund and Minister for Industry, Business and Financial Affairs Morten Bødskov.

The recommendations have been met with great enthusiasm by IDA, whose President Laura Klitgaard calls them crucial steps for Denmark to move to the forefront of entrepreneurial countries.

‘Denmark must be a world-class entrepreneurial country, and that requires us to become much better at translating our excellent research into innovation, new businesses and growth in Danish industry,’ says Laura Klitgaard.

The IDA President particularly highlights the proposal for a standard framework for patent and agreement terms, which will ensure quality and faster processes when researchers want to start a business or collaborate between universities and companies.

At the same time, it is proposed that innovation work at universities be formally recognised as a new ‘third pillar’ on a par with research and education, and that universities be given better opportunities to support entrepreneurship directly on campus – including through premises at market rates and the possibility of co-ownership of risk-taking investment funds.

'These proposals could be crucial for Denmark’s growth and welfare. We know that entrepreneurs with a technological and scientific foundation grow faster, create more jobs, generate more revenue and export earlier than others. That is why it is crucial that they have better access to testing and demonstration facilities and that we have a stronger tech-trans environment' says Laura Klitgaard.

She also emphasises that Denmark and Europe face a strategic need for greater technological independence.

'This is not just about growth – it is about our ability to stand on our own two feet as a technological region. The food chain of deep tech entrepreneurs is crucial to Europe's independence from the US and China. That is why our researchers and students must have the best framework for taking their ideas from research to business – and for staying here in Denmark or Europe as they grow,' says Laura Klitgaard.

According to IDA, the task force's recommendations are perfectly in line with the government's long-term research strategy and the recent research reserve agreement, which allocated just under DKK 2 billion over the next four years to university innovation, test facilities and new entrepreneurial opportunities.

'Now it's a matter of turning the recommendations into reality. Denmark is among the best in technical research – from biotechnology to quantum research – but we also need to be world-class at turning research into growth companies. I hope that the recommendations can really help to make a difference,' she says.

Laura Klitgaard emphasises that we should also look at the opportunities further down the growth chain and how we can ensure better access to capital so that potential growth companies are not bought up by non-European investors.

'The lack of access to capital in the EU means that many companies have to seek investors outside the EU in the scale-up phase, which often results in start-ups subsequently moving their headquarters to the investor’s country and thus out of the EU. Here, it would be beneficial to look at whether the EU countries that hold large pension funds could start to ease up a little on their caution and invest a little more of their funds in more risk-taking research and innovation projects,' she says.