Exploring Space Funding Opportunities in Denmark
EIFO: Powering business Growth in Space
The Export and Investment Fund of Denmark (EIFO) is the unified gateway for Danish companies to access state-backed risk capital financing. EIFO supports companies aiming to innovate, scale, and expand globally. As a partner for space businesses, EIFO provides tailored financial solutions, including loans, guarantees, and equity investments. EIFO has a mandate to invest in high-level research based companies of high commercial and societal value.
Key opportunities for space companies:
- Expansion financing: EIFO helps companies scale operations by providing financial backing for infrastructure, R&D, and market expansion.
- Export guarantees: Danish companies exporting space technologies or solutions can mitigate risk with EIFO’s export guarantee programs.
- Collaboration incentives: EIFO facilitates partnerships between international and Danish companies, fostering joint ventures in space technology development.
Innovation Fund Denmark: Driving Space R&D and Innovation
Innovation Fund Denmark is the country's leading organisation for funding innovative research and development projects. With a focus on creating solutions to global challenges, the fund offers several programs tailored to the space sector.
Key programs for space companies:
- InnoBooster: Aimed at small and medium-sized enterprises (SMEs), InnoBooster provides grants for high-potential innovation projects, such as developing cutting-edge satellite technology or sustainable propulsion systems.
- Grand solutions: Large-scale projects that involve collaboration between academia, industry, and government are eligible for significant funding through this program.
- InnoMission: Focused on targeted innovative missions, this program supports projects addressing global challenges, such as climate monitoring and space-based communication.
European Investment Bank (EIB): Funding Space Ventures Across Europe
As the lending arm of the European Union, the European Investment Bank (EIB) plays a vital role in financing space projects that align with Europe’s strategic priorities. EIB offers companies access to significant funding for space-related ventures.
EIB opportunities for the space sector:
- Innovation financing: EIB supports projects involving advanced space technologies, from satellite design to space exploration tools.
- Sustainability initiatives: Companies focusing on sustainable technologies in space can benefit from EIB’s emphasis on green innovation.
- Blended finance options: The EIB often combines grants, loans, and equity investments to provide comprehensive financial solutions.
The EIB works closely with Denmark’s innovative ecosystem to ensure space projects are well-integrated and globally competitive. By partnering with Danish stakeholders or establishing business in the country, international companies can tap into this synergy to amplify their projects.
Why Denmark? A Thriving Space Ecosystem
Denmark’s space sector is supported by a collaborative approach known as the triple helix model, which integrates academia, industry, and government to drive innovation. The country’s commitment to space research is further reinforced by its recent National Space Strategy, which includes ambitious plans for increasing ESA contributions and funding four national space missions over the next decade.
Aalborg: Denmark’s Space Innovation Hub
Known for its world-class engineering university and vibrant tech ecosystem, Aalborg is at the heart of Denmark’s space sector. Companies setting up in Aalborg can benefit from:
- A highly skilled talent pool.
- Advanced test facilities for space technologies.
- Proximity to key players like Space Inventor and Sternula.
DTU Space, Denmark’s biggest space research institute
- More than 210 scientists, PhD students, experts and staff.
- Hosts the HQ of ESA BIC Denmark and has a strong commercialization focus that involves private actors.
- Existing industry collaboration with NASA, ESA, JAXA and a group of international and Danish companies
Don’t Be Shy to Apply: How International Companies Can Access Space Funding in Denmark
Establishing a business in Denmark opens up several funding opportunities to help you grow your space-related ventures. Here’s how international companies can tap into key funding programs:
- Connect with EIFO: EIFO offers a variety of risk-tolerant financing options. As a foreign company operating in Denmark, you can access EIFO’s loans, guarantees, and partnership programs designed to support innovation and business development in high-tech sectors like space. Start by initiating a conversation with EIFO about how they can tailor their support to your needs.
- Apply for Innovation Fund Denmark Programs: The organisation offers grants and funding for research and development (R&D) projects. If you're working on ground-breaking space technologies, the fund can support both your individual R&D efforts and collaborative projects with academic or industrial partners. This can be an excellent opportunity to secure financial backing while advancing cutting-edge innovations.
- Partner with the European Investment Bank (EIB): By tapping into the EU’s funding landscape, international companies in Denmark can also benefit from the European Investment Bank’s initiatives. The EIB provides loans and guarantees to enhance the capacity for high-tech, high-growth sectors like space, offering opportunities for collaboration and access to substantial financial resources to scale your operations.
These funding channels can help you leverage Denmark’s robust space ecosystem and secure the financial resources needed to grow your business and drive innovation. With Denmark’s strong support for the space sector, both from government and international entities, there are numerous pathways to success for international companies looking to make their mark in the space industry.