How does it work?
To get approved you need to provide us with a business plan that our panel of independent experts can evaluate and understand on a detailed level. Remember, the expert panel needs to have a clear idea of your business in order to make the best possible evaluation.
Our goal is for your business plan to be evaluated by the expert panel within six weeks of submission. You receive the outcome of the expert panel’s evaluation from the Startup Denmark Secretariat.
When applying, you need to fill out an online form, in which you describe the business you intend to launch in Denmark, describe your product and tell us about the founders who are part of the application. You will also have to attach a business plan, pitch-deck or product presentation in which you present your ideas to the expert panel.
To determine whether your business is suitable for Startup Denmark, we need to know what business you intend to launch. Provide a brief presentation of your business as well as some general information. Keep it clear and precise. Why will your startup be successful in Denmark?
We need to know the development stage of the product you intend to base your startup on, whether it is a service, an app, a robotic arm or something completely different. Is it still just an idea or have you already developed a minimum viable product?
Not only do you need to come up with a great business plan, but you must also be capable of building a successful business in practice. It is therefore important that you show that you have the skills, competences and experiences needed to turn your business plan into a viable venture. When applying, you will need to tell us about the people behind your startup. Why can you or your team launch a successful startup in Denmark?
Attach your business plan, pitch-deck or presentation
When applying, you must attach a file. This can be your business plan, a pitch-deck or a product presentation. Use this opportunity to give our panel of independent experts an insight into your business and your plan to launch it in Denmark. We urge you to be as precise and on-point as possible. And remember, the additional files you upload must be in English.
The five evaluation criteria
The business plans are assessed by a minimum of three members of Startup Denmark’s independent expert panel. Assessments are based on scores from 1 to 5 given in relation to five evaluation criteria. To receive an approval, you need both at least 3.0 in average score for all five criteria and additionally at least 4.0 in the recommendation criteria.
The criteria are defined as follows:
How innovative is the business model?
The expert panel is looking for fundamentally smart business models that seize an opportunity and accelerate the development of a new market or industry. Applications are evaluated in terms of their level of innovation and introduction of new products, services or processes within their field.
How attractive is the market?
When evaluating the attractiveness of a market, the expert panel focuses on market size, commercial potential and barriers to entry. Additionally, the panel evaluates the level of competition in the market and how applicants plan to enter and address the market.
How scalable is the business model?
The expert panel selects startups with a clear potential to create jobs and growth in Denmark. For this reason, the panel values scalability. It should therefore be demonstrated that the business model is built to scale up, that it is highly expandable, and that it represents significant potential for growth.
How capable is the applicant or team?
Not only must applicants come up with a great business model, but they must also be capable of building a successful business in practice. The expert panel therefore assesses whether applicants have the skills, competences and experiences needed to turn their business plan into a viable venture.
Startup Denmark aims to attract growth-oriented, innovative and, ideally, tech-driven startups that bring ideas, networks and knowledge about new markets to Denmark. Consequently, the expert panel estimates the degree to which startups contribute to this goal. The recommendation score sums up the panel’s assessment of the first four criteria taken as a whole. It is thus an expression of the panel’s overall perception of the quality of the business plan and the applicant(s) behind it.