Innovation district is central to government strategies for life science and entrepreneurship

The word “innovation” featured 67 times when the Danish Government launched its life science strategy on 31st October 2024. When the governmental strategy on entrepreneurship launched on 11th June 2024 the Minister for Industry, Business and Financial Affairs announced, that the Danish State would support an ambitious plan to lift Innovation District Copenhagen into the global league. With the two strategies adopted by the parliament (The Folketing) IDC now appears to have secured state support for the foreseeable future.

Life Science Strategy

The life science strategy aims to position Denmark as a global leader in innovative life science solutions by 2030. Innovation District Copenhagen is one of the means to achieve this, and the district will be developed in collaboration with innovation district-partners the University of Copenhagen, Rigshospitalet, and University College Copenhagen. This district will support research and patient care, contributing to Denmark’s life science exports.

Key points include:

• Streamlining knowledge and technology transfer.
• Enabling physical co-location between universities and businesses on campus.
• Strengthening incentives for researchers to engage with the business sector.
• Increasing R&D tax credits, encouraging investment in R&D.
• Enhancing the patent voucher scheme and establishing a fast track for intellectual property rights for entrepreneurs.
• Fostering a strong entrepreneurial culture among researchers and students at Danish universities.
• Directing funds to support entrepreneurship and commercialization of research.
• Enhancing the marketing of Danish life science.
• Creating a visitor center focused on clinical research and chronic diseases.

Start-up Strategy

The start-up strategy highlights the importance of converting high-quality research into new businesses and innovations. Denmark invests 3% of its GDP in research and development, with 1% from public funds. Innovation District Copenhagen will facilitate collaboration between universities and businesses to foster knowledge-based entrepreneurship.

A smorgasboard of improved conditions

Boosting Innovation District Copenhagen is central to the plans for creating more knowledge-based entrepreneurs in Denmark, but improving the district does not stand alone. In order to translate Danish research into new solutions for entrepreneurs and businesses, other

Key points include:

• Better access to capital and tax relief
• Reducing bureaucracy
• Attracting more talent
• More knowledge-based entrepreneurs
• More entrepreneurs across Denmark.

Unified Vision

The two strategies together aim to leverage Denmark’s research capabilities and entrepreneurial potential to drive economic growth. Innovation District Copenhagen is expected to play a crucial role in achieving these goals, providing a collaborative environment for innovation.
The government’s approach reflects a commitment to enhancing Denmark’s position in both life science and entrepreneurship, with Innovation District Copenhagen at the center of this effort.