Missionsbooster is a special programme under Innovation Fund Denmark running through the autumn of 2022 (August 16th 2022 to December 16th 2022). The programme supports projects that contribute to solving the green challenges of the future within one of four selected, so-called "missions" (these are described below). Missionsbooster funds can be allocated to innovation projects and are referred to as industrial research.
Your project must contain a significant application of new knowledge for your company, and the project must involve a Danish university or GTS institute as a knowledge provider and may further involve other relevant knowledge institutions or private knowledge companies.
The possibilities with Missionsbooster
A successful application for Missionsbooster gives you:
- Between DKK 1.5M and DKK 5M without giving up equity
- Up to 70% of the costs of your innovation project are covered
Requirements for your application
To be considered for Missionsbooster, you must have a Danish CVR number and be able to show a gross profit in the most recent accounting period of at least DKK 250,000 or be able to document external capital investment amounting to at least DKK 100,000 within the last three years.
Missionsbooster places great emphasis on your project contributing with an innovative, green solution, with great business potential within one of the four missions:
- Capture, storage and use of CO2
- Green fuels for transport and industry (Power-to-X etc.)
- Climate- and environment-friendly agriculture and food production
- Circular economy with a focus on plastics and textiles
In addition, it is a requirement that you involve a Danish university or a GTS institute as a knowledge provider in your project, to ensure a high level of knowledge.
The assessment criteria
Missionsbooster evaluates your application based on the following three criteria:
- The quality of the idea: What is innovative in the idea? What difficult knowledge-challenges must be overcome in the project? What new knowledge does the company gain through the project collaboration with the university or GTS institute? What does the project do for industrial research? What are the results of the project?
- Impact: Is it probable that there will be paying customers for the finished solution? Does the company gain a significant knowledge and competitive advantage? How does the project support the company's business model? Does the project result in significant growth, exports and employment in Denmark? Is the risk coherent with the investment size? Does the project help to meet the goals of the mission it falls under?
- Quality in execution: Has a clear activity plan been prepared with milestones and success criteria? Is the project realistic in practice? Does the company have money to finance their share of the budget? Does the company have the right team to complete the project? Is it clear how the university and the GTS institute are involved? Is there a connection between activities and budget?
The larger the amount you apply for, the greater the requirements the fund places on the project in relation to the assessment criteria.
The application process
Applications for Missionsbooster fall under the Block Exemption Regulation. Your application will undergo an administrative check, after which it will be assessed by two of Innovation Fund Denmarks consultants. If they assess that the application is good enough, you will be invited to present your project to the Missionsbooster panel, after which you will receive a commitment or rejection.
Missionsbooster processes applications on an ongoing basis. From the time you submit the application until you (possibly) have a grant commitment (including panel meeting participation) will take 10-15 weeks.
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