Denmark’s Ministry of Overseas Affairs performs a job in attracting overseas firms to ascertain a presence within the nation, whether or not that be a analysis and growth centre, a regional headquarters or a gross sales workplace, and Invest in Denmark is the a part of the ministry tasked with doing that.
“Our job is to draw overseas firms to Denmark,” says Andreas Clausen Boor, group chief for the tech group at Spend money on Denmark. “And if they’re , we help them. We introduce them to the fitting clusters.
“We additionally attempt to assist whole industries when these industries are thought of strategic. For instance, we encourage the event of ecosystems, particularly for up-and-coming sectors, akin to quantum computing, that aren’t but totally developed.”
One space the place Denmark stands head and shoulders above different European nations, in line with the World Bank report, is within the ease of doing enterprise. For all of the eight years that the report has been revealed, Denmark has ranked the best in Europe on this respect.
One component that’s significantly attention-grabbing for startups is Denmark’s extremely versatile labour legal guidelines. The federal government makes it simple to scale back the workforce, whereas on the identical serving to staff to develop abilities for his or her subsequent positions. These legal guidelines observe what is usually generally known as a “flexicurity” mode – a excessive diploma of flexibility for employers, together with a excessive diploma of safety offered to staff by the federal government.
“This mannequin is necessary once you enterprise into investments overseas,” says Boor. “You actually don’t need to get caught in a scenario you may’t get out of.
“As a rustic, we take into account it necessary to have a talented workforce. Though the variety of potential employees is proscribed by the small Danish inhabitants, the ability degree may be very excessive – not simply by way of analysis at universities, but additionally by way of the graduates that go to work in firms.”
Boor provides: “We’re superb at cooperation usually, and that’s necessary when you’re establishing ecosystems. Typically, there may be sturdy cooperation between analysis institutes and companies.
“As a result of we’re a small nation, we all know that to compete, we should be tremendous modern. After all, for that, you want superb researchers and the power to take that analysis and feed it into options that may be delivered to market. Denmark is already fairly good at that. Right here at Spend money on Denmark, we assist firms to community with members of the native analysis group.”
Though overseas firms are unlikely to develop their consumer base considerably, given Denmark’s small inhabitants, there are some issues which are very enticing about Danish customers. Denmark is likely one of the most digitised nations on this planet, ranked fourth within the Worldwide Institute for Administration Growth’s World digital competitiveness ranking 2021.
“The excessive diploma of digitisation makes Denmark an excellent vacation spot for firms that need to develop user-friendly know-how,” says Boor. “All Danes use know-how every single day – and plenty of achieve this many of the day. They impart not solely with one another, but additionally with firms and public entities. This makes it an excellent marketplace for firms to check their options.
“One other key promoting level is that it’s a lot simpler to be sustainable in Denmark due to the entry to inexperienced, clear vitality. Whereas that is true for all industries, it’s significantly enticing for anyone with a datacentre, as a result of they use an unlimited quantity of electrical energy. Denmark has different programmes for sustainability – for instance, warmth exhaust is fed again into district heating techniques.”
The Danish authorities tries to give attention to sure strategic industries – these the place Denmark has a analysis benefit or the place the abilities degree is excessive. There are additionally sectors the place the nation wish to develop experience to have the ability to export sooner or later.
“We now have some export methods for tech usually,” says Boor. “Once we export tech options, it’s very often associated to govtech, as a result of we’re tremendous sturdy at that. That’s an space the place we are able to compete with most nations in Europe.”
Robotics and drones
Robotics and drone know-how are additionally huge areas for Danish innovation. These applied sciences are centered within the space round Odense, the place the time period “cobot” was invented in reference to collaborative robots, which assist individuals to do their work, like a co-worker.
“Usually once we consider robots, we consider these big meeting strains,” says Boor. “However that’s not what they’re doing in Odense. They’ve developed the know-how that you would be able to apply to nearly any setting the place a human being wants assist to do repetitive duties.
“They’re doing robotic arms, for example, which are tremendous superior and use AI [artificial intelligence]. Let’s say you’re working as a biochemist, and you need to put these molecules right into a flask – and it’s worthwhile to try this repeatedly. The robotic arm will try this for you.”
Boor provides: “There’s additionally a really sturdy drone setting centred round an airport in Odense that’s now used for drone testing. It’s a distinctive place in Europe, the place you may fly drones past line of sight. That’s not allowed in most locations.
“We even have a aggressive edge in AI, within the fintech sector and in quantum computing and quantum applied sciences usually. After which there may be sound engineering. There’s a very sturdy custom of sound engineering in Denmark, not simply audio system and listening to aids, however tremendous sophisticated sound options the place you may measure all types of issues with the acoustics.”