The Danish Tech Challenge is in full swing. It's DTU Science Park's growth program and competition, in which 15 hardware startups are working hard to create a strong foundation for their businesses while competing to see who can develop their business the most during the program.
The program began in September and lasts five months. To participate, companies must work with a physical product, be ready to fully commit to their business, and meet in person at DTU Science Park in Lyngby at least once a week.
Finally, the 10-12 startups that have developed the most are selected for the semi-finals, where six companies advance to the finals and pitch their ideas at a large award show. The winner is selected by an external jury and receives the Jyske Bank Innovation Award and a prize of DKK 500,000.
However, the first prize is not the main purpose of the program according to Mads Rømer Svendsen, Program Manager for Danish Tech Challenge:
"First and foremost, we want all companies to develop. Many startups have a promising product but lack experience in building a sustainable business. We provide them with tools, skills, and experts so that they move in the right direction and have a better chance of entering the market," he says before continuing:
"We would also like to give our Danish Tech Challenge stamp to the startups that complete the program. The stamp shows that we at DTU Science Park can vouch for the quality of the companies, so that potential investors know that the companies have their house in order."
