Since 2011, the Danish Foundation for Entrepreneurship has awarded Micro Grants to students with startup ambitions. In 2011-2013, the Micro Grant initiative was a pilot project. In 2014 and 2015, the Foundation continued and scaled the initiative with different partners: Danish Business Authority (Erhvervsstyrelsen), Innovation Fund Denmark and Green Business Development. From 2016 the Danish Foundation for Entrepreneurship continued the initiative on its own. In 2016-17 private actors UPS, DANA and Nordea Startup Fund also co-financed the initiative. Micro Grants are awarded three times a year.
Currently, the awarding of micro grants is supported by Bristol-Myers Squibb and Tuborg Foundation: Tuborgfondet (Danish site). In 2018, the Tuborg Foundation, together with the Danish Foundation for Entrepreneurship, started a new Micro grant initiative of awarding Global Goal Micro Grants. These micro grants will be given to entrepreneurs who contribute with ideas that help solve global challenges. Read about Global Goal Entrepreneurs here (Danish site).
More than 1400 applications in 2011-2018 have resulted in 403 grants
From 2011 to 2018 the Foundation received 1452 Micro grant applications, corresponding to approx. DKK 50m, from students and PhD students from Higher education as well as students from youth education. In this period the Foundation awarded 403 grants in total, corresponding to DKK 13,5m.
The goal is to strengthen growth and employment
The Micro Grant initiative aims at strengthening economic growth and employment in Denmark. By contributing a small economic aid to students' early startup of their own business, the long-term goal is to create growth companies that contribute with jobs, export income and growth in society.
The Micro Grant scheme gives practical experience after finished education and raises awareness about entrepreneurship
Micro Grants are meant to have a catalysing effect when they are given after, or along with, the entrepreneurial competences which pupils or students learn during their education and/or in extracurricular activities at their educational institution. The Micro Grant moreover gives the pupils/students the opportunity to gain valuable experiences with entrepreneurship. From our impact assessments we know that such experiences very much influence their desire to become entrepreneurs. At the same time, the purpose of the initiative is to raise a positive awareness about entrepreneurship and talented entrepreneurs at the Danish educational institutions. Here the Micro Grant recipients often function as role models for their peers.