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Case study (Central Denmark Entrepreneurship Fund, Denmark)

Description: 

This case study illustrates how the Central Denmark Entrepreneurship Fund (Midtjysk Iværksætterfond ‑ MIF), a financial instrument established in 2012 with European Social Fund (ESF), national public and private funding, supported new, knowledge‑intensive and innovative businesses in the Central Denmark region. Set up by the Danish Business Authority, the managing authority of the ESF Operational Programme ‘Regional competitiveness and employment’ 2007‑2013, the MIF provided incubator services as well as loans, quasi‑equity and equity, together with co-investors.

Investments through the financial instrument total EUR 15.4 million, supporting 211 jobs in 43 companies, of which 27 benefited from a coaching programme under Nupark Accelerace Invest and 18 were co‑investments with other private investors. The Accelerace six‑month coaching programme was a central element of success as, while it helped new businesses to develop their potential, it also gave the fund manager the opportunity to thoroughly assess the potential final recipients. 

In the case study there are more details of how the fund was set up, including establishing Nupark Accelerace Invest as a limited partnership to make it easier to co‑invest private and public funds. The set up also allowed MIF to also co‑invest directly, which increased flexibility and helped to speed up the investment process.

Country: 
Denmark
Responsibility: 
EIB