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Denmark , One of the world’s leading robotics groups, created a new fund to financially support startups. The Odense Robotics StartUp Fund has a capital of DKK 18.4 million ($2.5 million) thanks to donations from some of the country’s most influential robotics investors and companies, as well as prominent business foundations.
The new fund aims to improve access to capital, unique sector knowledge and a strong incubation environment. The funding will be invested directly in at least 30 startups over the next six years. The investment is made in the form of a loan that the startup repays over time. Startups pay an additional amount if they are acquired. The payments generate revenue, which the fund then uses to support new startups.
The fund is open to applications from robotic and drone startups from Denmark and abroad. Aside from obtaining a loan, the startups are part of a world-class incubator at the Danish Technological Institute in Odense, providing office space and advanced technical equipment in an innovative environment focused on hardware development.
The capital of the Odense Robotics StartUp Fund consists of donations from the following:
- Iverson’s daughter
- Enrico Krug-Iversen – CEO of OnRobot and former CEO of Universal Robots
- Helge Monk
- Niels Joel Jacobsen – CEO of Capra Robotics and Founder of Mobile Industrial Robots (MiR)
- Ralph Astrup – Investor, former CEO, and co-owner of Cabinplant
- Thomas Visti – CEO and Founder of Visti Unlimited; former Chairman of the Board of Directors of Universal Robots; Former CEO of MiR
- Bitten & Mads Clausens Foundation
- CCN Holding A/S.
- Den Fabiersc Fund
- Entreprenør Marius Pedersens fond
- Novo Nordisk Corporation
- Grundfos Foundation
- Universal Robots A/S
“We made a donation to the Odense Robotics StartUp Fund because we want to contribute to the continued growth of the robotics ecosystem in Odense and Denmark,” said Enrico Krug-Iversen, CEO of OnRobot and former CEO of Universal Robots. “It’s about giving bot entrepreneurs better access to loan capital, professional support and quality facilities. By joining forces with other strong players, we hope to make a difference for generations of bot startups in the future. The bot community has given us this, so we feel we want to beautiful comment “.
Some of the fund’s founders will serve as mentors to startups.
“For us, it’s about giving back to the community we come from. But we’re not done yet making Odense the best robot city in the world,” said Kim Povlsen, president of Universal Robots. There are still many possibilities waiting to be realized. That’s why we’re contributing to the Odense Robotics StartUp Fund – so we can support future startups, not only financially but also through dialogue and mentoring.”
Danish robotics industry It grew by 12% in 2021. It achieved €2.8 billion (DKK 21.1 billion) in turnover in 2021, including €1.5 billion (DKK 11 billion) in exports. More than €900 million (DKK 6.7 billion) has been invested in robotics companies in Denmark since 2015.
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