The entrepreneurial spirit must be strengthened and universities are part of the solution

This post is also available in: Danish

In the midst of economic uncertainty and dire predictions, Danish entrepreneurs are resilient. At the same time, universities and businesses are ready to transform Denmark into a powerhouse of innovation.

This is the message from Lone Ryg Olsen, Business Director at Aarhus University, and Freja Brandhøj, Head of Entrepreneurship Policy at the Danish Chamber of Commerce, who emphasize that universities play a crucial role in the entrepreneurial spirit in the ecosystem. They explain that universities have become vital laboratories for entrepreneurship, where research is translated into real-world solutions and new businesses.

Universities are crucial for academic entrepreneurship

One of the key roles universities play is to attract both researchers and students with innovative ideas and business opportunities. Last year alone, there was a 40 percent increase in the influx of researchers and students to the entrepreneurial hub‘The Kitchen‘ at Aarhus University, and today almost 500 entrepreneurs are developing their research-based business ideas in connection with the hub.

Examples such as biotech company Norfalk and AgroAnt, both rooted in Aarhus University’s entrepreneurial environment, illustrate the potential for academic entrepreneurship. Norfalk, founded by three chemistry students, has received millions in funding to develop sustainable ingredients for use in everyday products. Similarly, AgroAnt, a company started by scientists, has received significant investment for their innovative approach to combating plant diseases.

But to truly maximize potential, it takes more than just ideas and motivation. There is a need for financial support, a clear framework and close connections to the business community and investors, both Lone Olsen and Freja Brandhøj point out.

“We need to create financial incentives for researchers and universities to create new businesses, and at the same time, legislation needs to be adapted to support entrepreneurs, whether they are students or researchers.”

Three ways to strengthen the ecosystem

The Danish Chamber of Commerce and Aarhus University propose three specific points to strengthen the innovation ecosystem.

1. Create financial incentives for researchers and universities to create new businesses based on inventions and new technologies.

2. Adapt legislation to allow universities to test new methods of commercialization and support entrepreneurs, whether they are students or researchers.

3. Create transparency in the process of patenting and licensing through common agreement models and contracts. This will create a more predictable environment for universities, businesses and investors alike.

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You can read the original article on Aarhus University’s news page here: Entrepreneurship is challenged – how to strengthen the entrepreneurial spirit

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