From Knowledge to Growth in Silicon Valley by Denmark in Silicon Valley

From Knowledge to Growth in

Silicon Valley Cases from Innovation Centre Denmark Silicon Valley

Convening

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ith ~60% of GDP and every fourth job related to exports, Denmark is highly dependent on robust internationalization efforts. To build, maintain and improve the national ability of internationalization, the value chain of business promotion must strive towards excellence within several disciplines. The current Danish business promotion strategy builds on such as access to talent, entrepreneurship, sustainability, innovation, digitalization and internationalization. Denmark has developed a coherent road map for businesses vis-a-vis the Danish business promotion system that emphasizes the importance of having innovation centres distributed around the world. Silicon Valley is agenda-defining within innovation and entrepreneurship. With a long history of having an entrepreneurial mindset, the ecosystem of Silicon Valley is on most parameters second to none. The access to complete and competing value chains of venture capital, assessed to be ~40% of the combined global venture capital, and new discoveries and talent from more than 280 Californian universities and colleges, makes Silicon Valley a convening power over and above any other entrepreneurial ecosystem of the world.

wer As an innovation centre, we contribute to the realization of national ambition through the guiding principle, “From knowledge to growth.” We support individual businesses, research and educational institutions, and public and private organizations with partnership building, international readiness, innovation, entrepreneurship, and access to capital, talent and technologies. We support decision-makers with market analyses, insights into industries, technology trends and developments. We support organizations and institutions with foresight studies about the future of relevant industries, technologies, ecosystem components and current themes and agendas. We aim to be transformative and value-adding for all our stakeholders. At Innovation Centre Denmark Silicon Valley, we support stakeholders that seek to engage with the future and the innovation drive and capacity of Silicon Valley. In the following pages, we have assembled our value proposition and cases, demonstrating how we deliver value to our partners. More can be found on our website: https://siliconvalley.um.dk/ WELCOME TO THE ENTREPRENEURSHIP CAPITAL OF THE WORLD AND INNOVATION CENTRE DENMARK IN SILICON VALLEY Denmark in Silicon Valley – Watch a short video presentation of our work

What do You Need? I

nnovation Centre Denmark (ICDK) assists with your internationalization needs and challenges. Consider us your outpost in the heart of the most entrepreneurial ecosystem in the world. We assist based on demand, but focus our expertise on the strategic areas of Entrepreneurship, ClimateTech, HealthTech, Digital Technologies and Research & Education. We can help you with: ACCESS TO SILICON VALLEY Do you need to connect with worldclass university research, establish technology partnerships, and get access to venture capital, sales channels or accelerators? Or do you want inspiration on digital business models? The booming Silicon Valley ecosystem can assist you in growing your idea, your business and your network — and we can open the doors.

ADVISORY SERVICES AND STRATEGIC PARTNERSHIPS Could you use specific input on relevant technologies, market knowledge and industry analysis? Or is your company looking to boost your innovation capacity? We can assist with tailormade advisory services on a short-term basis — or as long-term strategic partners in your innovation endeavours. You can also get help exploring opportunities for university collaborations on research and education, e.g. organizing scientific seminars. Furthermore, we offer incubation services with office space included — whatever serves your purpose. KNOWLEDGE AND INSIGHTS Are you planning for the future but require knowledge and insights on where your industry is headed — or what the newest digital technologies will mean for you in the future? We can provide insights on specific digital technologies, conduct comprehensive foresight studies on future developments within industries or themes, and contribute to organizational studies within innovation, digitalization and entrepreneurship. TALENT AND EDUCATION Would your company or organisation benefit from competence development, or are you nurturing talent? We are well-versed in supporting the educational needs of organizations of any size, as well as customized talent development programmes including advising on opportunities for visiting research stays and educational opportunities in California. We support educators, HR, and promotional organizations on small and large educational engagements. We are located in Silicon Valley, but are experienced in bringing Silicon Valley to Denmark. So don’t let geography get in the way when addressing your challenges. We can support any endeavour in Denmark that could benefit from the insights and experience of Silicon Valley. Let us know how we can help you.

Primary Agendas & Selected Cases

DIGITAL TECHNOLOGIES • Applied Artificial Intelligence • The Future of Work • The Future of Leadership • Fintech Insights ENTREPRENEURSHIP • Internationalization • Corporate Innovation CLIMATETECH INNOVATION • Going Green HEALTHTECH • Life Science Education Partnerships RESEARCH & EDUCATION • Fintech Exchange Programme • Change Through Digital Technologies

FROM KNOWLEDGE TO GROWTH IN SILICON VALLEY

Digital TEChnologies EVERYWHERE AROUND US Digital technologies have reached a level of commercial and strategic importance, and should now be prioritized as a set of crucial tools for businesses — tools that can ensure increased efficiency and give access to new opportunities. Quantum Computing, Crypto, Artificial Intelligence, AR/VR, 5G, Blockchain, Biohacking, Robotics, Cybersecurity and related technologies are no longer limited to making an impact in the tech Industry. Digital technologies are present in all industries, and most have gone from buzzword to must-have. Or at least, that should be the case, as Big Tech is investing heavily, comprehensively and often in emerging as well as maturing technologies. Silicon Valley will continue to use its understanding of digital technologies to challenge traditional industries and market leaders. The large technology companies, ambitious start-ups and talented researchers in the ecosystem focus on developing technologies with the power to transform existing industries and give birth to new ones. In this way, established tech companies and tech entrepreneurs are ready to conquer traditional industries such as energy & utility, healthcare, education and finance. In fact, they are already at it, and major cost-intensive strategic battles between corporate giants regarding ClimateTech, HealthTech, and FinTech are ongoing.

COMBINING CONNECTIONS, TECH INSIGHTS AND INDUSTRY EXPERIENCE

Innovation Centre Denmark focuses on digital technologies to prepare Denmark for the future of doing business. With that mission in mind, we aspire to serve companies who are specialized in developing digital technologies that could challenge the status quo, as well as companies in more traditional industries at risk of being outcompeted.

ICDK is following the latest tech trends closely and offers unique services by combining observations with an understanding of the traditional industries and an extensive Silicon Valley network. SERVICES INCLUDE:

ICDK ASSISTS BY PROVIDING: 1) inspiration on how to benefit from digital technologies, 2) intelligence on relevant movements by the digital frontrunners in Silicon Valley, and 3) access to resources (including talent, capital and knowledge) that can turn great ideas into cases of commercial success.

• Access to talent, investors and corporate partners in the innovative eco-system. • Insights on market trends, funding opportunities and competitor activity. • Assistance on market entry, local establishment and incubation initiatives. • Facilitation of joint technology ventures and innovation deep dives. • Learning programmes on emerging technologies and industry developments.

DIGITAL TECHNOLOGIES

Applied

ARTIFICIAL INTELLIGENCE CASE: LEARNING HOW TO MASTER AI IN YOUR ORGANISATION

I Is Rethinking Everything We Do With the rapid development in computing power, algorithms and access to big data, artificial intelligence will provide new and exciting opportunities, transforming businesses and societies. Silicon Valley is home to the largest global tech giants, which have built their entire business models on data. The Bay Area is also a world hotspot for AI, with +$30 billion invested in artificial intelligence start-ups in recent years. For companies and institutions ready to embrace AI technology, Silicon Valley offers important insights into challenges and opportunities in the application of AI. Through a partnership with “Akademiet for Tekniske Videnskaber,” Innovation Centre Denmark in Silicon Valley is implementing an AI Academy, providing Danish stakeholders with key learnings. The goal is to enable participants to understand the potential of AI and devise strategies for applying AI to reach their business goals and stay competitive. AI Academy participants go through the process of first identifying challenges and obstacles to AI in their own business. Subject matter experts facilitate this process and ensure that a robust plan is developed. Participants go through a week-long intensive programme in Silicon Valley, where they get the opportunity to engage with leading AI experts. In-person visits make this experience engaging and immersive, and create partnerships and relationships that last beyond the visit. Follow-up after return to Denmark ensures that learnings translate into tangible benefits and each participant joins a network of like-minded people for further knowledge-sharing and inspiration. The AI Academy is a recurring series and can be tailormade with a focus on specific industries or groups of people.

DIGITAL TECHNOLOGIES

The future of

leadership CASE: INSIGHTS TO CHALLENGE AND GUIDE THE BUSINESS LEADERS OF TOMORROW

echnology is changing competition across industries in ways never experienced before. The democratization of technology is tearing down barriers of entry to almost every industry and accelerating the rate at which companies can start, scale, succeed and disrupt, changing the competitive landscape and rapidly altering the dynamics of the battle between incumbents and insurgents. Every industry is being redefined by innovation and technology — especially those attacked by “Big Tech.” “Modern leadership actively needs to address the stream of global issues from political and macroeconomic uncertainties, cyber and technological risks, climate and sustainability, and disruptive technologies, to individuals shaping the business landscape of today. It takes a new form of leadership (dynamics) to embrace the challenges and facilitate the necessary transformation.” That summarizes the overall challenges identified by some of the most experienced and insightful Danish board professionals. Through extensive research, along with expert interviews and workshops in Copenhagen and Silicon Valley, the Future of Leadership project sets out to challenge existing answers and engrained beliefs and explore new perspectives on leadership. The purpose of the project was to arm leaders with relevant questions, start conversations and inspire exploration. Perspectives were offered from Silicon Valley institutions like Stanford, UC Berkeley, Lyft, Kapor Capital, Onset Ventures, ConsenSys, GitCoin and Salesforce. Questions were addressed on how leadership needs to consider timing, team, governance, competition, partnerships, resilience, ecosystem, impact and sustainability etc. with a much higher level of uncertainty in a fiercer and ever-faster-moving world than their predecessors could have imagined. The project was executed in partnership with faculty, alumni, students and stakeholders from Bestyrelsesforeningen and Scandinavian Executive Institute. A report of the work is publicly available here: https://siliconvalley.um.dk/fol

DIGITAL TECHNOLOGIES

The future of

work CASE: INSIGHTS ON LABOUR MARKET CHALLENGES IN A WORLD TAKEN OVER BY SOFTWARE

nalyses have shown that up to 50% of the Danish labor force are at risk of being outcompeted and replaced by technology. The main drivers are digitalization, robotics, AI, the gig economy, globalization and automation. Mitigating that level of societal risk requires inspiration, innovation and foresight from outside Denmark, as many of the challenges are emerging from globally distributed sources. Through a series of roundtables and workshops in Denmark, with participation from entrepreneurs, politicians, corporate executives, business owners and students, a subset of risks, opportunities, concerns and challenges were identified. Three Danish partners volunteered to share their organizational challenges, and those were the foundation of the continued project. A GLIMPSE OF THE FUTURE THROUGH SILICON VALLEY The comprehensive network of ICDK throughout Silicon Valley participated in the programme and offered inspiring insights and experiences on the Future of Work. Contributors included companies like Facebook, Google, 42 Schools, Hackerrank, Upwork, Minecraft, LinkedIn and Udacity. Themes like unbundling of education, learning to learn, skills of the future, gamification of education, workforce automation and “glocal” leadership offered insights to the project. The project arrived at a less dystopian view on the future of work, but also revealed that it is time for change, innovation and open-mindedness, as the future is volatile, uncertain, complex and ambiguous. The innovative perspectives to work-related challenges that were uncovered inspired participating organizations toward new ways of learning and working. The project was executed in partnership with HK Lab, FinansForbundet and IME (International Management Education). A report of the work is publicly available here: https://siliconvalley.um.dk/insights/the-future-of-work

DIGITAL TECHNOLOGIES

fintech insights CASE: FINTECH WILL REDEFINE THE TRADITIONAL FINANCIAL SECTOR IN DENMARK

ew technologies and business models are challenging the financial sector at every turn. The financial industry is undergoing heavy transformation within areas such as payments, lending, wealth management, capital markets, insurance and real estate. In particular, Big Tech and fastgrowing insurgents, based on integrated data-centric digital business models, are taking market shares from financial institutions. FinTech is now among the largest venture capital investment categories, with more than $37B invested annually in Silicon Valley. One of the largest financial institutions in the Nordics was in the process of developing their strategic plans “Beyond 202X.” Their ambition was to inject some fresh thinking from Silicon Valley into their strategy process. They aimed to return with not only loose ideas but an agreed-upon follow-up action list that could be clearly anchored in the organisation and taken forward. Some examples of questions they asked themselves included how to institutionalise corporate innovation, when to buy-partner-build and what new technologies they should accelerate. Finally, they also sought insights about how to work with FinTechs. Innovation Centre Denmark developed the executive strategy programme Beyond 202X, tailormade to the needs of the client, based on an extensive mapping and design process. The Innovation Centre provided access to an exclusive group of small and large FinTech startups, venture capitalists, large tech companies, and research and thought leaders by leveraging our comprehensive network. The client C-suite engaged with vetted interlocutors, and in expert challenge workshop and roundtables, strategically planned for optimised output. The client took over the project with new insights and potential partners to continue working with after the programme. They were very aware that neither they nor any other Danish company could have produced this strategy programme with their own contacts. ICDK delivers tailormade executive strategy programmes on demand. Programmes provide valuable insights to the client’s strategic outlook and business development process throughout the immersive visit and in the virtual programmes that are designed to follow up on implementation.

DIGITAL TECHNOLOGIES

Entrepre SILICON VALLEY – SECOND TO NONE Silicon Valley is the undisputed epicenter of innovation and tech, nurtured by an entrepreneurial ecosystem like no other. The ecosystem consists of the world’s largest tech companies, an abundance of start-ups, a highly competitive investor landscape, and a strong business infrastructure of mentors, accelerators, business services and industry experts, as well as top-of-class universities and strong tech-transfer organizations anchored around these prominent institutions. The high density of expertise, combined with a risk-taking mentality as well as a strong networking culture, provides the perfect environment for fostering creativity, innovation and growth, creating positive spillover effects for the ecosystem and society throughout. CONNECTING ECOSYSTEMS – FROM SILICON VALLEY TO DENMARK AND BACK In Denmark, we can be inspired by and learn from stronger and more experienced ecosystems such as Silicon Valley, where the willingness and capital to invest in start-ups with good ideas and growth potential are substantial. At Innovation Centre Denmark, we aim to make best practices, insights and tools available in order to strengthen our entire Danish entrepreneurial ecosystem. We do this by collaborating with all aspects of the Danish ecosystem such as foundations, the entire business promotion infrastructure, cluster organizations, start-up communities, universities, tech transfer offices, corporate venture arms, NGO’s, philanthropists and many more. Through our comprehensive network, we support bridge-building to Silicon Valley for optimized value creation, acceleration and learning.

neurship GO BIG – OR GO HOME Together with partners from both the Danish and Silicon Valley ecosystems, we aspire to support Danish start-ups from early-stage to venture-backed in their internationalization and scaling journeys by providing the necessary access to knowledge, tools and networks through a range of long-term partnerships and programmes. Some of the ways we work with our partners to support Danish start-ups as they scale through Silicon Valley and prepare their internationalization journey include: • • • •

Creating ACCESS to local mentors, experts and funding opportunities Providing INSIGHTS on evolving technologies, industries, investor and competitor landscapes ADVISING on market entry, corp. establishment and incubation opportunities Offering feasibility studies and specialized INTERNATIONALIZATION programmes

! In recent years, more than $130 billion in VC capital has been invested in start-ups every year in the US. The real value, though, does not solely lie in the money, but in the resources, expertise and network provided by the VC firms.

! In Silicon Valley, universities have a very important role. Institutions such as Stanford or UC Berkeley are so well integrated with the entrepreneurial community that they might even be considered protagonists that bind the ecosystem together.

ENTREPRENEURSHIP

Internationalization CASE: Going Global Through Silicon Valley

ith an increased need for Danish start-ups to succeed in international markets, it is essential to understand the different demands, opportunities and methods that drive global markets. Silicon Valley holds several Fortune 500 headquarters and more than 500 venture capital firms, and is home to the leading tech startups of the world, making it a natural location for early-stage tech start-ups to look towards for internationalization. Since the creation of the first ICDK internationalization program, more than 200 Danish startups have experienced great results through feedback on their product and business model, testing and validating in an international market, refining their business, gaining funding opportunities, and obtaining an invaluable international network. More than 25 internationalization programmes have executed intense boot camps with peerto-peer sessions, inspiring and honest keynotes, hands-on workshops and hard-truth investor pitch events. Through exposure to Silicon Valley venture capitalists, accelerators, and innovators and international founders that train, advice and educate, the participants are introduced to an incredible concentration of brilliant entrepreneurship professionals and firsthand experience of going-global knowledge and insights. Start-ups view the bootcamps as an excellent catalyst in gaining the right network for international investment opportunities in Silicon Valley — opportunities hard to see from behind the office desk in Denmark. “SCALEIT HAS MEANT THE WORLD TO US AND OUR COMPANY. IT'S BY FAR THE MOST VALUABLE COMPANY PROGRAM I HAVE EVER PARTICIPATED IN. VERY USEFUL, AMBITIOUS AND SO WELL PLANNED. I COULD ONLY WISH FOR ALL STARTUPS TO HAVE THE CHANCE TO ATTEND.”

| Morten Resen | CEO | Mambeno & GoLittle

Most programmes are carried out in collaboration with Danish partners such as Innovationsfonden and Erhvervshus NordJylland (SCALEit) and IT-Forum (Founders and Innovators Summit), TechBBQ (SaaStr) among others.

Founders and Innovators Summit is created to offer a unique opportunity for early-stage Danish start-ups to learn from the world’s most successful businesses, tech leaders, and big brands at the forefront of innovation, such as Lyft, Google, Kickstarter, Zoom, Slack, LinkedIn, and Stanford University.

The participants are introduced to local entrepreneurs and professionals who teach the elements of Silicon Valley, a US tech hub that raises ~50B$ annually. Participation in Start-up Grind’s Global Conference, moreover, opens access to a large international network with more than 10,000 people from all over the world participating.

ENTREPRENEURSHIP

Corporate Innovation CASE: AN INTRAPRENEURIAL LEADERSHIP JOURNEY THROUGH SILICON VALLEY

eing the centre of many technological developments of the world, Silicon Valley is often referred to as the innovation capital of the world, and the area is characterized by open boundaries between investors, universities, and companies that create a unique innovation ecosystem. To learn how entrepreneurs construct and execute innovation and internationalization strategies in Silicon Valley, ICDK created an intrapreneurial leadership programme for the innovation team of one of Denmark’s C25. The innovation team ran strategically important projects across the world and was looking to improve their innovation framework. The program planned by ICDK should aim to strengthen the collaboration in the innovation team and help the team learn, be inspired and support strategic decisions through the Silicon Valley mindset. Through a process starting in Denmark, the innovation team brought their actual projects to Silicon Valley facing a learning journey with contributions, challenges and valuable insights from Stanford d.school, tech experts from SRI, and in-depth discussions with VC’s from funds such as ONSET Ventures, Quest Venture Partners and Tau Ventures. The group also attended Impact’s innovation conference, and customized sessions by Silicon Valley experts within innovation and entrepreneurship. The program concluded in Denmark, where the innovation team created revised strategies for their projects based on their learnings. Through the intrapreneurial leadership program the team learned new ways on how to approach innovation within the organization by the means of their newly acquired experience and insights from Silicon Valley.

ENTREPRENEURSHIP

Climatetech innovation GOING GREEN TOGETHER FASTER Denmark has long been at the forefront of the renewable energy transition and aims to be a global frontrunner on the path to decarbonizing the economy. However, global climate goals can only be achieved by forging international partnerships. And where better to look than California where ambitions are high, innovation is everywhere, and capacity to scale transformative technologies is amply demonstrated? The Silicon Valley innovation and tech ecosystem is unparalleled and has much to offer stakeholders in the ClimateTech space. If you are looking for knowledge of new green technologies, inspiration on green business models and innovation practices, or if you are in search of partners, testbeds or funding to scale, Innovation Centre Denmark can help you. We can assist with; INSIGHTS AND INSPIRATION ON GREEN INNOVATION Want to learn about new green business models, emerging technologies, new investment trends to accelerate your corporate sustainability innovation effort? ACCESS AND ADVICE Get valuable advice from local mentors and innovators in ClimateTech, get feedback on your business model and fit for the Californian market, or learn how to pitch for Silicon Valley VCs via our green startup programmes. SCALING UP CLIMATETECH Get plugged into the ecosystem of green investors, accelerators, world-class research communities, and large off-takers of green solutions (from utilities and cities to big tech companies) to validate the market and develop pilot projects to scale up your business. RESEARCH & DEVELOPMENT Get the latest insights on research and development activities in California and well as grant opportunities that can support partnership activities with Californian stakeholders.

Going green through partnerships THE STATE OF CALIFORNIA Denmark has a strong collaboration with the Californian government, within respectively: water technology, offshore wind, and energy efficiency, which paves the way for Danish business opportunities.

CITIES IN CALIFORNIA The role of cities are increasingly important in the green transition, illustrated by the C40 initiative. Innovation Centre Denmark Silicon Valley works to partner with key Californian metropolitan areas as a supplement to collaboration at the state level.

CLIMATETECH

Going green CASE: BUILDING BRIDGES FOR A SUSTAINABLE FUTURE

limate tech is taking off in California, emphasized by the goal of a net zero economy by 2045. With rising global awareness, growing consumer demand, shifts in investor risk assessments, ambitious political priorities and technological advancements, climate solutions represent a growing market - with an opportunity to do profitable business while making an impact. Against the backdrop of Danish climate strategies, Innovation Centre Denmark in Silicon Valley in 2020 set out to uncover trends, research, networks, initiatives, models and technologies in the thriving ecosystem of Silicon Valley and California of relevance to the green transition. Findings point to an increasing focus on ClimateTech across the ecosystem of research, startups, corporates, investors and accelerators offering exciting opportunities for Danish stakeholders with global climate and business ambitions.

WORLD CLASS RESEARCH INSTITUTIONS in the Bay Area are zooming in on climate research, and resources are devoted to green incubators, facilitating the leap across the ‘valley of death’ for new climate startups. SPECIALIZED GREEN ACCELERATORS have emerged together with a new wave of green venture capitalists and investors with patient capital, ready to invest in ClimateTech. CORPORATE VENTURE CAPITAL units are present in large numbers in Silicon Valley looking for their next strategic investment in sustainable solutions that will meet consumer demand and mitigate climate risk. Silicon Valley and California present a unique capacity to develop, innovate and scale technologies that contribute to decarbonization in many forms, and opportunities to be inspired by a visionary mindset as well as business and innovation models are many. The ecosystem has a worldrenowned track record of producing ground-breaking technologies within information and communication technologies, which will be also playing a key role in driving sustainability and decarbonization efforts. At the same time, California presents business opportunities within areas such as zero-emission vehicles, energy storage and conversion (e.g. green hydrogen), energy efficiency, water technology, circular economy, and much more. To get insights, dive deeper into topics within green innovation and to get to know our wide network of stakeholders better, we invite you to visit our theme site: Going Green.

CLIMATETECH

health THE FUTURE OF HEALTHCARE IS DIGITAL The nature of healthcare is changing rapidly. Data and digitalization is playing an increasing role, and the transformation of the industry is to a large extent rooted in Silicon Valley. With Big Tech companies moving massively and quickly into the healthcare space, traditional companies need to transition and innovate to remain competitive and relevant. Leveraging new technologies, data and artificial intelligence is of paramount importance to the Danish Health Tech industry, which is one of the largest export sectors in Denmark. The HealthTech team at Innovation Centre Denmark in Silicon Valley supports Danish businesses, Government Agencies, entrepreneurs and students. Our programmes ensure that companies and innovators of Denmark are at the forefront of the latest developments and updated on future trends. We facilitate knowledge and partnerships that strengthen the ability of Danish companies to compete in a global market and enable companies, entrepreneurs and researchers to learn and collaborate directly with their counterparts in Silicon Valley.

tech We offer our services within three key areas: DIAGNOSIS AND PATIENT MONITORING Innovation and technical improvements are driving a fast-growing segment of medical device and diagnostics with an emphasis on AIsupported imaging, patient monitoring using wearables, and evolving options for contactless treatments like telehealth. With over 400 companies in the Greater San Francisco Bay Area focusing on this, there are ample opportunities to get inspired, learn and cooperate. DATA & AI Data and AI play an ever-increasing role in the Life Science and Healthcare industry, with more than $1.5B invested in the last five years. ICDK facilitates insights about and access to tools that will help Danish organizations get on par with the newest and latest technologies and apply and leverage these in order to understand how AI can become more than just a buzzword. RESEARCH AND EDUCATION With some of the best universities of the world in close proximity, ICDK has access to top scientists and thought leaders. ICDK facilitates collaboration and sharing of knowledge that will benefit researchers and developers of innovative solutions.

HEALTHTECH

Life Science Education Partnerships CASE: ENTREPRENEURSHIP AND RESEARCH FELLOWSHIPS

Danish American Research Exchange (DARE) is a long-term strategic

international Innovation Project (2IP) is a strategic

partnership with the Lundbeck Foundation aiming to enhance collaboration and learning within the Life Science industry at the top medical Universities in Silicon Valley; Stanford and UCSF.

partnership with the Novo Nordisk Foundation and brings Life Science Innovation and entrepreneurship closer to Denmark. The program offers unique opportunities to learn and grow by learning from the flourishing and dynamic ecosystem of entrepreneurs in Silicon Valley.

The program offers a unique opportunity for research collaboration for Danish medical students mentored by some of the world’s foremost researchers within their field, many of them rewarded with international prizes and recognitions for their work.

THE DARE PROGRAMME AIMS TO: • Create enduring international teaching and research collaborations • Help advance the cutting-edge, broad portfolio research and clinical expertise • Increase students research and clinical design skills • Expose medical students to the innovative thinking and entrepreneurship of Silicon Valley The participants are further exposed to the exceptional entrepreneurial spirit in Silicon Valley through the “10 Dollar Challenge,” a six-month programme that brings together students from different fields — together, they must come up with a project that offers a new medical innovation that does not cost more than $10 per transaction. As the project takes shape, some of the area’s finest and most experienced entrepreneurs offer mentoring and guidance. Read more about the challenge here and find more about the programme at www.darefellowship.com

The idea of bringing start-up companies closer to Danish entrepreneurs and scientists has resulted in thriving collaborations beyond the program — bringing internationalization and knowledge to Denmark.

2IP AIMS TO: • Improve student education in the life science field and increase the international mobility of Danish students within life science, medical technology/devices, computer science, engineering and other related fields • Give Danish students an opportunity to learn about innovation and entrepreneurship from “the inside” that can benefit them later in their careers • Increase the number of Danish students entering research with a commercial and innovative focus, encouraging scientists to bring results to the market. Read more at www.2ip.dk

HEALTHTECH

Research & Silicon Valley is home to worldleading universities such as Stanford, UC Berkeley and UCSF. It is one of our core missions at the Innovation Centre to plug into the best research communities at these institutions and help build bridges to relevant researchers at Danish universities and in private companies. The top-ranked Californian universities are not only home to some of the best researchers in the world, but are at the same time world-famous for their entrepreneurial mindset and ability to spin out new unicorn companies and disruptive technologies. Often, these are rooted in strong interdisciplinary science, where researchers with different scientific backgrounds work together on solving ambitious scientific missions. For Danish universities and educational institutions, there is a lot to gain from working together with the best American research environments, not only in terms of access to the newest knowledge but also in terms of establishing exchange programmes and educational opportunities for Danish researchers and students.

education In Silicon Valley we have a long tradition of working closely together with all the main universities and research centers and we can help setting up partnerships and collaborative agreements with UC Berkeley, UC Santa Cruz, UC Davis, UC Merced and Stanford. We can also help organizing scientific workshops, arrange study visits to the U.S. and facilitate other types of research collaboration between Danish researchers, institutions and stakeholders, which supports international exchange of knowledge on tomorrow's technologies and innovations. The partnership agreements allow us to set up scientific workshops, study visits and other types of research collaboration between Danish researchers, institutions and stakeholders, which support international exchange of knowledge on tomorrow's technologies and innovations. Typically, this is done within areas of high mutual interest such as climate change, green transition or future healthcare, and within areas and topics where a clear win-win can be established for both U.S. and Danish partners.

RESEARCH & EDUCATION

FinTech Exchange Programme CASE: ENTREPRENEURSHIP EDUCATION

ver the past few years, the financial industry has witnessed unprecedented developments in FinTech, including innovation in mobile payments, digital currencies, blockchain, and more. Fintech innovations have grown enormously and are expected to continue to rise as new players challenge the traditional financial and banking system. In the past five years, global investments in FinTech rose from $65 billion to $200 billion. Similarly, venture capital investments have risen from $17 billion to $37 billion in the same period, and there are 66 FinTech unicorns today valued at $248 billion. Sponsored by and in partnership with Spar Nord Fonden, ICDK developed a six-month exchange programme for Danish students, giving them a unique opportunity to study FinTech at one of the world’s leading universities, UC Berkeley in California, as students in Denmark do not have access to the same educational opportunities and offerings within Fintech as American students at leading US universities do. While the students study at Berkeley, they also benefit from exposure to the outstanding Silicon Valley entrepreneurship ecosystem and take part in an intensive entrepreneurship programme — the SPARK program — designed and organized by Innovations Centre Denmark in close collaboration with local entrepreneurship gurus and FinTech industry leaders. The programme brings the students from early idea to a fully fledged business concept. The programme has become very attractive to students, and the outcome of the current four cohorts has been a great success. Several of the former students are today working for innovative Fintech companies or have secured prestigious jobs in large corporations. “WE BRING HOME NEW KNOWLEDGE AND GREAT INSIGHT INTO THE UNIQUE ECOSYSTEM AND SILICON VALLEY MINDSET AND ATTITUDE TOWARDS ENTREPRENEURSHIP. OUR PARTICIPATION IN THE SPARK PROGRAM WILL HAVE A STRONG IMPACT ON US MOVING FORWARD.” Niklas Hansen and Juliana Schütze| FinTech Scholars Spring 2020

RESEARCH & EDUCATION

Change Through

Technology CASE: TRANSFORMATION INSIGHTS FROM AROUND THE GLOBE

igital technologies are changing the global business landscape, competition is fierce and organizations must evolve with increasing pace. As the COVID-19 crisis has underlined, digital transformation has become an imperative. Silicon Valley and other tech hubs provide important learnings that can take Danish executives a step ahead. Silicon Valley is the world’s most innovative technology hub and home to digital giants such as Google, Facebook, Apple and Netflix. Spending billions of dollars on acquisitions in everything from healthcare to supermarkets, they challenge legacy industries with digital business models combining Big Data with Artificial Intelligence. Other hubs are also gaining ground. Chinese companies such as Baidu, Alibaba and Tencent are becoming formidable challengers to most industries, while India boasts FinTech competences, such as the India Stack with 1.26 billion users, which is poised to influence the world. Interesting digital developments also come from smaller countries, like Israel, which today has the highest density of start-up companies of any country in the world. In light of this, Innovation Centre Denmark assisted the Danish IT University in developing a proprietary learning programme to empower Danish leaders with global perspectives on digital transformation. As part of an ITU accredited course, representatives from well-established Danish companies and the public sector were offered a four-day around-the-globe virtual programme at the IT University of Copenhagen, enabling participants to prepare an action plan for approaching digital transformation within their own organizations. Digital opportunities and threats were illustrated by academics from UC Berkeley and Stanford, while thought and industry leaders from all over the world presented their perspectives on digital transformation. The course included presentations from Amazon, Chinese digital challengers such as TikTok, Indian IT giant Infosys with 242,000 employees, and Israeli experts all providing insights about the latest developments in cybersecurity.

RESEARCH & EDUCATION

FROM

KNOWLEDGE TO

GROWTH IN SILICON VALLEY

INNOVATION CENTRE DENMARK

SILICON VALLEY

contact Innovation centre Denmark silicon valley 299 California Avenue Ste 200, 94306 Palo Alto +1(650) 543-3180 svicdk@um.dk