Maritime fund intensifies hunt for future entrepreneurs

If Denmark is to maintain its leading position in the global maritime sector more entrepreneurs are needed. This is the view of The Danish Maritime Fund which has earmarked DKK 30 million for funding startups that are looking to digitize sea transportation and maritime industry.

Denmark has been amongst the biggest maritime nation for centuries. Despite our modest size the leading position is built on generations of ingenuity, creativity, and a tireless ability to think innovatively.

But global competition is intensifying each day. And if Denmark is to remain a leading player it requires innovation and development of solutions. This is why more entrepreneurs and startups are needed in developing the massive potential in the maritime sector, according to The Danish Maritime Fund, which works to support growth and innovation in the Danish maritime sector.

“Danish ingenuity and entrepreneurial spirit are high. But entrepreneurs and startups in other sectors need to be aware that good ideas could probably also be angled in a maritime direction. If we don’t keep innovating we will fall behind in the global competition,” says Lotte G. Lundberg, Man. Dir. of the Danish Maritime Fund.

In 2022, the fund launched a two-year campaign with DKK 30 million earmarked seed-funding of Danish maritime startups. It was a great success in the first year and the fund received more applications and supported far more startups with seed funding than expected.

“We are ready with a helping hand and risk capital. We are a high-risk fund and our success with seed funding is reflected in this. We welcome all good ideas and brave entrepreneurs in the maritime sector,” says Lotte G. Lundberg.

In total, 17 Danish startups were funded in 2022, particularly in areas of digitalization, automation, and green transition – amongst which are an autonomous sailing offshore wind turbine, a certified circular economy for ship recycling and a floating offshore power generator vessel based on wave energy.

But the The Danish Maritime Fund is ready for more.

“We are risk-averse and ready to help Danish projects that do not yet have a market-ready product or service in place. We would much rather cater to one pitch too many than too few, says Lotte G. Lundberg.

Only requirement is that the startup should be a Danish based and registered company.

Sponsored: This article is published in collaboration with Black Capital Ventures