New AU grant will boost business ideas with big potential
August 18, 2022
BY RASMUS ERIKSEN
Aarhus University wants to use a new grant to help its enterprising researchers and students at the beginning of their entrepreneurial careers. The initiative will put an end to a lack of access to venture capital for untested business concepts at the university.
Entrepreneurship is thriving among students and researchers at Aarhus University, but academic entrepreneurs need venture capital at the early stages of their work.
A new grant at Aarhus University will meet this demand.
The grant, which is aptly titled ‘AU Launch’, will help startups at the university demonstrate their business potential. These startups are often based on new knowledge and new ideas that take longer to mature than other types of business. It can also be difficult for these companies to assess market conditions during the startup period.
According to Jonas Brandt, Head of Business Development at AU’s entrepreneurial hub, The Kitchen, the need for external capital is crucial in order to help knowledge-based companies reach their next level.
“Many knowledge-based startups have experienced a gap in the world of funding, as it has been difficult to find venture capital for the first, important steps of their entrepreneurial journey. With AU Launch we can fill this gap and give many of our talented academic entrepreneurs more support on their journeys. This is not only important for the success of the entrepreneurs, but also for the university’s commitment to promote development and be of value to society,” says the leading business developer.
Applicants can receive up to DKK 500,000. The money will be given to help develop business ideas that require a particularly large amount of financial support to get up and running. For example, it could be used to purchase specialist or consultancy services, rent laboratories or buy high-tech equipment.
A wide range of AU entrepreneurs can apply for the grant. They may have conducted large research projects with spinout potential or study projects that have matured into a specific business. Both entrepreneurs with established AU startups and those who are yet to receive a CVR number can apply for the grant.