As selected for the Danish Tech Challenge, you will move into Denmark’s only entrepreneurial environment exclusively for hardware start-ups: Newly established businesses involved in the development of new physical products.
DTC is not a school, but rather a working community for ambitious entrepreneurs. We place a wide range of resources at your disposal:
- A professional programme with Denmark’s leading experts in product and business development.
We help the participants attain what they are missing for their business. Typically, it is about finding the right proficiencies and the necessary financing.
During Danish Tech Challenge, we will cover all the fundamentals of the participants’ businesses. Our mission is to ensure that the fundamental assumptions are sound.
We will work with technology, business and financing. The result is a business plan where the fundamental building blocks are properly laid.
A new topic every week
Every week we work on a new topic. As a participant, it is therefore necessary to reserve four fixed blocks every week during the DTC period. See the picture below.
Monday: The week’s subject is introduced
Tuesday, Wednesday and Thursday: Each business will have an individual session on the week’s topic based on the company’s specific challenges.
Friday: Internal discussions with the other participants on the theme of the week. Lunch and visit by guest speaker.
In addition to the professional programme, participants in Danish Tech Challenge are offered the following:
- Ongoing consultancy/assistance by permanent staff
- Free advice on legal, audit and IP from our external advisers
- An individually matched team of mentors from Scion Team Mentoring
Danish Tech Challenge has the following structure:
To conclude Danish Tech Challenge, the participants present their projects to an external jury. The winner will receive Industriens Fond’s Entrepreneur Award of DKK 500,000 for the development of the business.
We work with the following criteria to win the competition:
- Market potential:
- How big is the addressable market?
- Has the business conducted a thorough competitor analysis?
- Is there an actually validated need for the product?
- Has the business clearly defined and researched their customer segment and end users?
- Has it been validated that customers are willing to buy the business’ products directly from the business and at their price?
- Does the product actually resolve the problem?
- Is the business technology innovative?
- Can the technological edge be maintained/protected?
- Business model:
- How will the business make money on the product?
- Are sales channels, production and development costs as well as business models validated?
- Is the business actively working on validating assumptions?
- Does the team have the necessary skills to implement the project, or is it credible that they can attract the skills when the need arises?