The European target set out in the Lisbon Strategy is for expenditure on Research and Development (R&D) to reach 3% of GDP in 2010. To this end, Denmark is encouraging businesses to invest in research and innovation that promotes growth and employment.
The purpose of the Technology and Innovation Act is to strengthen technological development and boost innovation in the business community. It:
- promotes the sharing of knowledge;
- ensures cooperation between research institutions and businesses;
- commercialises business innovation and know-how.
The Act also forms the basis for the work of the Danish Council for Technology and Innovation, including the council's relations with, among others, Approved Technological Service Institutes (GTS) and Innovation Environments. The council may use a variety of co-financing instruments to achieve the goals stated in the Act.
Enhanced interaction between businesses and knowledge institutions is one of the key elements in the work of the Danish Agency for Science, Technology and Innovation. One of the agency's most important tasks is to use a number of public schemes to support collaboration between research institutions and private businesses.
Alongside R&D, innovation is essential for businesses to develop and stay competitive.
Intellectual property must be protected to encourage research.
The InnovationDanmark action plan aims to make Danish companies more innovative and make better use of the country's highly educated workforce.
Innovation consortia are collaborative projects between businesses, research bodies and technological service centres. They aim to bring parties together to enhance technology and expertise, benefiting not only individual businesses but whole sectors of the Danish business community.
An innovation consortium consists of at least two businesses, one research institute and a technology service centre.
Small businesses (1-100 employees) may participate in certain parts of the project, provided they do so for a minimum of six months.