The Technology and Innovation Act reinforces technology development and boosts 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.
The Danish Council for Technology and Innovation is a council under the jurisdiction of the Ministry of Science, Technology and Innovation. The Council has two main functions:
- advising the Minister for Science concerning innovation policy;
- administering the resources and schemes transferred to the Council from the Minister for Science.
The Danish Council for Technology and Innovation supports the development of new science and technology through collaboration on research, development and innovation between companies and scientific institutions.
The Council therefore has six tools for use in supporting innovation in Denmark:
- Innovation projects: National and international research and innovation projects run in collaboration between scientific institutions, companies and other players.
- The advanced technology groups: Scientific institutions, including science for businesses, etc.
- Innovation networks: Networks between scientific institutions, companies and public-sector parties.
- Highly-educated people in business: The Business PhD scheme and science pilot schemes, to promote the employment of highly-educated people in business.
- Innovation Environments: Injects capital into new, science-intensive and high-tech companies.
- Commercial application of public-sector research: Support for developing inventions at public research institutions.
The Danish Council for Technology and Innovation's efforts in the area of non-technological innovation are covered by the above.
Alongside innovation, access to R&D is essential for businesses to develop and stay competitive.
Intellectual property must be protected to encourage innovation.
The InnovationDenmark action plan 2007-2010 aims to make Danish companies more innovative and make better use of the country's highly educated workforce.
The Council issues a yearly update on the action plan for InnovationDenmark 2007-2010. The most recent update came out in 2008.
The purpose of the programme for user-driven innovation is to strengthen the development of new products, services, concepts and processes both in industry and public institutions on the basis of enhanced knowledge of customers and their needs. The fund is offered on a rolling basis.