Starting next year, all designs submitted for INDEX: Award 2017 will not only have the opportunity to win the world’s largest design prize, worth EUR 500,000, but will also have the chance to be scouted for investment.
The Danish Ministry of Business and Growth, supporting ministry of INDEX: Design to Improve Life®, also hopes the new source of capital will encourage more innovation, as well as create more sustainable businesses and jobs in Denmark.
“Creative ideas and design create growth and can help to maintain production in Denmark,” said Troels Lund Poulsen, Minister of Business and Growth. “It’s therefore important to create better opportunities for these ideas to be realised.”
Aside from awarding the world’s best sustainable designers, INDEX: Design to Improve Life® have always envisioned doing more to help designs come to fruition and create positive impact, according to CEO Kigge Hvid (pictured right).
“WITH THE ESTABLISHMENT OF DANISH VENTURES – INVESTING IN DESIGN TO IMPROVE LIFE, WE HAVE FULFILLED A DREAM THAT WE NEVER THOUGHT POSSIBLE,” She said.
“Our vision has always been to use design to solve global challenges in a sustainable way, “With the fund, we can do our small part to move the world forward, and help designers with funding to make a real positive difference by leveraging capital from Danish investors to realise design solutions globally.”
Danish Ventures – Investing in Design to Improve Life will be equally owned by INDEX: Design to Improve Life® and Dansk OTC. Established and run by Dansk OTC, the fund will have two main objectives: to invest in design that improves life, and to attract foreign businesses and designers to Denmark.
“Danish Ventures – Investing in Design to Improve Life is a brand new offer for Danish investors,” says Martin Rasmussen, Partner of Dansk OTC (pictured left).
“FIRSTLY, IT’S A ‘REAL’ VENTURE FUND WHERE YOU CAN INVEST IN PROJECTS AT AN EARLY STAGE. SECONDLY, IT’S AN OPPORTUNITY FOR INVESTORS TO NOT ONLY GET BENEFITS FOR THEIR MONEY, BUT TO ALSO CONTRIBUTE TO A BETTER WORLD.”
A small part of the profits of Danish Ventures – Investing in Design to Improve Life will be directed to the operation of INDEX: Design to Improve Life®. The non-profit organisation currently receives 30 – 50 percent of their funding from The Danish Ministry of Business and Growth. As per the Ministry’s recommendation, the fund will assist the organisation with becoming more self-financing.
“Hopefully, we will kill two birds with one stone,” said Hvid. “We are doing our part to make the world a better place, as well as taking step to ensure our own survival.”
The work to establish a board of directors and Investment Committee for the Fund is currently underway, it will be composed of accomplished entrepreneurs, investors and individuals who will make investments according to the fund strategy and investment objectives – that will draw upon social, environmental and economical sustainability – as well as make sound judgments on the potential for generating returns for our investors.
INDEX: Design to Improve Life® Board members, Jens Wittrup Willumsen and Flemming Lindeløv have both confirmed they will be part of the Funds’ board.
The management team of Danish Ventures will also assist designers who receive funding with business and strategy support to ensure successful commercialisation.
For more information please contact our Head of Press, Lars Bøgeskov: +45 2236 3138.
To contact the Minister for Business and Growth, Troels Lund Poulsen, please contact Press Officer, Martin Hein: +45 9139 9455.