The expert panel is looking for fundamentally clever business models that seize an opportunity and accelerate the development of a new market or industry. Applications are evaluated in terms of their level of innovation and introduction of new products, services or processes within their field.
When evaluating the attractiveness of a market, the expert panel focuses on market size, commercial potentials and barriers of entry. Additionally, the panel evaluates the level of competition in the market and how applicants plan to enter and address the market.
Applicants need not only to conceive a great business model, but must also be capable of building a successful business in practice. Therefore, the expert panel assess whether applicants have the skills, competences and experiences needed to turn their business plan into a viable venture.
The expert panel selects startups with a clear potential to create jobs and growth in Denmark. For this reason the panel values scalability. Hence, it should be demonstrated that the business model is built to scale up, that it is highly expandable, and that it represents a significant growth potential.
Start-up Denmark aims to attract growth-oriented, innovative and, ideally, tech-driven startups that bring ideas, network and knowledge about new markets to Denmark. Consequently, the expert panel estimates the degree to which startups contribute to this end. The recommendation score sums up the panel’s assessment of the first four criteria taken altogether. It is thus an expression of the panel’s overall perception of the quality of the business plan and the applicant(s) behind it.