Investment fund for entrepreneurial businesses moves into The Kitchen
Entrepreneurs at The Kitchen, the entrepreneurs hub for researchers and students at Aarhus University, will now have easier access to early-stage entrepreneurial funding. This is because Aarhus University has entered into a strategic partnership agreement with Denmark's largest start-up accelerator: Accelerace. Accelerace helps startups via intensive training courses and loan investments.
In addition to their offices in Copenhagen, Accelerace is now also represented in western Denmark with their new offices at The Kitchen. The start-up accelerator's newest investment fund, Accelerace Invest II, is ready to invest in Denmark’s most promising startups if they need venture capital in the early and often difficult establishment phase.
"We're really pleased to have Accelerace on board at The Kitchen. Accelerace is a very strong financial partner, and it can help to boost entrepreneurial efforts at The Kitchen and help achieve the ambitions of The Kitchen as a seedbed for innovation at the university and in Aarhus as a whole. The financial tool offered by Accelerace is perfectly suited to many of the entrepreneurial businesses originating from Aarhus University," says Christian Buur, head of innovation at Enterprise and Innovation, Aarhus University.
Newly-established Finance Powerhouse
Accelerace will be moving into The Kitchens' newly established Finance Powerhouse. The ambition is for Finance Powerhouse to be home to several other financial partners so that it can offer a broad palette of different options for raising capital in the form of grants, loans and equity.
"When we look at the most successful universities around the world in terms of entrepreneurship, it’s clear that easy and plentiful access to risk capital is crucial. In the early stages, entrepreneurial businesses often find procuring the necessary risk capital very difficult, because there’s typically only little evidence for the feasibility of the business model – and raising capital has certainly not become easier during the corona crisis. A strong Finance Powerhouse will also encourage researchers and students at the university with entrepreneurial aspirations to take the leap and start their own business," says Christian Buur.
Convertible loans and accelerator programme at the core of Danish entrepreneurship
With the establishment of the Accelerace Invest II investment fund, over the next three years, Accelerace will be investing in 90 of the most promising Danish early startups. Investment will be in the form of convertible loans of up to DKK 500,000 per business. In addition to the option of convertible loans, Accelerace also offers entrepreneurs at The Kitchen a five-month accelerator programme with various training modules.
"It's essential for Accelerace to be at the very core of Danish entrepreneurship. In Copenhagen, we have offices at Symbion, and in Aarhus we are now moving into Finance Powerhouse at The Kitchen. We want to be at the best possible interface to early entrepreneurs with the best conditions for collaboration, creativity and innovation – all of which we believe are available at The Kitchen," says Claus Strand Kristensen, partner in Accelerace.
Accelerace will move into The Kitchen on 1 September.
Read more about Accelerace here
Read more about The Kitchen here
Contact:
Christian Buur
Head of innovation
Mobile: +45 21691659
Email: cbu@au.dk