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Vækstfonden | The Danish Growth Fund

Vækstfonden | The Danish Growth Fund

In collaboration with The Danish Growth Fund, The North Denmark Region and the business councils in North Jutland, Business Design Center coordinated a project with the ambition to create better investment awareness and a more fluent investment process among SMEs and private investors in the region of North Jutland.

During this project, BDC interacted with over 150 actors and 19 companies went through an investment process resulting in both rejections, but also multiple successes. The total amount of capital invested by private investors during the project amounted to approx. two million Euros. Furthermore, the process led to recommendations to both SMEs, business councils and investors around how to improve the investment process for Business Angels. Likewise, the results are used in entrepreneurship lectures at the university-wide New Venture Creation program. The program has currently been attached to the ongoing Accelerace and Scale Up program and is thus a sustainable activity.

The research underpinning the case study has been multisided and directed both at research ambitions and practical influence:

  • Business Design Center has assembled 65 Business Angels
  • Conducted workshops with them
  • Conducted matching groups worth 10 investment cases
  • Analysed 19 investment cases
  • Interviewed 30 people and
  • Created videnkapital.dk

The collaboration with The Danish Growth Found has also lead to publish articles and research results in books and journals:

  • Sort, J. (2016)” Business angels and their investment process” Aalborg Universitetsforlag
  • Sort, J & Nielsen, C. (Forthcomming) “Using the business model canvas to improve investment processes” Journal of Research in Marketing and Entrepreneurship
  • Sort, J. (WP) “Gatekeepers in the business angel market: understanding the role of the gatekeeping function outside business angel networks” Working paper
  • Sort, J. et al. (WP) “Deal or no deal? Activities that determine acceptance and rejection in investment processes between business angels and entrepreneurs” Working paper
  • The booklet in Danish “Vækstkoblinger: En billedbog om hvordan en kompetent og talentfuld forretningsmand investerer med fornuft”