6 questions about the local start-up ecosystem in Denmark

I am a co-founder & partner in InTech Founders, a European growth accelerator for diverse scale-ups. I have a background as an M&A and finance lawyer from well-known law firms but have since 2013 worked as board member. In 2016, I founded Black Panther Consulting, a company working with growth, funding and debt finance to start-ups and funds benefiting from my huge network of start-ups, experts and investors in Europe. 

In addition to my law degree, I hold the executive degree HD 1 from Copenhagen Business School. Today, I hold various board positions in TimeLog, Fundmarket.dk and Women in Tech and am the founder of Women in Tech Switzerland.

Please name one business tool you could not live/work without.

The World Bank has continually ranked Denmark as Europe’s best country for business. It is a free-market capitalist economy with a flourishing business environment that welcomes all. 

Denmark has one of the best talent pools in the world. Its individuals are incredibly qualified, educated, and multilingual, making it easy for foreigners to do business. 96% of the people in Denmark have secondary education and 47% of them complete their university education.  Moreover, their English proficiency is among the world’s top three. Four out of five people in Denmark speak English and half of them speak German, which is also one of the most spoken languages in Europe. Moreover, Denmark’s labor market is incredibly flexible and transparent, which is why it is quite easy to hire and fire employees.

According to the European Commission, Denmark is regarded as an innovation leader in Europe, thanks to its extensive research and development programs focus on innovation, entrepreneurship, and the intellectual pool of aspiring people.

Denmark’s capital, Copenhagen has a great geographic location that makes it favorable in terms of logistics. It connects Europe, Scandinavia, and the Baltic nations, creating a link to a market that has more than hundred million consumers. According to the World Airport Awards of 2015, the city’s main airport is known as the best airport of the region and is the busiest airport among all Scandinavian airports.

One of the reasons why Denmark has ease of doing business is because its cost of running businesses is low. Denmark has the lowest employer costs and social security rates in Europe. Its overhead costs like office rent are also quite cheaper than other trade cities in Europe. What makes Denmark an ideal business location is the fact that its business and trade operations operate on the value of trust. They don’t just focus on selling products, but also providing value. You can literally take their word for anything. Business owners are extremely transparent and will provide information with great clarity. It is a part of their ethical code that even surprises WHO and other organizations in terms of the standards for international recruitment. According to a survey conducted in Denmark, 70% of the Danish people believe that the Danes can be trusted. That’s why you will see that you are absolutely safe even in the streets. In fact, people leave their sleeping infants out on the streets while they dine in restaurants.

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