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14 reasons to launch your tech- start-up in Copenhagen Science City in 2023

14 reasons to launch or scale your business in Copenhagen Science City. Photo_Daniel_Rasmussen_Wonderful Copenhagen

In a globalised world, your talent for tech and your tech start-up is welcomed almost everywhere in the world. So why should you choose Copenhagen Science City over any other innovative, easy to do business in, connected to all major markets and overflowing with angel-investors- city? This article lists 14 reasons Copenhagen Science City really IS one of the best places in Europe to launch or scale your innovation intensive company in 2023. By Jes Andersen.

1. Innovation districts are great for business

When large research institutions and small nimble businesses co-locate within limited geographical areas both flourish. This has been shown in several research projects as well as in real life. Innovation districts such as Silicon Valley, Bostons Kendall Square and yes; Copenhagen Science City, are proof of this principle.

2. Copenhagen Science City is a pretty good innovation district

Copenhagen Science City is a two square kilometre innovation district, where a university, a university hospital and a university college collaborate to create the perfect conditions for your innovation intensive start-up.

3. Your neighbours will be innovation start-ups too

In Copenhagen Science City, more than 450 companies have set up shop in local start-up communities. Many to take advantage of the opportunities for co-creating, developing and testing high concept products. At all times, there are also on average 80 active student-start-ups. Collaborating with other start-ups can be an ideal way to integrate new technology into your own business. Co-locating with other start-ups also makes it easier to buy their products, invest in their solutions and sell your own services to them.

4. Denmark is seriously good at R&D

Being part of an inspiring scene can spur you on to great things. If you want to inspire your co-workers to be innovative, there are few settings better than Denmark. The country ranks as one of the most innovative countries in the world. Fourth in the EU. Tenth in the world.
When it comes specifically to digital government, the Danes are actual world champions according to the United Nations. This provides an interesting business opportunity for tech-companies hoping to develop solutions for fair and efficient public administration for the world.

5. Doing business is easy here

Running a business is hard work. The last thing you need is friction from government institutions. If you want to avoid spending your time interacting with lawyers and officials, you might want to choose Denmark. According to analysts at the World Bank, Denmark ranked as one of the easiest places in the world to do business in 2020. (No 4 after New Zealand, Singapore and Hong Kong). In other words, it is the easiest country in Europe for doing business.

6. Even starting a business is easy here

Starting a business is even harder work. Access to a functioning entrepreneurship eco-system makes the task that little bit easier. Denmark scores very highly on almost all factors. In fact, the country is one of the worlds best for entrepreneurship. According to GEDI, the Global Entrepreneurship and Development Institute, Denmark is number 1 in the EU and places 6th in the world.

7. Hard-to-find- staff is easy to attract and retain

An innovation intensive start-up usually needs staff, which is in high demand all over the world. It is wise to choose a location, which is attractive to the talent you need to hire. Denmark is best in the EU in its ability to grow, attract and retain talent. According to the 2022 Global Talent Competitiveness Index from business school INSEAD, Denmark, as a whole, is 3rd in the world in talent competitiveness while our capital, Copenhagen, scores an impressive 17th place (PP82) over more globally known tech- talent destinations such as London, New York and Paris.

8. Getting rid of staff is easier here too

When the economy hits a slump, excess employees can weigh down even the most succesful company. In Denmark, the so-called Danish Flexicurity model means that workers are easy to let go. In part, this is because they retain health insurance and a basic income if they are laid off. This makes them less risk averse. In fact, Denmark has one of the world’s most flexible regulations for hiring and redundancy.

9. You will never have to pay a bribe

Corrupt officials may be the most damaging single factor standing in the way of entrepreneurship. Having to pay a bribe to get a building permit or avoid a fine destroys faith in society and diminishes the appetite for building a valuable company. According to the corruption-monitoring organisation Transparency International, Denmark shares a spot with new Zealand as the least corrupt nation in the world.

10. You and your staff will be free and safe

At first sight, personal freedom may not seem to have much bearing on commercial businesses. Personal freedom, however, is measured in factors such as rule of law, freedom from violence, crime and discrimination and freedom to travel, share information and, yes: Do business. All of it regardless of gender, sexual orientation, race, religion or origin. Denmark has a long history of balancing the freedom of companies to operate with the freedom of citizens from unsafe products, working conditions and environments. Yet our country ranks as number one in the EU and number 3 in the world when it comes to personal freedom while Copenhagen is the safest city in the world.

11. Don’t worry. Your staff will be happy

Ever since national happiness evaluations started in 2012, Danes have ranked as possibly the happiest people in the world. We swap places with Finland occasionally, but we are still cheerful. National happiness may be an unusual business metric, but researchers have found that a significant explanation for Danish happiness is, that we trust each other and our government institutions. An environment of trust can encourage innovation, and thus strengthen your start-up.

12. Expats love living in Denmark

Liveability is definitely a soft business metric, but think about it. Your innovation intensive start-up will want to hire the most creative and skilled co-workers, and you probably will need to recruit them from all over the world. If they do not like living where you set up your business, you will lose key workers. Thanks to great work-life balance, strong opportunities for career-development and opportunities for interesting jobs, 9 out of 10 expats in Denmark are “happy”, or even “very happy” with their life in Denmark.

13. We are extremely family friendly

Building a thriving company is important. Raising a thriving family is vital. With free universal healthcare, high quality/low cost childcare and free education from preschool to PHD, Denmark is one of the best places in the world to raise children. 6th in the world, 4th in EU. So while you get busy launching your company, you can rest assured that your children are growing up the Danish way. Safe, happy, healthy and with a great chance to live creative and innovative lives in a highly affluent country.

14. Live the American Dream the Danish way

Every parent wants their child to move up in the world. In the USA, this upward social mobility is known as the American dream. It just so happens, that poor people are more likely to reach the top in Denmark than almost anywhere else. Even if you do not have children, this is important for your innovation intensive start-up. Inequality has been shown to hamper innovation and entrepreneurship.

A cumulative championship

In conclusion; Denmark is frequently a champion- Always a runner up. We may not be the best at everything, but we do get all the important things right. Copenhagen Science City may not, in itself, be the best innovation district in the world, but in combination with the Danish society that surrounds us, we do feel entitled to call ourselves “Possibly the best place in Europe to launch or scale your innovation based business”, and we welcome you and your tech start-up to join us.