BioInnovation Institute appointed by the Danish government to run international deep tech start-up accelerator to unlock the potential in quantum science

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May 11, 2023, 03:00 ET

COPENHAGEN, Denmark, May 11, 2023 /PRNewswire/ -- BioInnovation Institute (BII), an international non-profit foundation incubating and accelerating world-class life science research, announces the launch of a new deep tech accelerator start-up program, the Deep Tech Lab - Quantum, to propel emergent and disruptive quantum science and biotechnology solutions toward the marketplace.

Deep tech and quantum science have received significant attention from governmental organizations, universities, and investors for their potential to play a role in tackling significant societal challenges. To unlock the potential in quantum science through start-up innovation, the Danish Government has appointed the BII to create and run a new deep tech start-up accelerator.

Troels Lund Poulsen, acting Danish Minister of Defence, says: "It is the Government's ambition that Denmark remains at the forefront of quantum technology development. Our ability to innovate is a key part of this ambition. Quantum is of great strategic importance to Denmark and requires close collaboration between the Government, universities and private entities. We are very pleased that BII and a number of Danish universities have partnered with us to contribute to the DIANA and help realize the dual-use potential of quantum solutions."

As part of Denmark's vibrant innovation ecosystem in quantum science, the accelerator will act as an important step in fostering the most impactful technological solutions developed by the best and brightest innovators.

Jens Nielsen, Chief Executive Officer of BioInnovation Institute says: "We are proud to have been appointed by the Danish government to drive the new quantum accelerator in collaboration with strong players in the science ecosystem. We truly believe this initiative is a big step forward in further exploiting the commercial potential that quantum science holds. BII offers a strong platform to bring groundbreaking life sciences research and innovative ideas to the market."

BII is set to maintain its close collaboration with The Novo Nordisk Foundation, which recently announced funding to develop Denmark's first fully operational quantum computer.

Mads Krogsgaard Thomsen, CEO, Novo Nordisk Foundation says: "I am thrilled to see BioInnovation Institute take on the operation of the new Deep Tech Lab – Quantum accelerator, as it is a testament to the effectiveness and success of BII's life science acceleration programs. This expansion into new related areas clearly demonstrates BII's commitment to continuous innovation and growth. By strengthening the innovation ecosystem this way, we can drive the development of groundbreaking solutions that benefit people and society."

Propelling dual-use technologies toward the marketplace

The Deep Tech Lab was initiated as part of Denmark's recently announced contribution to NATO's Defence Innovation Accelerator for the North Atlantic (DIANA) Initiative. The initiative has close ties to NATO's newly launched innovation fund through which it is expected to fund early-stage start-ups with up to 1 billion euros over a 15-year timeframe.

The Danish government appointed BII to operate the accelerator by leveraging BII's current program model in commercializing groundbreaking new dual-use technologies that can address both societal problems and national security issues, e.g., new radar technologies or communication technologies based on quantum science.

BII will operate the new accelerator in close collaboration with academia and industry organizations to seek out novel, cutting-edge technological solutions. It will take advantage of Denmark's strong innovation ecosystem within quantum science, such as the newly launched NATO Center for Quantum Technology at the Niels Bohr Institute at the University of Copenhagen, to develop commercially viable start-up companies within deep tech and quantum science.

"Denmark has an internationally recognized position within quantum technology, and the Danish eco system is one of the fastest growing. The DIANA Quantum Centre is a unique platform for expanding the Danish eco system and for attracting companies, talent, and investments in Danish high technology, and for further strengthening the Danish research in the field of quantum technology," says Jan Westenkær Thomsen, Head of Department at the Niels Bohr Institute, where the DIANA Center is established with contributions from DTU, AU and the Danish National Metrology Institute.

Using a proven business acceleration program

The new quantum start-up accelerator will be built on the same ground principles as BII's Venture Lab program, which has already proven to be a successful and attractive innovation platform for accelerating early-stage life science start-up projects. Establishing a quantum start-up accelerator is only one of many initiatives to position Denmark as a world leader in quantum science, a field expected to hold tremendous potential.

The start-up companies in the program will gain access to a network of top-tier trusted investors, business mentorship, and education from expert staff, and state-of-the-art testing opportunities in BII's office space and laboratories. It is also planned that some of the companies may receive non-dilutive funding (investment capital that does not require ownership in the company).

The first deep tech start-up companies are expected to join the accelerator program in the fall of 2023, and it is expected to have a fully operational program in Copenhagen, Denmark, as part of a pan-European network of similar start-up accelerators in 2025.

Read more at www.deeptechlab.bii.dk

About Defence Innovation Accelerator for the North Atlantic (DIANA):

DIANAQ (Defence Innovation Accelerator for the North Atlantic Quantum Center) provides deep tech and dual-use innovators with access to NATO resources including grant funding, accelerator programming, and pathways to adapt their solutions for defence and security needs. Read more on: https://www.diana.nato.int

About the DeepTech Lab:

Deep Tech Lab - Quantum supports startups in quantum technologies to drive innovation, cultivate the ecosystem, and strengthen Denmark's leadership in the field. The program focuses on business acceleration, scientific advancement, and team development. It offers unique resources for startups seeking to accelerate their growth and achieve their full potential. Through its affiliation with the DIANA Center for Quantum Technologies, Deep Tech Lab - Quantum will also be part of the DIANAQ Accelerator Network established by NATO to foster an eco-system of innovators within several emerging and disruptive technology areas. Deep Tech Lab is an independent entity under BioInnovation Institute (BII). Read more at www.deeptechlab.bii.dk

About the BioInnovation Institute Foundation:

At BioInnovation Institute (BII), we accelerate world-class life science start-up innovation for the benefit of people and society. As a non-profit institute, BII operates the company creation programs, Bio Studio, Venture Lab and Venture House, to support life science start-ups with knowledge, network, infrastructure and funding of up to 3M EUR per projects and 1,8 M EUR per start-up. With our expertise, network, funding, and infrastructure, we empower startups to succeed and believe in the transformative power of life science innovation. Read more on www.bioinnovationinstitute.com

SOURCE BioInnovation Institute