AU Launch grant to be awarded to entrepreneurs with great potential for the second time
Aarhus University wants to help its entrepreneurial researchers and students at the very beginning of their entrepreneurial adventure with the AU Launch grant. The aim of the initiative is to put an end to the lack of access to venture capital for untested business concepts at the university.
Entrepreneurship is thriving among students and researchers at Aarhus University, but academic entrepreneurs may need venture capital in the early stages of their journey. The AU Launch grant at Aarhus University will now contribute to this for the second time since 2022.
The grant will help startups at the university demonstrate the business potential of the fledgling companies. They are often based on new knowledge and new ideas that take longer to mature than other types of companies. At the same time, the market conditions for the concepts can also be difficult to assess during the start-up period.
According to Jonas Brandt, Head of Business Development at AU's entrepreneurship hub The Kitchen, the need for external capital is crucial to taking knowledge companies to the next level.
"Many knowledge-based startups have experienced a gap in the funding landscape where it has been difficult to find venture capital for the first, important steps on the entrepreneurial journey. With AU Launch, we can bridge this gap and give many of our talented academic entrepreneurs a better boost on their journey. This is not only important for the success of entrepreneurs, but also for the university's desire to promote development and bring value to society," says the lead business developer.
Grant applicants may receive up to DKK 250,000. per. round of applications and up to DKK 400,000. per. year, as you are allowed to apply several times. The money is given to the development of business ideas that require a particularly financially intensive effort to do business. This can, for example be capital for specialist and consultancy services, renting laboratories or buying high-tech equipment.
This year, the AU Launch grant stems from the political agreement on the distribution of the research reserve funds for 2024, where a new type of grant was allocated in the 2024 Finance Act in the form of funds to strengthen universities' innovation efforts. In addition, there is funding from the Salling Foundation.
A wide range of AU entrepreneurs can apply for the grant. It may be heavy research projects with spinout potential or student projects that have developed into actual business. The grant can be applied for by established AU startups or by entrepreneurs who have not yet received a CVR number.
At the last round of applications of 2022, MedicQuant was one of the lucky applicants to receive funding from AU Launch. The company has developed a new technology that can quickly reveal the level of medicine in the blood of stroke sufferers and thus reduce mortality and injury in stroke patients.
The company is headed by researchers Line Dubois and Malthe Hansen from Department of Chemistry, who received DKK 197,600. from AU Launch to create the best conditions for the company to conquer the European and American markets.
According to Malthe Hansen, the grant therefore came to define the direction of MedicQuant. In 2022, Malthe Hansen stated:
"Specifically, the funding will be used to determine the optimal way to get our product approved in the EU and United States in collaboration with an external consultant. AU Launch makes it possible for us to make a clear decision about which of the two markets to focus on first."
The application deadline is 18. September, and there will be another round later in the autumn.
Read more about AU Launch here
Facts
AU Launch
• Grant applicants may receive up to DKK 250,000. per. round and up to DKK 400,000. per. year.
• The selection panel consists of representatives from AU's academic environment, The Kitchen and the investment industry.
• The money is given to the development of business ideas that require a special financial effort to put into practice.
• A wide range of AU entrepreneurs can apply for the grant. It may be heavy research projects with spinout potential or study projects that have developed into actual business.