The Novo Nordisk Foundation said it has allocated up to €736 million to BioInnovation Institute (BII), a leading institute for life science and deep tech innovation in Copenhagen.
“The funding will enable BII to expand its activities into new strategic areas and geographies, and support even more entrepreneurs and start-up-companies, thereby strengthening innovation in Denmark and Europe,” said the Foundation.
“The new funding frame runs from 2026 to 2035.
“Europe faces a critical challenge: The continent produces world-class science, but lacks behind other leading regions in translating discoveries into groundbreaking innovations that create jobs, drive economic growth and address urgent societal challenges.
“Now, the Novo Nordisk Foundation empowers BII to take a leading role in Europe’s response to pressing issues within human health, planetary health and societal resilience.
“With BII’s proven platform that has already helped create and develop more than 130 companies and attracted more than DKK 7 billion in external funding, the aim is to ensure that Denmark’s innovation engine can scale in a way that supports broader European competitiveness.
“Over the coming years, BII expects to scale its activities by significantly increasing the number of start-ups supported each year. While supporting life science and biotech start-ups will remain key, the new long-term support from the Novo Nordisk Foundation enables BII to venture into new scientific and technological fields like AI and quantum.”
BII’s platform has already attracted major commercial and philanthropic partners. Notable collaborations include joint initiatives with Ferring and the Gates Foundation to advance women’s health innovation, and more recent partnerships with the Villum Foundation and the Lundbeck Foundation to support early-stage start-ups in Power-to-X technologies and brain disease treatment.
Novo Nordisk Foundation CEO Mads Krogsgaard Thomsen said: “We are giving BII the opportunity to expand its reach and further strengthen its position as a European powerhouse for innovation.
“This will prove instrumental in securing that even more science is translated into new companies, jobs and solutions benefitting people and our planet – and ultimately driving the growth and entrepreneurial culture that will benefit European competitiveness.”
BII CEO Jens Nielsen said: “None of this would be possible without the long-term support from the Novo Nordisk Foundation, which provides exceptional conditions for bringing more scientific breakthroughs to the market to address global challenges.
“We have proven that our innovation platform is successful, but we cannot push the boundaries of innovation alone. Strengthening partnerships will remain a top priority as we continue to develop Denmark’s innovation ecosystem and help ensure Europe’s competitiveness.”