Denmark ideal for entrepreneurs and start-ups

Copenhagen is ideal for any entrepreneur planning on floating a start-up.

In September 2019, Copenhagen hosted TechBBQ, “the biggest startup and innovation summit in Scandinavia”.

More than 7,000 startup founders, investors, enthusiasts, and representatives of the biggest tech companies globally, came to Copenhagen for the tech event held from September 17 to 18, 2019.

Often referred to as the “unicorn factory”, Copenhagen is indeed a startup’s paradise.

TechBBQ and another grassroot organization, Copenhagen For The Win (CPHFTW), are believed to have laid down the foundation for the flourishing ecosystem that can be seen in Copenhagen today.

However, despite being the launching pad for many billion-dollar companies, Copenhagen has traditionally struggled to maintain its hold on those startups with the passage of time. Many startups – Sitecore, Unity, Zendesk, Trustpilot, and Tradeshift – have all fled the coop, so to speak.

Though responsible for the creation of over 14,000 jobs between them, merely 700 of those jobs are within Denmark as of now.

A primary reason for the startups shifting their base elsewhere can be said to be the lack of a cohesive startup community in Copenhagen about ten years ago.

Today, there are many kinds of startup hubs and coworking spaces in Copenhagen to choose from. Additionally, many accelerator programs are available in the city as well. In keeping with the main startup trends in the region, such accelerator programs generally offer a combination of various niche programs.

Similar to TechBBQ, Tech Festival also brings together innovators.

For local companies to hire the people they need, a good idea would be to try and roll out their international offices as soon as possible in order to get access to global talent.

As per the World Bank’s Report Doing Business 2019, Denmark ranks at #3 on the “ease of doing business rankings”.  The absence of red tape in the establishment of a business is believed to be major reason for Denmark being regarded as among the best countries in the world for entrepreneurs. Interestingly, you can set up a new company in Denmark within 24 hours.

There are also a number of government-backed programs for helping startups.

While Copenhagen has all that it takes for a strong and stable ecosystem, senior talent and scaling capital are required to transform the startups into multinationals.

Reportedly, Denmark is also contemplating changes in its immigration policy which could lead to global talent and international investors gravitating to the country in the near future.

More the reason to invest in Denmark.

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