BII appointed by the Danish government to run international deep tech start-up accelerator

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 of quantum science through start-up innovation, the Danish Government has appointed 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, which 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 to commercialize groundbreaking new dual-use technologies that can address 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 ecosystem is one of the fastest growing. The DIANA Quantum Centre is a unique platform for expanding the Danish ecosystem 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.

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