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Step 1: Submission of business plan

DTU Innovationl receives daily enquiries, through SEED Capital, from entrepreneurs seeking funding of their business ideas. In this first step, we evaluate whether the idea is in accordance with – or with a small adjustment could be in accordance with - the criteria’s, which we normally require accomplished in order to invest in a new company.

In particular, we evaluate whether the idea is within one of our focus areas:

• Information and Communication technology
•  Biotechnology and Medicotechnology
•  Materials technology, nanotechnology and automation technology

In addition, we evaluate whether the idea could have satisfactory potential and possibilities for patent protection.

The time lapse for step 1 is between 1–7 days.

Step 2: Preliminary meeting

If step 1 shows a positive potential, we will invite you to a meeting, with the purpose of showing us a more detailed perspective about your business idea. Together we make the first evaluations whether a continued cooperation would be fruitful. Usually the meeting lasts for 1-2 hours.

Step 3: Intern evaluation

After the first meeting and presentation, the group of Investment Managers involved will discuss the potential in the idea and in what conditions it would be interesting for DTU Innovation to participate. At this part of the evaluation, we sometimes have to contact our network of field experts to verify risks and opportunities. Nevertheless, it is important to emphasize that such approaches will only take place when you have been informed and accepted  the involvement of chosen experts.

Depending on the complexity of the case, this step can last up to 3 weeks. Sometimes, considerably less.

Step 4: Verification and adjustment

At this part of the evaluation, the process takes a bit longer because we will more intensely evaluate the idea and the factors that are essential for the prospect of success. In this process, we will focus on four factors:

An investigation of the market potential is time and resource consuming. We will often ask you to secure some of the relevant information in this research. Often we will engage a field expert to go more profoundly into the technology that forms the basis for the formation of your company.
It is very important for us to secure that all rights in relation to the underlying technology have been completely clarified. While this process is active, resources are needed to structure the company to make sure that the taxation of you as an entrepreneur will be as appropriate as possible.
The processes of Step 4.will typically require a number of meetings and an even larger number of e-mails. In this part of the process, we often get to know each other quite well.   

In a positive scenario, Step 4.will lead to a common understanding of the strategy that the company initially ought to follow, including what areas that will be essential for the company to have clarified in its first season as market operational.

Step 5: Term sheet

At Step 5. we will make a brief description of the agreement. The description of the agreement is often mentioned as term sheet. The term sheet will include a description of:

Often the work in Step 5. is made in parallel with the preceding step.

Step 6: Intern approval

A recommendation based on the term sheet will be presented to the partner team of SEED Capital, who has the decisive word in all investments. The partner team meets once a week. Consequently, this process is short.

Step 7: Conclusion of agreement

If the partner team approves the recommendation without reservations, it seldom takes more than a week from the approval until the company is established and the money is deposited in the company’s account.