INCUBA companies on the fast track: DKK 451 million in new capital and record number of product launches in 2024
Despite a still challenging market, companies managed to attract DKK 451 million in new capital during 2024, while 52% saw an increase in revenue and 45% improved their earnings. This trend reflects the optimism expressed by many founders and CEOs and is also backed up by figures from EIFO's latest reports for 2024, which point to a certain stabilisation in the number of new Danish start-ups.
INCUBA is particularly pleased that almost half of the companies (47%) have hired more employees and that as many as 55% have launched new products during 2024. CEO of INCUBA, Jacob Doktor Mogensen, says:
‘We are proud to see that our companies have maintained strong momentum despite the challenges that entrepreneurs in general have faced in recent years. The new figures show that INCUBA's startups and scaleups not only manage to raise capital, but also manage to create jobs and develop innovative products. This is a testament to a strong environment where networking, knowledge sharing and the right framework for growth go hand in hand.’
Jacob Doktor Mogensen, CEO, INCUBA
This combination of innovation, capital and collaboration is reflected in several INCUBA companies that have made their mark with investments, product launches and growth in 2024.
INCUBA companies continue the growth journey - from biotech to climate solutions
Draupnir Bio is a strong example. In 2024, the biotech company secured DKK 90 million in a seed round to accelerate its targeted protein degradation (TPD) technology, which utilises the body's own protein degradation mechanisms to target proteins that have been difficult to treat. The investment strengthens Draupnir Bio's work to develop new therapies for complex inflammatory and neurological disorders, among others.
‘Our new technology platform is very promising for targets that have previously been difficult or impossible to target with small molecules. With this investment, we have been able to develop our platform to provide new therapeutic options for complex diseases,’ says Co-founder & CSO, Simon Glerup.
Simon Glerup, CSO, Draupnir Bio
Another example is Scalgo, which has strengthened its market position by launching new software solutions for intelligent management of water and climate challenges. The product development has also led to an increased demand for competences, and the company has welcomed several new employees during the year. They have been able to do so in a creative tech environment with great networking opportunities and easy access to future talent at INCUBA.
‘We need the best and most creative computer scientists and engineers, which is why we are thrilled to be close to Aarhus University. In INCUBA, we future-proof our location in an inspiring environment, so we can attract the right competences and continue our journey,’ says Scalgo CEO Morten Revsbæk.
From the left: Thomas Mølhave, CTO & Morten Revsbæk, CEO, Scalgo, INCUBA Katrinebjerg
The positive development is repeated across all industries in the science park and shows that the combination of capital, networks and knowledge sharing continues to drive growth among INCUBA's entrepreneurs.
INCUBA's development in 2024 is also based on strong collaboration with both the university and the other companies in the science park.
Read more about the close connection to Aarhus University in the article INCUBA companies gain great value from collaboration with Aarhus University and dive into the community and collaborative projects between INCUBA companies in INCUBA companies strengthen internal collaboration in 2024.