40 years of impact: From research ideas to robust companies
From idea to company and beyond
The list of companies that have had a base at INCUBA over the years is broad. Some were here in their early days and later grew into their own premises. Others have had long journeys within the science park, developing from small teams into well-established organisations. What they share is that INCUBA has been an active chapter in their development.
This is precisely where the role of the science park becomes clear. INCUBA has never been a final destination. It has been an in-between space. A place where companies could take their next step in an environment that understood the complexity of building knowledge-intensive businesses.
Looking at companies that have spent many years at INCUBA, a clear pattern emerges. They have had access to flexible facilities, close ties to research, a professional environment, and a community of peers. Not as isolated offerings, but as part of everyday life.
Many companies at INCUBA have followed long, demanding paths. They have developed technology, navigated regulation, adapted business models, and built organisations over time.
These are precisely the kinds of companies that create lasting impact. Not only for themselves, but for the society around them. They create jobs, collaborate with universities, contribute to exports, and help strengthen the entire ecosystem.
Here, the science park plays a distinctive role. Not as a guarantee of success, but as an environment that increases the likelihood that good ideas are given the time and conditions to mature.
- Established in 1986 by three researchers from the Department of Mathematics at Aarhus University
- Moved into the Science Park’s pavilions in 1989 and was part of the environment until 1997
- Built its business on number theory and was an early developer of digital signatures for electronic agreements
- Delivered highly secure data security solutions and worked closely with the banking sector
Was born global, with customers in several European countries already by 1990, and later in the US and Germany - Entered into a major agreement in 1994 with German banking groups in collaboration with IBM
Grew to serve 20 international banking customers by the time it moved out, with only minimal revenue from Denmark - Has since raised capital, navigated a challenging market, and created new growth, supported by a strong talent base from Aarhus University
- In 2021, Riverside Europe joined as a co-owner, and Peter Landrock has remained centrally involved
- Originated from research at Aarhus School of Business with a PC-based system for bond analysis
- Moved into the Science Park on Gustav Wieds Vej in 1989 and hired its first employee in 1990
- Developed RIO, which could identify overpriced and underpriced bonds, a novelty in the market at the time
Grew steadily and was profitable throughout the period - Surpassed DKK 5 million in revenue in 1999 and had around 14 employees after 10 years
- Expanded with models for mortgage bonds and collaboration through industrial PhD programmes
- Added the Lima system in 2016, now used by major real estate companies
- Reported revenue of DKK 41 million in 2021, a profit of DKK 14 million, and just over 30 employees
- Was acquired in 2022 by Vitec Software Group, while operations continued under familiar ownership
- Founded in 2008 by midwife Sara Kindberg together with two experienced gynaecologists
- Developed e-learning for the education of healthcare professionals, focusing on improved treatment of birth injuries
- Moved into INCUBA Skejby from 2011 to 2014 with approximately four employees
- Proximity to the maternity ward at Aarhus University Hospital Skejby made the location ideal in the early phase
- Today serves end users at scale and delivers to hospitals and educational institutions globally
- Has also developed apps and teaching materials used widely across countries
- Later moved to Aarhus city centre and continues as a highly specialised business with strong professional expertise
- Sara Kindberg is now a full-time CEO and also active as a business angel
- Collaborates with professional associations in several countries and supports international standardisation of practice
- Founded in 2006 as a spin-out from TDC by the team behind Denmark’s first digital signature
- Chose INCUBA at Katrinebjerg to remain close to the university environment and their educational roots
- Combined consultancy and development activities and generated revenue and profit from the first year
- Grew continuously and had around 10 employees by 2010
- Moved to INCUBA Navitas at its opening in 2014 and maintained its focus on eID and IT security
- In 2014 supported the majority of Danish municipalities and most regions with NemID Erhverv
- Brought NETS in as a controlling co-owner in 2015, followed later by Nexi and then the French group In Groupe
- Continues to be based in Navitas with 24 employees and a strong position in national digital infrastructures
- Management emphasises that INCUBA’s operational support made it easier to focus on the core business
- Established in 2007 and has been based at INCUBA Katrinebjerg ever since
- Develops technology for secure direct connections to Internet of Things devices without routing all data through the cloud
- Positions itself by securely connecting device and user through firewalls and complex networks
- Its software is embedded in more than 2 million devices manufactured and sold globally
- Operates across Smart Energy, Smart Security, Smart Industrial, and Smart Medical
- Has evolved from a physical device to a software development kit that can be downloaded and integrated by manufacturers
- Has collaborated with other companies in the environment, including on practical IoT applications
- Has a small, specialised team and is partly owned by T&W Medical, which has used the technology in hearing aids
- Illustrates how deep technology can be scaled globally from an environment close to talent and specialists
- Founded by a team with experience from Silicon Valley and Aarhus, with the ambition to develop revolutionary search technology
- Built on a biomimetic approach and developed advanced methods for searching scientific texts
Received investment from CAPNOVA and later Scale Capital, followed by Infosys in 2016 - Moved into INCUBA Navitas at the turn of 2016–2017 with 17 employees
- The work showed potential across patents, legal texts, and contracts, not only research
- Early agreements with, among others, Springer helped validate the technology and the market
- An exit process was initiated, and in 2020 the company became part of Cactus Communications
- Continued its activities at INCUBA Navitas with a technology team developing solutions for academic stakeholders
- A clear example of how a specialised product can move from research to an international platform
- Spin-out from Aarhus University’s Department of Biomedicine, established in 2015
- Develops new medicines for neuromuscular diseases and has raised capital in several rounds
- Moved into INCUBA Skejby in May 2020 with around 20 employees and grew to more than 30 by 2023
- Its need for laboratories and animal facilities was met with appropriate infrastructure in Skejby
- Proximity to Aarhus University Hospital was decisive for research, patients, and collaboration partners
- The choice strengthened an Aarhus-based presence in an industry often concentrated in the capital
- The company has attracted international specialists to the city and continues to build on strong local research environments
- The vision is to become world-leading in the field and bring a medicine to market within a few years
- To date, more than DKK 1 billion has been invested in the company to support its clinical development
- Established in 2008 as a spin-out from Aarhus University with roots in the cryptography environment at Katrinebjerg
- Moved from the Alexandra Institute to INCUBA Katrinebjerg and subsequently expanded its structure into multiple companies
- Grew from a handful of employees to around 45 in 2023 and became a strong match for the INCUBA Next concept
- A pioneer in Secure Multi-Party Computation, delivering commercial solutions since 2008
- Evolved from secure auctions to a generic infrastructure for computing on confidential data across networks
- Serves customers in sectors such as healthcare and finance, where data security requirements are extremely high
- Reported a combined profit of DKK 43.5 million and equity of DKK 89.7 million across operating companies in 2022
- Sepior was established as a spin-out in 2013 and was acquired by Blockdaemon in 2022 in a three-digit million transaction
- Management highlights flexibility, proximity to Aarhus University, and access to talent as decisive values of the location
- Established in 2009 with roots in big data research and advanced algorithm development in Aarhus
- Develops digital tools based on massive geodata sets for climate adaptation and the management of rain and seawater
- The launch of SCALGO Live in 2015 marked the start of a clear growth journey
- The platform has more than 20,000 users and is actively used in several European countries
- Used by municipalities, utilities, landscape architects, and consulting engineers for robust water management
- Analyses are based on continuous processing of very large data volumes across countries
- Two thirds of revenue comes from abroad, with a strong development base in Aarhus
- Chose to move into INCUBA Next to future-proof space, talent access, and a creative environment close to Aarhus University
- Demonstrates how research-based technology can become an internationally scalable platform with tangible societal impact
Impact measured in resilience
A significant share of the companies were founded in the 1980s and 1990s and still exist today. This includes research-based organisations and international companies with a Danish development base.
This points to an important insight: impact in a science park environment is not only about speed, but about resilience. About building companies that can withstand market shifts, technological change, and new competitive conditions.
A science park is more than bricks and mortar
Looking back over 40 years, it is clear that INCUBA has evolved significantly. From a traditional science park into a modern, professional development environment focused on serious scaling.
Yet the core remains the same. Creating frameworks where knowledge can be turned into value. Where companies do not face difficult decisions alone. And where the next step is rarely taken in isolation.
The companies at INCUBA, both forty years ago and today, are concrete proof that this approach works. They show that long-term impact does not arise by chance, but through continuity, expertise, and strong relationships.
40 years as a starting point for the next chapter
When INCUBA marks its 40th anniversary, it is therefore not only about history. It is about relevance.
The challenges companies face today are at least as complex as they were 10, 20, or 30 years ago. The need for environments that can bridge research and business has not diminished. On the contrary.
The past 40 years have shown that the right conditions can enable companies to create results that reach far beyond themselves.
