What is SMV:Digital?
SMV:Digital is a support scheme set up by the Danish Business Authority (Erhvervsstyrelsen) to promote digitalisation among small and medium-sized Danish businesses, also known as SMEs.
The pools give businesses the opportunity to apply for financial grants for private consultancy in areas such as digital strategy, e-commerce, automation, IT security and the implementation of new technology.
The aim is to help businesses become more competitive by making use of digital tools and solutions.
Who can apply, and what does the pool cover?
The pools are aimed at small and medium-sized businesses with up to 249 employees and an annual turnover of no more than EUR 50 million. In addition, the business must have had a minimum turnover of DKK 2 million in its most recently completed financial year.
To apply, the business must be registered in Denmark and have a clear need for digitalisation. The next SMV:Digital pool opens on 30 September 2024 and lets you apply for a grant of up to DKK 100,000.
The grant can be used to cover the cost of private consultancy that can help your business design and implement an effective digital strategy. Note that the grant doesn't cover the entire project, as co-financing is required, typically 50 per cent.
SMV:Digital puts it like this: “1:1 co-financing in the form of your own hours worked (minimum 274 hours at DKK 365/hour), cash payment or a combination.”
The application process
Applying for funds from SMV:Digital takes some thorough preparation. First and foremost, you need to identify where your business can benefit most from digitalisation. Then you need to prepare an application that clearly describes the project's goals and expected results, and how the grant will be used.
The application must be submitted through SMV:Digital's official portal, and there is usually a lot of competition, so a strong application is a clear advantage.
How Amplify can help
At Amplify, we have solid experience in helping businesses through the entire SMV:Digital process. That means we can support you at every step of the way, and among other things, we can help your business with:
- Strategic advice: We help identify the most relevant digitalisation opportunities for your business.
- Application assistance: We make sure your application is precise, well thought out and has the best chance of being approved.
- Implementation: Once the grant has been received, we help turn the plans into reality, so your business gets maximum value from the investment.
When it comes to implementation, we can help specifically with branding, strategy and digital services such as:
We're a full-service digital marketing agency, dedicated to delivering strategic insight and performance that gets results for your business. So of course we can also help you kickstart your business's digital development.
Contact us for advice
Ready to take your business's digital journey to the next level? Contact Amplify today for a no-obligation chat, and let us help you make the most of SMV:Digital. Together, we can make sure your business is equipped for the digital challenges of the future.
Frequently asked questions about SMV:Digital
Is the application process difficult?
It depends on which pool you're applying for. It can often seem more complicated than it really is. However, we have experience with the process at Amplify, so of course we're happy to help you apply.
Can I apply to several different pools?
Yes, but you can't use funds from different pools for the same project, and you must have completed one project before you can apply for a new one.
Do I have to contribute myself?
Yes, there is usually a co-financing requirement. Your own contribution is typically 50 per cent, either as cash payment, your own working hours or a combination of these.
What does it cost to get help with the application?
It's free if you're an existing Amplify client. If you're not already a client, we'll agree on a price.
When will I receive the money?
Payment is made once the project has been completed. This means you have to cover the total costs up front and are then reimbursed for the agreed share. That's because SMV needs to make sure you have used the funds for the agreed purpose.
How can the funds be used?
As a rule, the funds are earmarked for private consultancy. However, this should be understood in a broad sense, as you can also use the consultancy to invest in IT and technology or to strengthen digital skills in the business. This could be in areas such as automation, e-commerce, digital security or anything else that can accelerate innovation and growth in your business.
Is there an upper limit to how much I can receive?
Yes, a business can receive a maximum of EUR 200,000 (approx. DKK 1.5 million) over a three-year period.
