What You Should Know About SMV:Digital
Do you want to kickstart your business’s digital presence? If so, you have the opportunity to receive a grant from one of SMV:Digital’s funding pools. With support from these funds, you can get help getting started with developing and implementing digital solutions that can strengthen your business. But how do the funds work, and how can your business benefit from them? I’ll take a closer look at that here.
What is SMV:Digital?
SMV:Digital is a support program established by the Danish Business Authority with the aim of promoting digitalization among small and medium-sized Danish businesses—also known as SMEs.
These funds allow companies to apply for financial grants for private consulting services in areas such as digital strategy, e-commerce, automation, IT security, and the implementation of new technology.
The goal is to help businesses become more competitive by leveraging digital tools and solutions.
Who is eligible to apply—and what does the fund cover?
The funding programs are aimed at small and medium-sized enterprises with up to 249 employees and annual revenue of no more than 50 million euros. In addition, the company must have had a minimum revenue of 2 million in its most recent fiscal year.
To be eligible to apply, a business must be registered in Denmark and have a clear need for digitalization. The next SMV:Digital funding round opens on September 30, 2024, and offers the opportunity to apply for a grant of up to 100,000 DKK.
The grant can be used to cover the costs of private consulting services that can help your business develop and implement an effective digital strategy. Please note that the grant does not cover the entire project, as there is a co-financing requirement—typically 50 percent.
SMV:Digital puts it this way: “1:1 co-financing in the form of hours worked by the applicant (a minimum of 274 hours at 365 DKK per hour), cash payment, or a combination of the two.”
The Application Process
Applying for funding from SMV:Digital requires some thorough preparation. First and foremost, you need to identify where your business can benefit most from digitization. Next, you must prepare an application that clearly describes the project’s goals and expected results, as well as how the grant will be used.
Applications must be submitted through SMV:Digital's official portal, and there is typically a lot of competition, so a strong application is a clear advantage.
Here's How Amplify Can Help
At Amplify, we have extensive experience helping businesses navigate the entire SMV:Digital process. We can therefore support you at every stage of the process—among other things, we can help your business with:
- Strategic Consulting: We help you identify the most relevant digital transformation opportunities for your business.
- Application Assistance: We ensure that your application is accurate, well-prepared, and has the best chance of being approved.
- Implementation: Once the grant has been received, we’ll help you turn your plans into reality so your business can get the most out of the investment.
When it comes to implementation, we can provide concrete assistance with branding, strategy, and digital services such as:
We are a full-service digital marketing agency dedicated to delivering strategic insights and performance that drive results for your business. That’s why we can, of course, also help you kickstart your company’s digital transformation.
Contact us for advice
Are you ready to take your business’s digital journey to the next level? Contact Amplify today for a no-obligation consultation, and let us help you make the most of SMV:Digital. Together, we can ensure that your business is prepared for the digital challenges of the future.
Frequently Asked Questions About SMV:Digital
Is the application process complicated?
It depends on which grant program you're applying for. It can often seem more complicated than it actually is. However, we at Amplify have experience with the process, so we'd be happy to help you with your application.
Can I apply for more than one grant program?
Yes—however, you cannot use funds from different programs for the same project, and you must complete one project before you can apply for a new one.
Is there a copayment?
Yes, there is usually a requirement for self-funding. Self-funding is typically 50 percent—either in the form of a cash payment, hours of work contributed by the participant, or a combination of the two.
How much does it cost to get help with the application?
It's free if you're an existing Amplify customer. If you're not already a customer, we'll work out a price.
When will I receive the payment?
Payment is made once the project is completed. This means that you must cover the total costs yourself and will then be reimbursed for the agreed-upon portion. This is because SMV needs to ensure that you have used the funds for the agreed-upon purpose.
How can the funds be used?
As a general rule, the funds are earmarked for private consulting. However, this should be understood in a broad sense, as you can also use the consulting services to invest in IT and technology or to strengthen digital competencies within your company. This may include areas such as automation, e-commerce, digital security, or other initiatives that can accelerate innovation and growth in your company.
Is there a maximum amount I can receive?
Yes, a company can receive a maximum of 200,000 EUR (approximately 1.5 million DKK) over a three-year period.
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