Worth knowing about SME:Digital
Do you want to kickstart your company's digital presence? Then you can get funding from one of the SME:Digital pools. With support from the pools, you can get start-up help to develop and implement digital solutions that can boost your business. But how do the pools work and how can your business benefit from them? I take a closer look here.
What is SME:Digital?
SME:Digital is a support scheme established by the Danish Business Authority with the purpose of promoting digitization among small and medium-sized Danish companies - also known as SMEs.
The pools allow companies to apply for financial support for private consulting in areas such as digital strategy, e-commerce, automation, IT security and implementation of new technology.
The aim is to help businesses become more competitive by leveraging digital tools and solutions.
Who can apply - and what does the pool cover?
The pools target small and medium-sized companies with up to 249 employees and a maximum annual turnover of 50 million euros. In addition, it is a requirement that the company had a minimum turnover of €2 million in the last completed financial year.
To apply, the company must be registered in Denmark and have a clear need for digitization. The next SME:Digital pool opens on September 30, 2024 and allows you to apply for up to DKK 100,000 in grants.
The grant can be used to cover the cost of private consulting to help your company design and implement an effective digital strategy. Please note that the grant does not cover the entire project as co-financing is required - typically 50 percent.
SME:Digital formulates it as follows: "1:1 co-financing in the form of own hours (minimum 274 hours at DKK 365/hour), cash payment or a combination."
The application process
Applying for funding from SME:Digital requires some thorough preparation. First of all, you need to identify where your business can benefit most from digitalization. Then you need to prepare an application that clearly describes the goals and expected results of the project and how the grant will be used.
The application must be submitted through the official SME:Digital portal and there are typically a lot of applicants, so a strong application is a clear advantage.
How Amplify can help
At Amplify, we have extensive experience in helping companies through the entire SME:Digital process. We can support you at every step of the process - we can help your company with:
- Strategic advice: We help identify the most relevant digitalization opportunities for your business.
- Application assistance: We ensure your application is accurate, thorough and has the best chance of being approved.
- Implementation: After the grant is received, we help turn the plans into reality so that your business gets maximum value from the investment.
In terms of implementation, we can help 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 help you kick-start your company's digital development.
Contact us for advice
Ready to take your company's digital journey to the next level? Contact Amplify today for a no-obligation conversation and let us help you make the most of SME:Digital. Together, we can ensure your business is prepared for the digital challenges of the future.
Frequently asked questions about SME:Digital
Is the application process cumbersome?
It depends on which pool you are applying for. It can often seem more complicated than it actually is. However, we have experience with the process at Amplify, so of course we're happy to help you apply.
Can I apply for multiple pools?
Yes - however, you cannot use funds from different pools for the same project, and you must complete one project before you can apply for a new one.
Is there a co-payment?
Yes, there is usually a self-financing requirement. Self-funding is typically 50 percent - either in the form of cash payment, own working hours or a combination of these.
What does it cost to get help with the application?
It's free if you are an existing Amplify customer. If you are not already a customer, we will agree on a price.
When will I receive the money?
The payment is made when the project is completed. This means that you have to pay the total costs yourself and then be reimbursed for the agreed share. This is because the SME must ensure that you have used the funds for the agreed purpose.
How can the funds be used?
The funds are generally earmarked for private consulting. However, this should be understood in a broad sense, as you can also use the advice to invest in IT and technology or to strengthen digital skills in your company. 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 company can receive a maximum of 200,000 EUR (approximately 1.5 million DKK) over a period of three years.
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