Minister of Business: EU Slowdown Weakens Danish Startups

Minister of Industry, Business and Financial Affairs Morten Bødskov visited the biosolutions company Nordic Microbes in Odense on Monday to gain insight into the challenges Danish startups are facing.

Danish startups are characterized by their ability to develop new and innovative solutions, many of which aim to promote the green transition.

However, bureaucracy and lengthy processing times in the EU are hindering the development, particularly for the green startups in Denmark that are working on future technologies such as biosolutions. This disadvantageous situation puts these companies at a competitive disadvantage globally compared to companies outside the EU.

“The development of future technologies is a Danish strength. Biosolutions is one of the areas with the potential to create a new and more sustainable world,” says Minister of Industry, Business and Financial Affairs Morten Bødskov and continues:

“But outdated legislation is hindering development in the EU. When new biological alternatives need to be approved, such as pesticides, the processing time in the EU can take up to eight years. This is not acceptable when it only takes one to two years in the USA. We have long fought for this from the Danish side, and fortunately, promising signs can be seen in the Commission. During our EU presidency, we must change the framework for biotech. We do not have time to wait for more years. Speed is key if we are not to lose the global competition for green jobs.”

Denmark has advocated for an increased focus on biotech, and most recently, European Commission President Ursula Von der Leyen has highlighted this in her political guidelines. The government is working diligently to modernize EU rules so that they translate into initiatives that place Danish and European companies in the best possible position on the global stage.