The Innovation Fund Denmark invests in the development and marketing of knowledge, new technologies and products with the purpose of finding solutions to societal challenges, support business opportunities and strengthen growth, employment and welfare. With the establishment of the Innovation Fund April 1 2014 the Danish research and innovation system was significantly simplified. The Foundation will be offering grants for activities within strategic research, technology and innovation. The budget of the Foundation is close to DKK 1.6 billion in 2014. The Innovation Fund Denmark will contribute to stronger coherency across research, technological development and innovation, including community partnerships focused on product development and innovation.