Index: Design to Improve Life will be establishing a fund of up to DKK 300m (over €40m) to invest in life improving design.
Starting next year, all designs submitted for Index: Award 2017 will have the opportunity to win the design prize, worth €500k, and will have the chance to be scouted for investment.
Established and run by Dansk OTC, the fund, Danish Ventures – Investing in Design to Improve Life, aims to invest in design that improves life, and to attract foreign businesses and designers to Denmark.
The fund, which will be equally owned by INDEX: Design to Improve Life® and Dansk OTC, will make 20 to 30 investments over the first 18 – 24 months.
A small part of its profits will be directed to the operation of INDEX: Design to Improve Life, the non-profit organisation which currently receives 30 – 50% of their funding from The Danish Ministry of Business and Growth.
It will be officially launched on 29th January 2016.