17 January 2018
Article

From hobby to professional business in four months

It started out as a hobby project and took off when the boys behind Rosenby Engineering were admitted to Danish Tech Challenge. This is a four-month acceleration program, run by DTU Science Park and the Danish Industry Foundation, in which 20 start-ups are given the opportunity to develop their businesses and products through close sparring with mentors in DTU Science Park.

In January 2018, Rosenby Engineering was named winner of Danish Tech Challenge, and received DKK 500,000 for development of their start-up.

“It was an instructive process, in which we were challenged every single week. We took several ‘beatings’ from the Danish Tech Challenge team, and they gave us an important reality check in relation to the markets and our business plan. In addition, it was an eye-opener for us—in terms of networking—to emerge from our cave and expand our network to the maritime environment. Since we won Danish Tech Challenge, our company has attracted huge attention. The fact that we won has resulted in interesting opportunities which would otherwise not have been available to us at all. We’ve established good contacts with investors, and we’ve several large shipping customers in the pipeline, where we will also have the opportunity to test our product on the ships,” says CEO Jesper Rosenfeldt Hansen.

About Danish Tech Challenge


Danish Tech Challenge is a unique accelerator program for hardware startups, where entrepreneurs accelerate the development of their enterprise while participating in the competition for the Danish Industry Foundation’s Entrepreneur Award with a prize of DKK 500,000.

Register your startup for Danish Tech Challenge

Legal & accounting

Discipline owner: NJORD Law Form & Grant Thornton

Purpose

Ensure that all necessary business documents are in place, comply with legal requirements, and prepare the company for potential future investments.

To ensure that the startup can create reliable and accurate financial reporting and manage its liquidity, essential for conducting business and reporting to investors.

How?
  • 1:1 coaching on using accounting systems, reporting VAT/taxes, and setting up P&L budgets and liquidity budgets.
  • 1:1 coaching on how to use the tools and processes to be ready to attract, hire, and train new employees.
  • You will have access to templates that you can use as inspiration for employment contracts, director agreements, confidentiality agreements, etc.
Outcome
  • Budgets
  • P&L structure (Profit and Loss)
  • Tax including company structure
  • Financial reporting