Tendo IMG_4885 - Year review

A year of cannabis, bending robot and a data center: Direct Inward Investment 2017 Overview

Invest in Odense cases

The City of Odense saw triple digit growth rates in inward investments in the past year. When looking at the cases that our team, Invest in Odense, was involved in, we can see a year to year increase of more than 200% in direct investments and job creation.


Size matters

Some of the bigger cases (100+ million DKK) include the building of a hyper scale data center that Facebook announced in January, Canadian Canopy Growth acquiring greenery Nældebakken in Odense, in December 2017, to produce medical cannabis. This acquisition will create around 125 jobs.

Midsize investments include: Dutch Louwman Group: their Danish company Zealand Care, which provides maintenance and distribution services for mobility aids for the elderly and disabled, confirmed their position as market leader in Denmark by opening a large facility in Odense. Tasfo bought the former Technical School, transforming the beautiful old school into 100 apartments at one of the city’s top locations. Tasfo is a family owned company investing in properties and companies. They moved their company office from Fredericia to Odense in 2017.

Startups have also found their way to Odense. Tendo came with all three team members from Sweden to continue building their glove-like exoskeleton as part of Odense Robotics’ Startup Hub.


From all over the world

Odense has received investments from all over the world. Besides the US, Canadian and Dutch investments mentioned earlier, we welcomed Japanese, Croatian, Norwegian, Icelandic, Finish, Irish, British, Lithuanian, Chinese and of course Danish companies.

The investment cases were quite equally spread over the key areas Odense is known to excel at: Drones (4), Robotics (5), Health Tech (6), Data centers (4), Real Estate (2), Others (8).

Via Odense Seed & Venture we helped to secure at least 63 million DKK direct investments (mainly venture capital and business angels) in local tech companies. Both the Business Angels Annual Meeting and Odense Investor Summit – Robots meet Capital were a huge success and attracted national and international investors to Odense.


Not only high tech jobs

Invest in Odense is focusing on unique tech capabilities. Odense is known far beyond the borders of the kingdom of Denmark, for its strong ecosystem excelling in collaborative robots and the national test center for drones. The jobs that are being created by companies that have chosen Odense are very diverse and not limited to high tech robot engineers, drone pilots or software developers. On the contrary – the 2017 direct investments also created jobs within construction, transportation, production, warehouse logistics, food & beverage, education, service and maintenance.


Partnerships are the key to success

None of the work we are doing could be done without our strong partners, which include: UAS Denmark, Welfare Tech and Odense Robotics. The good relationship with Invest in Denmark was intensified in 2017, including hosting INDK’s global conference reception at Odense City Hall in November and participating in joint inward investment tours to China, Taiwan and Japan. Do to strong teamwork within the municipality we have success stories with the Department of Urban development (BKF) and The Department of Employment and Social Services (BSF), always assisted by ICO, International Community Odense – a dedicated team that supports expats and companies new to the city.


Further Information:

Joost Nijhoff
+45 40469001