Danske Bank to help small growth companies

Danske Bank is establishing a strategic partnership with entrepreneurial company Rainmaking. The goal is to help growth companies achieve accelerated success. The first step is a digital platform that is to serve initially as a job portal aimed at entrepreneurs with strong growth potential.

It should be easier for promising entrepreneurs to achieve success with their new companies. This is the objective behind a new strategic collaboration between Danske Bank and Rainmaking, a Danish entrepreneurial company which has established a number of companies and operates a co-working space used by 350 start-ups.

Over the next three years, the parties will collaborate on a series of initiatives with particular emphasis on providing support to the estimated 20,000 small Danish companies that focus on strong growth.

"Small businesses constitute a large part of the Danish economy and the largest part by far of private job creation. They are also dealing with many challenges without having a ‘one-stop shop’ to go for assistance. They have to run the gauntlet between good, but scattered initiatives. We want to change that. It should be easier to be a Danish growth company," says Lars Mørch, Head of Business Banking in Danske Bank.

New channel for small companies with growth ambitions
The first initiative is launching a site, Thehub.dk, which is to be a new channel for small growth companies. The idea is to gather knowledge, networks, tools and an overview of funding opportunities in one place, which will make it easier to run a small company.

However, interviews with more than 100 growth companies reveal an even more urgent need. More than 70 per cent of the small up-and-coming companies are looking for assistance get the right manpower. Therefore, the parties have decided that the first actual launch on the Hub will be a recruitment portal for growth entrepreneurs.

"Today, we are opening a digital platform, initially targeting the need of entrepreneurs and growth companies to recruit highly skilled IT staff, project managers and business developers, among others. Recruitment is a huge barrier for growth, so I think it is the right place to start," says Martin Bjergegaard, partner at Rainmaking, who will be responsible for the operation of both the Hub and the new job portal.

The next phase will include a single point of access to funding for entrepreneurs. Here, the bank and Rainmaking will be the joint link to alternative risk capital.

"Like the cobbler, we stick to our last, offering classic bank loans based on appropriate risk-taking. But we will, to a greater extent, ensure that risk capital and liquidity is made available for exciting business ideas in other ways. Then the bank may enter the picture when the company starts growing and needs bank financing," says Lars Mørch.

For interviews or further information
Peter Kjærgaard, Media Relations, Danske Bank, +45 25 42 42 02
Martin Bjergegaard, Rainmaking Loft, +45 50 51 91 41

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