Chocolate Cloud is one of the companies chosen for co-financing by the Market Development Fund

The Market Development Fund has chosen to support 20 promising projects with total financing of 46.4 million. kr., which will help companies’ innovative ideas to come to the market faster and achieve success.

The aim of the Market Development Fund is to promote growth, employment, and export, particularly for small and medium-sized enterprises in areas where Denmark has particular strengths and potential.

Chocolate Cloud’s project, a Multi-Cloud Storage for Data Privacy, Ultra-Reliability and GDPR, is among the 20 selected projects to get support from the Market Development Fund.  The purpose of the project is to test a multi-cloud storage solution that allows saving data on different and geographically selected clouds for increasing data security and contributing to the compliance with the new General Data Protection Rules. The solution will be tested by national as well as international companies to take advantage of the global market potential. 

Business Minister Brian Mikkelsen:

“The government will strengthen Denmark as a production and innovation country. The accelerated technological development means that our innovative companies will soon be on the market with their new solutions. Otherwise, they will be overtaken by global competitors. This is especially true for providers of new digital solutions where development is extremely fast. This can help the Market Fund. “

There are 13 digital solutions among the 20 supported projects, which are part of the 46.4 million. kr. One of the solutions gives companies better control over where their data is stored. Another makes use of 3D scanning and robotics to automate some of the processing in the pig sector, which today is a workforce process. The fund also supports several projects in the medical field, including a project to help people survive cardiac arrest.

“The Market Development Fund has chosen to support 20 projects targeting a variety of markets. The fund enables companies to test and adapt their products and solutions to the market needs so that the potential of the solutions can be met “, says the Chairman of the Market Development Fund Carsten With Thygesen.