INCUBA announces tha despite a challenging economic climate, startups and scaleups at INCUBA experienced significant growth in 2024, securing DKK 451 million in new capital, launching innovative products, and expanding their teams. The annual IMPACT analysis reveals that 52% of these companies increased their revenue, while 45% improved their profitability, demonstrating the resilience and potential of the Aarhus tech ecosystem.

Strong Growth Amidst Uncertain Conditions

INCUBA-based companies continue to attract capital, introduce new products, and hire talent. According to INCUBA’s latest report, 47% of the affiliated startups have expanded their workforce, and 55% have brought new products to market. This impressive performance underscores the strength of Aarhus’s innovation-driven business environment.

"We are proud to see that our companies have maintained strong momentum despite the challenges entrepreneurs have faced in recent years. These numbers demonstrate that INCUBA’s startups and scaleups not only succeed in raising capital but also create jobs and develop groundbreaking products. This is a testament to the strength of our ecosystem, where networking, knowledge-sharing, and the right conditions for growth go hand in hand," says Jacob Doktor Mogensen, CEO of INCUBA.

Innovation as a Key Driver

Several INCUBA startups have distinguished themselves in 2024 with significant investments and strategic product launches. One standout example is Draupnir Bio, a biotech company that secured DKK 90 million in a seed funding round. The investment aims to accelerate the development of its targeted protein degradation (TPD) technology, which has the potential to revolutionize treatments for inflammatory and neurological disorders.

"Our new technology platform shows great promise for previously hard-to-target diseases. This funding allows us to advance our platform and bring new therapeutic options for complex conditions," says Simon Glerup, Co-founder & CSO of Draupnir Bio.

Another thriving company, Scalgo, has strengthened its market position with new software solutions for intelligent water and climate management. Growing demand for Scalgo’s technology has led to new hires, further reinforcing Aarhus’s role as a hub for tech innovation. The company credits INCUBA’s dynamic tech community with playing a crucial role in attracting top talent.

"We need the best and most creative data scientists and engineers, which is why we are excited to be close to Aarhus University. INCUBA provides an inspiring environment that helps us secure the right talent and continue our journey," says Morten Revsbæk, CEO of Scalgo.

Aarhus Tech Scene on the Rise

The latest achievements of INCUBA startups confirm that Aarhus’s tech ecosystem is not just surviving but thriving. With a strong focus on innovation, investment, and talent acquisition, the city is solidifying its reputation as a leading hub for technological advancements in Denmark and beyond. As INCUBA companies continue to grow and scale, they contribute significantly to the regional economy and reinforce Aarhus’s status as a vibrant center for entrepreneurship and cutting-edge innovation.