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With innovative solutions, young budding entrepreneurs like you create fertile ground for solving the world’s biggest challenges, and young startups play an important role in us reaching the Sustainable Development Goals in 2030. That is why we at The Danish Foundation for Entrepreneurship have decided that all applicants in the application must decide whether you work with sustainability in one form or another. 

However, this does not mean that you must work with sustainability or the SDGs in order to receive a Micro Grant. But still consider what it might mean to you if you do not. 

Why concern ourselves with sustainability? 

• In 2015, the world’s state and government leaders adopted 17 ambitious Sustainable Development Goals on behalf of the UN, which provide the direction for how we can ensure a development that is socially, economically and environmentally sustainable by 2030. And from 2024 all large companies must report on their work with the sustainable transition, including in their value chain. Since reporting of the entire value chain is the focus of the large companies, this means that small and medium-sized companies must also expect to be met with demands for more reporting for use by other companies’ reporting on their value chain, even if they are not covered by the directive 
• It has also become a must for companies that want to attract investors to have a well-developed ESG strategy. Both locally and globally, an ESG strategy and doing due diligence on ESG is no longer nice to have but in many cases a decisive element in having a healthy business in the long run 

Ask yourselves the following 3 questions (source: Danish Chamber of Commerce)

1. What would happen if your company was not here? 

• It must be clear why your team is doing what you are doing, what difference will your idea/startup make and what would happen if you did not exist? When you answer the following, the answer should preferably be more than that you create growth and jobs – because all companies do that 
• Think abouth which real societal problems your idea/startup solves. Then show your customers action options so they can help contribute positively to or reduce their negative impact on the world. Here it is no about which good causes you support if they buy your product or service but about finding the purpose of your business 
• If you want to work with sustainability in your company, focus on being able to document and explain that your product or service is part of the solution – and not of the problem  
  
  

2. Is your company attractive to the next generation of employees? 

• 20% of the world’s population is between 13-25 years old, this constitutes the largest generation of youth in human history. This group show some clear preferences when it comes to their future employer 
• Diversity and multiplicity have e.g., a great significance for this generation and those that follow them. Both female and male from this generation look at the proportion of women in management in a company, they look at opportunities for a family-friendly workplace and the look for flexibility when choosing their new employer  
• Startups may find it difficult to match large companies when it comes to salary and employee benefits, but they can easily compete on parameters such as meaning and inclusiveness. And you should take advantage of that 
• When your startup has found the purpose of your existence, the next step should be to communicate it to future and existing employees 

3. Have you considered the SDGs in your product development?  

• The use of the SDGs in the development phase can help ensure an outside-in perspective on your idea/startup, your products and services 
• Many companies use offers from other companies to facilitate their development of new products, services and business models based on the 17 SDGs 
• Most courses are based on an identification of ideas where the best combination of SDG potential and business potential is selected, concepts are developes and finally prototypes and concrete business plans are developed. Therefore, you must have the good business ideas in advance and the market analysis and the business case are still indispensable methods of analysis 

SDG 

SDG stands for “Sustainable Development Goals”. The global goals consist of 17 goals that describe how we must ensure social and economic justice and a sustainable future. Not only are there 17 goals, there are a further 169 subgoals and 232 indicators. 

Read more about the UN’s 17 SDGs here

ESG

ESG stands for ‘Environmental, Social and Governance’ and covers essential information about a company within the environment and climate, the company’s social/societal impact and the general management of the company (governance). ESG data is the non-financial data that investors and analysts increasingly demand when assessing a company’s ability to create value and long-term growth opportunities.

Read more here

Net Zero

Net Zero means reducing greenhous gas emissions to as close to zero as possible.

CSR

CSR is the abbreviation for ‘Corporate Social Responsibility’. The term covers the company’s social responsibility. CSR initiatives are activities that aim to create value for society and the company’s stakeholders. The initiatives can deal with the company’s work with employees’ conditions, social conditions, economic challenges, climate or environment. 

Read more here

Circular economy 

Circular economy is an economic business model based on sustainability. In a circular economy, products and materials are in a continuous cycle. This meas that products can either be used several times, or that its materials can be used in new products.

Read more here

Ecological footprint 

Ecological footprint is an expression of human consumption of natural resources. The ecological footprint can be calculated for a product or a society. 

Green washing 

Green washing is also called ’environmental claims’. Green washing is when the marketing uses  nice words to get the product/service/company look more green or sustainable than it really is increase their sales.