Denmark will allocate almost EUR 40 million for an innovation fund to support Ukraine

Illustrative image. photo: gettyimages.com

The Danish government will provide DKK 300 million (almost EUR 40 million) for an innovation fund to support Ukraine’s need for rapid technological development on the battlefield.

The day before, Defense Minister Troels Lund Poulsen held consultations with the Foreign Affairs Committee, which supported the allocation of DKK 300 million to an innovation fund to support Ukraine.

The innovation fund will focus, among other things, on technology areas related to electronic warfare and drones, where technology is developing rapidly and where new technological solutions have a significant impact on the battlefield.

“There is no doubt that Ukraine has a great need to withstand the massive pressure it is experiencing on the frontline from Russian troops. Developing new technological solutions on the battlefield is one of the ways that Ukrainians can counterbalance the Russian advantage, and the funds from the Innovation Pool will help to do so. It is important that we continue to support Ukraine so that it can continue its fight for freedom,” said Defense Minister Troels Lund Poulsen.

Given Russia’s significant material and manpower advantage since the beginning of the war, Ukrainians have been forced to develop new technologies, but have also been dependent on foreign knowledge, capital and cooperation.

Denmark has played an important role as one of the largest donors of military support to Ukraine, and the Danish model has helped to strengthen Ukraine’s own production capacity.

“It was very inspiring to see how Ukraine managed to establish impressive arms production in a very short time. I have visited arms manufacturers in Ukraine myself, and I think we can learn a lot from the efficiency that the Ukrainians have achieved over the three years of war,” the Defense Minister said.

“Now we are taking the cooperation with the innovation pool one step further, and I look forward to seeing how we can strengthen Ukraine’s fight for freedom in a new way, where this process takes place more in Denmark and in cooperation with the Armed Forces,” added Mr. Poulsen.