Investment & Fund Management
the client faced significant challenges in securing
Full Credential Description
In the case of InnovAid, a Danish company specializing in interactive rehabilitation assistance, the client faced significant challenges in securing funding for international expansion due to insufficient collateral. Founded by Martin Hjort, who was motivated by his personal experience as a parent of a child with cerebral palsy, InnovAid developed innovative rehabilitation products like the Happy Rehab system, which combines interactive computer games with a dynamic stander frame to enhance cognitive and motor skills for individuals with disabilities.
To address the funding gap, InnovAid turned to Vaekstfonden, an EIF financial intermediary, and successfully obtained an EU-supported loan under the InnovFin programme. This financing provided InnovAid with access to capital at more favorable conditions, enabling the company to increase its production capacity and hire additional staff. As a result of this support, Martin Hjort expressed confidence that the international expansion of InnovAid would lead to a doubling of sales within the next two years. This case highlights the critical role of tailored financial solutions in facilitating the growth of innovative SMEs in the rehabilitation sector.