Cases
Mental ID: Mental Health Startup Finds New Life in Denmark
Sep 19, 2024 Mental ID, a French-German startup focusing on innovative mental health solutions, was on the brink of dissolving. However, with the right guidance and support, the company not only survived but found a new home in Denmark, thanks to Copenhagen Capacity, the official organization for investment promotion in Greater Copenhagen.The Challenge: Close to Collapse
Founded with a vision to revolutionize mental health care through advanced technology, Mental ID faced significant hurdles that nearly led to its closure. With regulatory, financial, and strategic challenges mounting, the startup had to find a way to secure its future or risk losing all the progress it had made. At this critical juncture, the founders sought a new base to rebuild and grow the company—this is when Denmark emerged as the ideal option.
"It’s an exciting company that operates with great innovation. This scalable company appears to be developing something very intriguing, based on artificial intelligence and a more comprehensive approach to diagnosis and patient profiling,"
Asbjørn Overgaard, CEO at Copenhagen Capacity.
Why Denmark?
Denmark's thriving tech ecosystem, strong focus on health innovation, and favourable business climate made it an attractive option for Mental ID to restart its journey. Copenhagen, as a startup hub, offers access to funding, talent, and research institutions with a deep focus on healthcare. Christel Paris-Bicking, the founder and CEO of Mental ID, chose Copenhagen for its strategic placement close to the globally recognized Medicon Valley and her profound values of honesty, trust, and transparency that resonate well in the Danish work environment.
"I was amazed by the warm and ultra-professional welcome I received as a foreign entrepreneur at Copenhagen Capacity"
Christel Paris-Bicking, founder and CEO of Mental ID
How Copenhagen Capacity Helped
At the heart of Mental ID’s successful move to Denmark was Copenhagen Capacity, which played an instrumental role in facilitating the company's relocation and growth in the region. Copenhagen Capacity provided comprehensive support, offering:
- Guidance on Establishing in Denmark: The organization helped Mental ID navigate the complex process of setting up a business in a foreign country, offering expert advice on administrative, legal, and regulatory requirements.
- Access to Local Networks: Copenhagen Capacity connected the startup to key players within the Danish mental health and tech ecosystem, enabling valuable partnerships and collaborations.
- Strategic Insights: By offering insights into the Danish market, Copenhagen Capacity equipped Mental ID with the knowledge it needed to adjust its strategy and thrive in its new environment.
Denmark: The Ideal Base for Health Innovation
For startups like Mental ID, Denmark offers a unique blend of opportunities. The country is known for its ease of doing business, robust healthcare sector, and openness to innovation. With a strong governmental commitment to digital health, Denmark has become a preferred destination for health tech companies seeking growth and success in Europe.
Let’s welcome Mental ID to its next chapter in Copenhagen.
