IVÆKST: Supporting small businesses growth through AI adoption and optimization

Innovation Fund Winner

Why this program?

  • As Europe works to strengthen its competitiveness in the AI sector, a recent study identifies opportunities to bridge its technology gap and improve its position in several critical future technologies. These opportunities include supporting the adoption of digital technologies like AI and investing in digital skills.
  • For Europe to become a global digital powerhouse, it needs businesses that can lead in AI innovation. A key challenge is that only 8% of European businesses currently use AI and only 3% of the world’s AI unicorns are based in the EU. Europe’s competitiveness and financial stability heavily depend on the ability of European businesses and citizens to effectively adopt AI.

Program overview

IVÆKST’s solution, AI HUB, is a one-stop shop platform aimed at facilitating AI adoption by assessing small businesses’ AI potential and identifying their critical key cybersecurity needs. Designed with small business owners in mind, this platform offers a structured approach, serving both as an assessment tool and an aggregator of accessible AI resources, including tools, case studies, and inspirational content.

The AI HUB aims to equip small businesses with the essential AI tools they need to save time, make more money, and grow in a digital economy. By conducting comprehensive assessments and offering tailored recommendations, the AI HUB helps level the playing field for small business owners across the EU through an innovative online gateway for AI adoption. Small businesses can use the platform to receive bespoke guidance on navigating a wide array of AI tools tailored to their specific needs. 

Mastercard Strive supports the development of this solution by enabling the creation and customization of various features specifically designed to meet the unique needs of small businesses, including:

  • An interactive assessment tool: Enabling small businesses to assess their AI potential based on their own inputs and their current AI and digital maturity. The assessment tool will provide small businesses with tailored guidance and practical, easy-to-implement recommendations.
  • Individualized recommendations: Using the assessment tool, small businesses will receive a bespoke analysis that identifies low-hanging fruit opportunities to help them grow with AI.
  • Case studies: Inspiring case stories will showcase how businesses have grown and become more resilient or profitable through the adoption of AI tools

About IVÆKST

IVÆKST is a growth portal where small businesses can find advice on starting, growing, and developing their ventures. Since 2005, IVÆKST has impacted over 350,000 entrepreneurs and small businesses across four EU countries and serves as an aggregator for tools within the Danish entrepreneurial and small business ecosystem.

IVÆKST’s mission is to help small businesses quickly and securely climb the growth curve with meaningful impact. It provides practical advice, knowledge, and concrete digital tools to support small businesses to grow, innovate, and create jobs. Additionally, IVÆKST is one of Denmark's leading providers of training courses targeted at small businesses. It collaborates with a range of stakeholders to share knowledge and expertise within the broader entrepreneurial and small business ecosystem in Europe.

“We appreciate the opportunity to develop a solution that can help support Europe’s competitiveness and bridge the AI skills gap for small businesses. The support of Mastercard Strive will make a significant impact for thousands of small businesses and support them to adopt AI, create jobs, and drive innovative growth.”

Peter Kofler

CEO at IVÆKST

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Implementation partners
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