Why Denmark , Mark Jagiela?

Dear Mark,

Would you help me find the answer why foreigners should choose Denmark for business?

In the Danish Competitiveness Council, we will over the next two years, try to find 20 answers to “why Denmark?” in a global market.

You have a lot of experience with Danish companies since Teradyne have acquired the 2 most successful robot companies in Denmark and are right now investing in the world largest cobot hub here in Odense as well.

It would be very helpful if you have the time to put some words on why Teradyne has chosen Danish companies.

All the best and thanks again,

Thomas

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Hi Thomas,

Good question! Certainly, Teradyne didn’t set out to buy a Danish company per se. We set out, on a global search, to find the best companies in the emerging field of collaborative robots. We looked at many companies, in many geographies, and twice we found the best company in Denmark.  So, as you ask, why Denmark?

I think it is because of a rare but important balance of innovation, design aesthetic, execution, and an ambitious but practical business sense. There are many companies that can demonstrate one, two, or sometimes three of these characteristics but hitting on all four is a rare find and a “hidden gem”. The fact that Teradyne has found this twice, in Odense, makes us either lucky, or wise, or a bit of both.

There are now many global competitors to Universal Robots and MiR but with one look at our products you can sense a difference. This design aesthetic is something that is underappreciated in an industrial business. However, it truly begins the journey of capturing the customer’s imagination that this is a unique product, well thought out, and one he/she wants to own.  I think many people in the world understand the unique Danish design aesthetic so maybe this is the least surprising of the four characteristics, but it is important.

Maybe most surprising is the level of innovation and execution in Denmark in these highly technical fields. In the case of Cobots, I think the concentration of the technical education system and start-up incubation activity in the Odense area has allowed the best ideas to bubble to the top.  Usually, businesses and engineers are competitive and tend to create “silos” around their ideas and their “correct” way of solving a problem. In academically strong regions, these barriers are less prevalent at the formative stages of start-ups and the collaborative environment of university work and research extends into the early, formative years, of a company. I think this early collaboration allows for faster innovation. Although I’m far from an expert in the Danish culture, I think there’s also a more natural collaborative nature at work as well that helps accelerate this “fast collaboration” beyond other academic “hubs” in the world. 

Finally, to have a successful business, the last characteristic of an ambitious but practical global business sense is key. Working with the UR and MiR leadership teams quickly demonstrated this drive, pragmatism, and straightforward communication and approach.  Just like not all American companies have the same culture neither do all Danish companies. However, in the case of Teradyne, UR, and MiR; we share a straightforward fact-based approach to running our businesses with shared ambitious goals, a global mindset, and an appreciation that it takes a talented global team to win in global markets. I think there is a psychology in Danish business leadership, that comes from a long history of successful global Danish companies, that seeds this ambition and drive.

 I hope this helps, Thomas and I wish you the best of luck!

 Mark