Businessman Otto Mønsted is best known for establishing Denmark’s first margarine
factory, as well as the world’s largest margarine factory in London in the late 1800s. After
he and his wife, Anna Sophie Mønsted, passed away, the Otto Mønsted Foundation was
established in 1934 in accordance with the couple’s will.

Today, the foundation distributes approximately DKK 35–40 million annually to support
various educational purposes, including student travel grants.

Furthermore, the Otto Mønsted Foundation presents the Bright Idea Award every year in
the following categories:

• Fast Track – DKK 100,000: Awarded to the best idea with a clear and direct path to becoming a market-ready product, hence the name Fast Track.
• Early Stage – DKK 250,000: Awarded to the best early-stage idea.
• Late Stage – DKK 250,000: Awarded to the best late-stage idea.

This year's award ceremony will take place on October 4, from 4:00 to 4:30 PM, at the
Startup Stage.

Otto Mønsted Fonden