Denmark is among Europe’s innovation leaders, with a strong science base, high overall investments in R&D activities, and particular strengths in a range of fields. While this position is under no immediate threat, this review finds Denmark failing to fully leverage its strengths and to adjust to a changing global innovation landscape. The review recommends a number of specific changes – evolving the role of particular parts of the Danish innovation system, enhancing the coordination across them, and adding particular new features. More importantly, however, the review suggests a broad-based effort to create an overarching Danish innovation strategy, and an institutional architecture to underpin it. The lack of such an integrating structure has left the Danish system perform below its potential, despite good or even excellent performance in individual parts. Filling this gap promises significant rewards but will take strong political will beyond one ministry.