The IT University of Copenhagen was granted status as an independent university on July 1, 2003, but started its activities in 1999.
The Minister of Research and Information Technology appointed an interim board of directors for the IT University with Mr. Mogens Munk Rasmussen, Chief Executive Officer of Nykredit A/S, as Chairman of the Board. The first Director of the IT University, Dr. Mads Tofte, was appointed on April 1, 1999.
The IT University opened on August 31, 1999 with approximately 150 graduate students, four new study programmes and a staff of some 20 people. In the summer of 2001 the first 60 students graduated from the university. By the summer of 2003 more than 300 students have graduated.
In 2002, the first PhD graduates were produced and the first two new professors were appointed. In September 2003, Mr. Helge Sander, Minister for Science, Technology and Innovation awarded ITU the prize as "Annual Entrepreneur University."