IPU was founded as an independent institution on May 23, 1956 as a collaboration between the then Productivity Commission in the Ministry of Commerce, the Professors Ove Hoff, K.V. Olsen, Bredahl Sørensen, and Vagn Aage Jeppesen; the latter initiating the establishment.Since then, the main objective of IPU has been to translate The Technical University of Denmark DTU's knowledge into consulting services and products that strengthen the development and competitive ability of the Danish industry.