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Íslandsbanki awards grants to 15 innovation projects in the amount of ISK 40m

ÍSB supports projects that promote the UN Sustainable Development Goals prioritised by the Bank

Fifteen companies were awarded grants from the Íslandsbanki Entrepreneurship Fund in its annual allocation, made today. The combined amount of the grants was ISK 40m. 

The Fund always receives a large number of applications – this year they were 90 in all. Since its inception, the Fund has awarded ISK 165m in grants to a wide range of projects. 

The aim of the Íslandsbanki Entrepreneurship Fund is to encourage innovation and development and to support entrepreneurial endeavours that further the four UN Global Goals that the Bank has decided to prioritise. The four goals selected by the Bank are Quality Education; Gender Equality; Industry, Innovation, and Infrastructure; and Climate Action. Furthermore, the Fund operates according to Íslandsbanki’s social policy, in line with the Bank’s objective of being a force for good in the community.

It is exciting to see the fertility in Icelandic entrepreneurial activities, which is reflected in the large number of applications we receive every year for grants from the Íslandsbanki Entrepreneurship Fund. The projects are incredibly diverse, but they are all highly intriguing, and they stem from a genuine desire to improve the world and participate in Iceland’s future economic growth. It is most gratifying to be able to contribute in this way to the advancement of Icelandic brainpower.”
Una Steinsdóttir
Director of Retail Banking, Íslandsbanki

The Íslandsbanki Entrepreneurship Fund is financed with a matching contribution from the Bank in the amount of 0.1% of the total annual balance of Vaxtasproti savings accounts. The Fund’s board is unchanged between years. Its members are Ari Kristinn Jónsson, former president of Reykjavík University and current CEO of AwareGO; Hrund Gunnsteinsdóttir, Managing Director of Festa; and Una Steinsdóttir, Director of Retail Banking at Íslandsbanki.

The following projects received grants from the Íslandsbanki Entrepreneurship Fund this year: