We believe in great ideas

Applications for grants from the Entrepreneurship Fund of the Íslandsbanki are accepted until November 1, 2023.

A force for good

We want to be a force for good in society. The fund will offer support to projects that support the four UN SDGs that the bank has chosen to focus on (see below). We encourage applicants to focus on the SDGs and to explain the connection between their project and the goals. These are additional requirements to those already in place and applicants should familiarise themselves with the process.

The 4 UN SDGs

  • Education for all #4

  • Gender equality #5

  • Industry, Innovation and Infrastructure #9

  • Climate action #13

The Fund's objectives

The Fund aims to encourage innovation and development and to support entrepreneurial projects that contribute to the UN SDGs mentioned above.

The Entrepreneurship Fund's Board of Directors

The fund's board is appointed by Íslandsbanki's CEO and is responsible for formulating and deciding the Fund's investment policy.

The board members of the Fund include:

Ari Kristinn Jónsson, former Rector of Reykjavík University and current CEO of Aware GO.

Ragnheiður H. Magnúsdóttir, Founder of the angel investment company Nordic Ignite and consultant at Möggum.

Una Steinsdóttir, Managing Director of Buiness Banking at Íslandsbanki.

The Fund's allocation rules were approved at a board meeting in the autumn of 2019 and were altered at a board meeting in the spring of 2020.

The Fund's board allocates money from the fund to various projects and advertises for applications in accordance with the allocation regulations.

Íslandsbanki makes an initial contribution and also pays a 0.1% contribution on an annual basis.

For more information, see: frumkvodlasjodur@islandsbanki.is.