Status
Closed for applications
Deadline was 15. September 2025
Application period
05.08.2025 - 15.09.2025
Category
Innovation, Research, Within Iceland
Type
Financing
Service provider
The Icelandic Centre for Research
Growth grant for companies
Grants for development projects that have moved beyond the initial idea stage.
Status
Closed for applications
Deadline was 15. September 2025
Application period
05.08.2025 - 15.09.2025
Category
Innovation, Research, Within Iceland
Type
Financing
Growth grant for companies
Closed for applications / Deadline was 15. September 2025
Growth grant (Vöxtur) is intended to support projects that have moved beyond the initial idea stage.
Projects in this category are primarily research and development projects.
The maximum grant can amount to up to ISK 50 million in total over two years, though no more than ISK 25 million in the first year.
The recorded project costs must at least match the amount of funding granted to the project.
Who can apply?
The main applicant can only be a small or medium-sized enterprise.
Co-applicants may include companies (small, medium, or large), universities, research institutions, or public bodies/limited companies.
Different requirements apply to the applicants’ own contribution to the total project cost, depending on the size of the company, the type of applicant, and the type of project — see the grant rules for details. The application must specify how the co-funding will be provided.
For further information on the requirements, see the rules of the Technology Development Fund.
How to apply
Applications are submitted through Rannís’ electronic application system. Each application must include two documents: a project description and a document with calculations of costs and revenues.
Applicants are encouraged to prepare a realistic work, time, and cost plan that will largely hold if the project proceeds to a contract.
Applicants are also reminded that it is permitted to apply for a Market grant alongside a Growth grant, and that recipients may hold grants in both Growth and Market at the same time.
Answers to questions
Contact the Technology Development Fund by email: taeknithrounarsjodur@rannis.is
Staff phone hours are Monday to Thursday from 10:00–12:00 at +354 515 5800
See also:
Application instructions for the Technology Development Fund
About evaluation and disbursement from the Technology Development Fund
An excel help file is available which can simplify creation of a cost estimate. That file itself does not need to be send with the application, but the numbers calculated there need to be submitted in the appropriate sections of the second stage of the application (sections 3.2 and 3.3).
Applicants without access to Microsoft Office can open the file in OneDrive.
Service provider