Technology Development Fund
Technology Development Fund
The role of the Technology Development Fund is to support development and research in the field of technology aimed at innovation in the Icelandic economy. The fund is under the auspices of the Ministry of Culture, Innovation and Higher Education.
The Technology Development Fund offers four categories of corporate grants: Seed grants (Fræ/Thróunarfræ), and the Sprout, Growth and Market grants. Each grant is tailored to different stages of project development.
Patent grants and Applied research grants are also available for universities and research institutions (usually in collaboration with companies).
All applications must be submitted electronically through the Rannís application portal.
Grants granted by the Technology Development Fund
Grants by the Technology Development Fund
Technology Development Fund
The Icelandic Centre for Research
Sprout grant for companies
Grant to start-up companies or entrepreneurs to support projects in the early stages. The application is submitted in two stages.
05.08.2025 - 15.09.2025
Application period closed 15. September 2025
Innovation, Research, Within Iceland
Technology Development Fund
The Icelandic Centre for Research
Market grants for companies
Marketing grants to small and mid-sized companies working in research and development. The grants are in two categories, for different stages of product preparation for the market.
05.08.2025 - 15.09.2025
Application period closed 15. September 2025
Innovation, Research, Within Iceland
Technology Development Fund
The Icelandic Centre for Research
Growth grant for companies
Grants for development projects that have moved beyond the initial idea stage.
05.08.2025 - 15.09.2025
Application period closed 15. September 2025
Innovation, Research, Within Iceland
Technology Development Fund
The Icelandic Centre for Research
Seed grants for companies (Fræ/Thróunarfræ)
Grants for start-up companies or individuals. Fræ is a preparation grant for projects in planning stages; Thróunarfræ is a preliminary grant for cooperative development projects.
Open year-round
Innovation, Within Iceland
Technology Development Fund
The Icelandic Centre for Research
Grants for patent applications
Grants for the preparation and filing of patent applications, both for priority applications and applications in the international process.
Open year-round
Innovation, Within Iceland
Technology Development Fund
The Icelandic Centre for Research
Applied research projects
Acquisition of new knowledge and skills that can be used to develop innovations or improvements related to products, processes, or services.
20.12.2021 - 07.03.2022
Application period closed 07. March 2022
Innovation, Research, Within Iceland