Technology Development Fund

Grant category overview

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Here is a brief overview of the grants granted by the Technology Development Fund.

Patent grant

Type of project: Preparation and submission for a priority application and/or international application

Target group: Universities, institutions, small- and medium-size enterprises, and individuals

Duration of the project: Confirmation valid for 1 year

Maximum grant: ISK 600.000 for a priority application / ISK 1.4 million for an international application

Required matching contribution: 50%

Marketing cost: 0%

Not considered as de minimis aid*

Applied research

Type of project: Acquisition of new knowledge and skills that can be used to develop new products, processes or services, or to achieve significant improvements in older products, processes or services. The project must have clear and realistic goals for exploitation.

Target Group: Universities, public research institutes and public limited companies

Duration of the project: 1-3 years

Maximum grant: 3 x ISK 15 million.

Required matching contribution: 20-25% according to the rule manual (In case of co-applicants, they must also comply with ESA rules on matching contributions, which is 20-25% of the company's recognized costs for the project).

Marketing cost: 0%

Not considered as de minimis aid*

Seed grants (Fræ/Thróunarfræ) for development

Type of project: Idea or project in the early stages

Target group: Businesses in operation five years or less, and individuals

Duration of the project: 12 months

Maximum grant: ISK 2 million

Required matching contribution: 0%

Marketing cost: 0%

Considered de minimis aid*

Market grant

Type of project: Marketing related development projects

Target Group: Small- and medium-size enterprises, with at least 10% R&D of turnover and/or balance sheet

Duration of the project: 1 year

Maximum grant: ISK 10 million

Required matching contribution: 50%

R&D costs: 0%

Considered de minimis aid*

Sprout grant

Type of project: Development projects in the early stages

Target group: Businesses in operation five years or less

Duration of the project: 2 years

Maximum grant: 2 x ISK 10 million

Required matching contribution: 0%

Marketing cost: 10%

Considered de minimis aid*

Growth grant

Type of project: Projects from the early stages of an idea

Target Group: Small- and medium-size enterprises

Duration of the project: 2 years

Maximum grant: 2 x ISK 25 million

Required matching contribution: In accordance with ESA rules on public support for enterprises

Marketing cost: 20%

Not considered as de minimis aid*

* In the case of subsidies from the Technology Development Fund which are deemed to be de minimis, the beneficiaries state that they have not received in the two previous financial years, in addition to the current financial year, subsidies from public bodies deemed to be de minimis amounting to more than EUR 300.000, including the subsidies now being applied for.