Íslandsbanki Entrepreneurship Fund

One of the great traditions in Iceland is that major banks actively support culture, entrepreneurship, education, and sports through dedicated funds and sponsorships. Among these initiatives is the Íslandsbanki Entrepreneurship Fund (Frumkvöðlasjóður Íslandsbanka), which focuses on backing entrepreneurial projects that strengthen society and promote sustainable development.

The fund provides grants to initiatives that align with four United Nations Global Goals that Íslandsbanki has chosen to emphasize:

• Quality Education (#4)

• Gender Equality (#5)

• Innovation and Infrastructure (#9)

• Climate Action (#13)

Established in 2019, the fund awards grants once a year. In 2025, allocations range from 1 to 5 million ISK, supporting projects that offer meaningful and measurable social impact.

From our experience: This year was the first time ALO Ísland applied to the fund, and we were pleasantly surprised by how straightforward the process was. The application was fully digital and supported by user-friendly software. We were asked to submit a PDF slide presentation outlining our project idea, timeline, budget, expected results, and overall societal impact.

We are very excited to share that we secured a grant from the fund!

ALO Ísland received 1,000,000 ISK for our upcoming project Viltu Business 2026, a combination of research on foreign-born entrepreneurs in Iceland and a community event where we will present our findings.

We look forward to sharing more about the project as it develops and extend our heartfelt thanks to Íslandsbanki for supporting initiatives that help create a more inclusive and innovative Iceland.