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Westfjords Development Fund

The purpose of the Westfjords Development Fund (Uppbyggingarsjóður Vestfjarða) is to support cultural, business development and innovation projects in the Westfjords and to provide support for start-up and operating costs to cultural institutions in the Westfjords.

Applications will be accepted in Icelandic or English with an excerpt in Icelandic.

Applications can be on behalf of individuals of legal age, community organizations, companies or institutions in the Westfjords. Applicants must have an Icelandic ID number (kennitala).

Applications must be submitted electronically at http://www.vestfirdir.is/uppbyggingarsjodur  and the following apply:

a) Applicants must have submitted final or progress reports for previous grants awarded by the Development Fund before applying for a follow-up project.

b) Applications are evaluated in a professional manner based on the credibility and quality of applications and projects related to their impact on business development, innovation, human resources, culture and daily life in the short term.

c) Grants from the Development Fund can account for to up to 50% of the estimated total costs of the project.

d) The salary cost of the applicants shall be based on take-home salary plus salary-related expenses, according to general wage agreements.

 

Eligible projects

 a) Grants from the Development Fund must be in line with the objectives of the Westfjords Development Strategy 2020-2024.

 b) The Westfjords Development Fund supports projects that promote the development of the economy and enrich cultural life and innovation in the Westfjords.

 

Eligible projects include:

• Processing and dissemination of research results

• Cultural festivals

• Development of employment of youth in the Westfjords

• Environmental projects with sustainability as a guiding principle

• Innovation

• Education-related projects that increase collaboration between schools

• Cultural events

• Business development

• Preparation of business plans

• Preparation of marketing plans

• Implementation of design in product development

• Development of organizational efficiency methods and workflows

 

The Development Fund does not finance:

a) Investments in companies or purchase of real estate.

b) Purchase of computers or general office equipment, except in the case of start-up and operating cost grants.

c) Registration of cultural artifacts  or preservation of acheological artifacts .

d) Established or existing town festivals, established sports or religious activities, or existing cultural projects within schools.

 e) Grants for research projects. If related to research, the projects should rather revolve around the utilization or dissemination of research results.

f) Costs incurred before 1 January 2021.

g) Projects or applicants that receive more than 200 thousand Euros in support from public bodies over each three-year period must follow the guidelines listed in Article 3. EU Commission Regulation no. 1407/2013 of 18 December 2013.

 

Special consideration

When allocating to business development and innovation projects, special consideration will be given to:

 a) Projects that increase the utilization of digital technology.

 b) Projects that promote product development, innovation or implementation of designs in existing companies.

 c) Projects that strengthen the environmentally friendly image of the Westfjords, promote sustainability and create a positive environmental impact.

 d) Projects intending to apply to an international fund.

 

When allocating to cultural projects, special consideration will be given to:

a) Projects that strengthen co-operation between areas in the Westfjords.

b) Projects that create jobs within the creative industries.

c) Projects that promote cultural diversity.