Applications are now open for the Grindavík Small Business Fund.
The Development Fund is accepting applications for grants from the Growth Fund for small businesses in Grindavík. The purpose of the Growth Fund is to support small business operators in Grindavík with the goal of enabling them to look toward the future in their operations.
The application deadline is 4:00 PM, September 10, 2026.
Initially, 180 million króna was allocated to the Project Fund. In November 2025, the first distribution from the fund took place, and approved grants totaled 130.4 million króna. The remaining funds allocated to the project will now be distributed.
Applications must include, among other things, the intended purpose of the grant and how it will be used for ongoing operations.
Eligible are businesses that were operating in Grindavík on November 10, 2023, and otherwise meet the requirements of the rules for the Recovery Fund.
Funding is provided for the following purposes:
- Grant for the purchase of equipment or tools to enhance operations in Grindavík.
- Funding to make changes to operations in order to strengthen the foundations of current operations.
To be eligible for a grant from the fund, the applicant must meet all of the following requirements:
- Have been operating in Grindavík since November 10, 2023.
- Have at least one employee on the payroll at the time the application is submitted.
- Revenue for the year 2023 was under 250 million kr.
- The applicant is not in default on public payments.
- The applicant's estate has not been placed in bankruptcy.
Applicants can be individuals or companies. Here you can find Rules for the allocation of grants from the Community Fund by the Development Agency.
Applications must be submitted via the online application form at Application Portal Development Agency.
For more information about grants from the Parish Fund, please contact Pétur Friðjónsson, Project Manager of the Parish Fund.peturf@byggdastofnun.is (Phone: 455 5400)