How to apply | The Icelandic Centre for Research

Enriched Nordic · Found: 2026-03-11 08:06

Undergraduate and master's students can apply for a grant irrespective of their university's country. Students must have a supervisor specified to apply for a ...

Source: https://en.rannis.is/funding/research/icelandic-student-innovation-fund/how-to-apply/

Funding Details

Funder

The Icelandic Centre for Research (Rannís)

Funding Goal

To give universities, research institutes, and companies an opportunity to hire undergraduate and master's students for summer research and development projects, fostering innovation and economic potential.

Funding Amount

340,000 ISK per month per student, up to 3 months (max ~1,020,000 ISK per student). Total fund budget: 105 million ISK (90M from Ministry + 15M from Reykjavík). (340.000 € – 1.020.000 €)

Deadline

February 5, 2026 at 15:00 PM (for the 2026 round) (Fixed)

How to Apply

Applications open once annually. For 2026, the deadline was February 5 at 15:00 PM. Payment is structured as 80% upon contract signing and 20% upon submission of a final technical report and research paper. Students receiving direct bank transfers don't need to submit a tax card, as tax settlement occurs the following year.

Target Region

Iceland (Nordic)

Contact

Email: nsn@rannis.is | General: rannis@rannis.is | Phone: +354 515 5800 | Address: Borgartún 30, IS-105 Reykjavík, Iceland

Official Page

https://en.rannis.is/funding/research/icelandic-student-innovation-fund/

Last Checked

2026-03-12 05:57

Application Checklist

Eligibility

• Applicant must be an undergraduate or master's student (or a supervisor applying on their behalf)
• Student must have a designated supervisor at a university, research institute, or company
• Grant recipient must be an Icelandic university, institution, company, or student with Icelandic ID (kennitala)

Project Scope

• Project must focus on research and/or development — cannot be a final thesis

Required Documents

• Submit final technical report and research paper to receive the remaining 20% of funding

Constraints

• Maximum funding duration is 3 months per student
• Application deadline for 2026 round was February 5 at 15:00 PM

Summary

The Icelandic Student Innovation Fund is administered by The Icelandic Centre for Research (Rannís) and supports summer research and development work for undergraduate and master's students. Established in 1992, the fund receives 90 million ISK from Iceland's Ministry of Education and Culture plus 15 million ISK from the city of Reykjavík. Students can receive up to 3 months of support at 340,000 ISK per month. Undergraduate and master's students can apply regardless of their university's country, provided they have a designated supervisor. Supervisors at universities, research institutes, or companies may also apply on behalf of students. Projects must focus on research and/or development and cannot be a final thesis. Grants are paid to Icelandic universities, institutions, companies, or students with an Icelandic ID number (kennitala). The fund prioritizes projects demonstrating economic potential and innovation, with preference given to ventures involving cost-sharing from companies or other parties. Payment is structured as 80% upon contract signing and 20% upon submission of a final technical report and research paper. Since its establishment, the fund has supported hundreds of student research projects across Iceland.

Historical Context

Established in 1992. Has supported hundreds of student projects since inception. Funded annually by Iceland's Ministry of Education and Culture (90 million ISK) and the city of Reykjavík (15 million ISK).

Sources

• https://en.rannis.is/funding/research/icelandic-student-innovation-fund/how-to-apply/
• https://en.rannis.is/funding/research/icelandic-student-innovation-fund/

Similar Programs

← Back to list