Funding opportunities


Financial support for research projects or studies in the Faroe Islands may be achieved from funds in the Faroe Islands or abroad



faroese funding

Faroese government support

Several funds in the Faroe Islands offer financial support for research projects.

The Business Development Fund is a partly government funded fund supporting initiatives which diversify commercial enterprise and increase the use of knowledge. The fund provides grants for e.g. development of goods and services, innovative projects and research and study projects.

Grants are given to Faroese concerns only. Foreign researchers cooperating with a Faroese concern can apply for grants from the Business Development Fund.

The Business Development Fund can grant up to DKK 500,000 to a concern a year. Applications are considered every month.

Read more:

Business Development Fund (in Faroese)




nordic funding

Nordic cooperation

The organisation of Nordic collaboration in research and innovation rests mainly on two pillars, one for research, NordForsk, and one for innovation, Nordic Innovation.

A number of other funds under the Nordic Council, the Nordic Council of Ministers and other organisations with a focus on Nordic co-operation also provide grants for research in the Faroe Islands.




european funding

European research programmes

The Faroe Islands have been an associated country in European research programmes since 2010.The cooperation agreement between the Faroe Islands and EU for Horizon 2020 was signed in December 2014.

As an associated country the Faroe Islands have the same rights and obligations as EU member states and other associated countries.

Faroese researchers have been involved in a range of projects in research areas, such as environment, climate change, ecosystems, stock assessment and fisheries management. 

EU’s programme for research and innovation, Horizon 2020, runs from 2014 to 2020 and has a budget of nearly €80 billion.

Horizon 2020 is the financial instrument implementing the Innovation Union, which is an EU initiative aimed at securing Europe's global competitiveness.

Horizon 2020 has three pillars – Excellent Science, Industrial Leadership and Societal Challenges.