Innovation and Entrepreneurship Support System

Vinnuframi is a foundation under the jurisdiction of the Faroese Ministry of Foreign Affairs and Trade. The foundation provides help, counselling and financial support to Faroese commercial projects. Contact:

Íverksetarahúsið is an entrepreneurial house located in Klaksvík, yet its activity spans across the entire Faroe Islands. In addition to rendering help and counsel to Faroese entrepreneurs and businesses, Íverksetarahúsið is also responsible for instructing primary and lower secondary school teachers in entrepreneurship, which they in turn can teach their students. Íverksetarahúsið further offers entrepreneurs in-house office spaces in Klaksvík. Contact:

Hugskotið is an entrepreneurial house located in the Faroese capital of Tórshavn. The purpose of the house is to render help and counsel to entrepreneurs and firms. Hugskotið is home to 20-30 start-up businesses and falls under the jurisdiction of the municipality of Tórshavn (Tórshavnar Kommuna). Contact:

H2020 SME Instrument
The Faroe Islands is an associated member of the EU, which provides Faroese SME (small medium enterprises) with the opportunity to apply for financial support on the same basis as other EU member states. Horizon 2020 is administered by The Faroese Research Council (Granskingarráðið), and Vinnuframi provides counselling and instructions when it comes to applications. More information here.

Framtak is a foundation which provides financial support to Faroese businesses and corporations. Contact:

Vestnorden Fonden
Vestnorden is a Nordic foundation which provides financial support to Faroese and Greenlandic businesses and corporations. Contact: