Clusters are individuals - VDI/VDE-IT

• Increasing the number of companies, jobs and supply of
regional products and services;
• Support of export promotion activities;
• Participation in international projects with the aim of
supporting regional strongholds;
• Attracting foreign direct investment and expertise
knowledge.
The program puts specific emphasis on the support of regional
competitive advantages, such as renewable energy,
food, tourism, fisheries, agriculture, health technology,
clean-tech and biotech.
In order to implement the program the Ministry of Industry
concludes so-called “Growth Agreements” with regional
development agencies. These growth agreements detail
responsibilities of both ministry and regional development
agency. While the ministry’s role is restricted to supervising
and the provision of funds for projects, the actual implementation
lies with the regional development agency:
• The Ministry of Industry appoints five persons to a man
agement board of each growth agreement and finances
up to 50 per cent of eligible costs of individual projects
that are developed in the context of the growth agreements.
• The regional development agency is responsible for the
execution of the growth agreement. They publish open calls
for proposals, process grant applications and propose projects
to the management board for final evaluation. Administrative
costs of the growth agreements shall be paid from the
annual budget of the regional development agency that is
financed through the state general budget.
2.6.1.2 Target Group of the Program
The target group of the program includes companies, R&D
institutions, universities and municipalities that collaborate
in joint initiatives for the benefit of regional development.
2.6.1.3 Term of the Program, Financial Aspects and Application Procedure
Term of the program
Budget
2010-2013 (current funding period)
EUR 3.8 million (ISK 645 million)
Type of funding
Grant funding
Does the program have a specific technology focus
Are there calls for proposals
No
Three times a year
Is there a dialogue with applicants about the improvement
of their application prior to the final
submission of the application
Yes
Maximum funding period for a project
There is no maximum funding period
Is there a maximum amount of funding an applicant
can apply for
There is no maximum amount.
Financing structure of projects • Up to 50% funding from the program
Most important evaluation criteria for project
proposals
• Impact on industry sector and companies
• SME focus or SME participation in activities
• Structure and members of consortium
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