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Life Sciences

The life sciences sector, including biotechnology and health sciences, is a growing and exciting industry in Iceland.

With strong government supportan impressive academic network, advanced health care system and the country's natural energy resources, Iceland offers great opportunities for knowledge-based industries such as biotechnology.

Reasons to choose Iceland:

A supportive political and commercial atmosphere

There is a strong atmosphere of goodwill and political support for the life sciences sector in Iceland. This includes:

  • Encouraging incentives for research and development and its commercial applications.
  • Favourable patent legislation
  • A low 20% corporate tax

An open and highly developed scientific community

  • The new Vatnsmýri Science Park in Reykjavik is a symbol of Iceland's rich and organised scientific community, bridging the gap between the academic and the corporate worlds.
  • Icelandic companies embody this link, such as:
  • Multinational pharmaceuticals company Alvogen is constructing a new high technology center on the campus of the University of Iceland, where development and production of generic pharmaceuticals will be the main focus.
  • Iceland's science sector also boasts a highly educated, multilingual workforce, composed of many whom have studied on either side of the Atlantic.

Unique opportunities in geothermal research

Iceland's unique natural environment offers opportunities such as:

  • Low cost, environmentally friendly power
  • Opportunities for innovation and discovery in areas such as energy, microorganisms and biotechnology.

Get in touch

For further information on the benefits of establishing a business in Iceland please feel free to contact us.

Contact

Kristinn Hafliðason

Project manager
+354 511 4000
E-mail:kristinn@invest.is

For further information

Excellent Infrastructure

Iceland has excellent infrastructure, from basic infrastructure to information and communications technology, road systems, air connections and freight ports.

Tourism

Opportunities in the tourism industry in Iceland have never been better. With strong political and business support, public-private partnerships and ever- growing numbers of visitors to the country, tourism is a true area of growth.

Sodium Chlorate

For an electricity intensive process such as sodium chlorate production, Iceland's access to low-cost, geothermal energy makes it a highly attractive option.