The life sciences sector, including biotechnology and health sciences, is a growing and exciting industry in Iceland.
With strong government support, an 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.