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:
Mulitinational pharmaceuticals companies Alvogen and Alvotec operate their high technology center in the science park of the University of Iceland. Their main focus is on development and production of generic pharmaceuticals.
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.