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:

  • 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.

Reykjavik Science City from Eventa Films on Vimeo.


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.


Erna Björnsdóttir

Project manager
+354 511 4000
E-mail: erna[at]

For further information

Related article

Over 1,000 Years of Genetic History Contribute to Strong Biotech R&D

Dating back over 1,000 years, the Icelandic genome has changed considerably. However, as many in the life science space know, the Icelandic genome was...

View article

Related article

Icelandic Medical Device Company, Focusing on Wound Care, Completes Significant Clinical Trials

Kerecis produces a medical product (i.e., skin graft) for the treatment of wounds. This product, called Kerecis Omega3 Wound, is derived from intact f...

View article

Related article

From a Leader in the Marine Sector to a Global Life Science Player

For centuries the foundation of the Icelandic economy has been well-derived from the marine sector. As the annual catch decreases significantly over t...

View article View all articles

Excellent Infrastructure

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


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.