The dashboard provides key data on funding granted by Research Council Faroe Islands. The dashboard shows statistics on applications and funding by different parameters from 2006 onwards.
The Research Council administers several funding schemes which, upon application, may provide support for research, development, and innovation. For each support scheme, there is an expert committee that decides which projects are to be awarded funding. Applications for research funding are submitted for evaluation by independent reviewers when the size of the grant and the scope of the project warrant it.
All schemes whose purpose is to provide financial support for research, development, and innovation may, by agreement, be placed under the administration of the Research Council in accordance with the applicable Act of Parliament.
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Description of the funding schemes
Funding for Research
The Parliament (Løgting) allocates an annual budget to the Research Funding scheme, which is the main public funding scheme for research in the Faroe Islands. The scheme is established by law and executive order, and funding has been awarded since 1996.
Health Insurance Fund
Funds were allocated by Act of Parliament and agreement in 2014, when private health insurance funds were abolished. Two schemes were established: Small Projects and Research. Funding was awarded from 2014 to 2021, when all funds were fully distributed.
Memorial Fund for Dánjal Niclasen
Funding provided by a private foundation in 2017. All funds were distributed in 2018.
COVID-19 Emergency Funding
Emergency funding provided by private companies and the Health Insurance Fund in 2020. All funding was distributed in 2020.
Labour Market Initiatives
Funds were allocated by Act of Parliament and agreement in 2022, following the closure of the Holiday Fund. Two schemes were established: Small Projects and Research. Funding has been awarded since 2022 and will continue until all funds are distributed.
MARiNAO
Funding for marine research in the North Atlantic Ocean (Marine Research in the North Atlantic Ocean – MARiNAO). The scheme is financed through allocations from the Danish Finance Act and administered under an agreement from 2020. Funding has been awarded since 2022 and continues as long as annual allocations are available.
FASDiNA
Funding for research on foreign affairs, security, and defence in the North Atlantic (Foreign Affairs, Security and Defence in the North Atlantic – FASDiNA). The scheme is financed through allocations from the Danish Finance Act and administered under an agreement from 2023. Funding has been awarded since 2024 and continues as long as annual allocations are available.