Eygló Harðardóttir minister of welfare presented a grant for 1.000.000 ISK to the Gerosion team on Tuesday the 15th of April. The grant is meant to be spent on marketing affairs for the company. 266 applications were filed this year and only 38 projects (14%) received grants.
Since 1991 the Ministry of Welfare has once a year awarded grants to women entrepreneurs in Iceland, 35.000.000 ISK pr. year with the aim of encouraging women to start up their own companies and to increase their access to finance. The ministry awards the grants but the fund is hosted by the Directorate of Labor.
The requirements for a grant is that the project/company has to be owned by a woman at least 50%, the idea has to be innovative and make jobs in the long run. Grants are awarded for making business plans, for marketing, product development and a wage grant to start up a company. The project cannot be in direct competition with other products/services on the market. On the photo, Kolbrún R. Ragnarsdóttir and Sunna Ó. Wallevik are receiving the grant on the behalf of Gerosion. http://www.startupenergyreykjavik.com/en/frettir/gerosion-receives-a-grant