Project Fund of the University of Akureyri (Akureyri Fund)
The Project Fund of the University of Akureyri awards grants to smaller projects within the university's faculties, student associations and collaborative institutes such as he Icelandic Maritime Research Agency, the Fisheries Research Institute and the Vilhjálmur Stefánsson Foundation. This fund replaces numerous smaller grants that the town of Akureyri previously awarded to the University of Akureyri .
The grant is designed to support:
1) Conferences or major gatherings held in Akureyri or events that are of importance to the area.
2) Publishing and promotional endeavours.
3) Cultural activities or other features that the board of directors considers subject to these rules.
The amount of the grant is ISK 1 million for each year.
Grant allocation is in the hands of a three member board of directors, appointed by the university council for terms of two years. One of the members represents one of the university's collaborative institutes. The fund board of directors submits a report to the Akureyri town council in January annually on the grants that have been awarded by the fund.
The fund board of directors also formulates regulations on the processing of applications and application periods. In assessing applications the fund board of directors takes into account the following:
1) The value of the proposed project.
2) The project is clearly delimited with clear and well-reasoned objectives.
3) The knowledge and proficiency of the applicant.
4) The project has a sound and credible business plan and that the cost estimate is in accordance with the objective.
5) The project involves an important or novel contribution in its field.
Projects implemented in collaboration with the town of Akureyri (e.g. because of joint promotional issues or the holding of a conference) may be given priority for the awarding of a grant.
It should be noted that grants are not awarded when it is clear that other funds are better suited for boosting the project in question. For instance grants are not awarded for research because the University of Akureyri Research Fund is better equipped to support such projects. Furthermore, the University of Akureyri Project Fund does not support projects that constitute part of the permanent operations of the University of Akureyri.
Upon the completion of a project the recipient of a grant must report on the results of the project in some manner, e.g. in a brief report, Web page, lecture or by other means approved by the fund board of directors. If an awarded grant is used to finance part of a larger project whose results will be published in some other manner then there is no need to submit a specific report covering that section of the work supported by the project fund.
All employees and students of the University of Akureyri and its collaborating institutes are entitled to apply for a grant.
Applications can be submitted at any time. The fund board of directors convenes on a bimonthly basis (at least) to discuss and decide on the awarding of grants. As a guideline the board of directors has set the following dates for the processing of applications:
In general grant awards will not exceed ISK 100.000, but in exceptional cases this requirement can be waived. The fund board of directors will determine whether such a waiver is appropriate.