Vísindagarðar HÍ // UI Science Park

What Vísindagarðar HÍ // UI Science Park does

Vísindagarðar Háskóla Íslands (UI Science Park) is a non-profit science park and innovation ecosystem located in Vatnsmýrin, Reykjavík, Iceland. Founded based on the Stanford Research Park model and legally incorporated in 2004 (with the underlying Vatnsmýrin land reserved mid-20th century), it is owned 94.6% by the University of Iceland and 5.4% by Reykjavíkurborg (Reykjavík City), with a stated non-dividend policy requiring reinvestment of all earnings. The organization operates a portfolio of physical and program-based assets: Gróska (the innovation house at Kristínargata 1), Mýrin (the startup and innovation community hub on Gróska's first floor, hosting 40+ companies and 150+ entrepreneurs at end-2025), Fruman (the biotechnology centre at Klettagarðar 6), and the Djúptæknisetur (Deep Tech Centre at Kristínargata 3, currently under construction with planned opening mid-2029). Cross-cutting programs include the Glóð AI initiative (delivering Iceland's first NVIDIA DGX Spark supercomputer and EuroHPC LUMI access), the Open IRIS/Calira research-infrastructure management system, doctoral grants, and international collaborations with IASP, MIT DesignX, DTU Science Park, and Sophia Antipolis.

Revenue is generated almost entirely from real estate activities — specifically, rental of the Sturlugata 8 building (housing Íslensk erfðagreining / deCODE), building-rights fees at Sæmundargata 15-19 and 21 (where Alvotech operates a facility employing ~1,000 people from 70 nationalities), and at Bjargargata 1 (Gróska/Heima). 2025 revenue was 1,080 million ISK (up 2.98% YoY), with profit of 546 million ISK and total assets of 16,083 million ISK at a 43.7% equity ratio. The customer mix is bifurcated: a small number of large institutional anchor tenants (Alvotech, Íslensk erfðagreining, Gróska) provide the bulk of recurring revenue, while a long tail of early-stage startups occupies Mýrin under community/incubation terms. The science park serves startups and early-stage entrepreneurs, universities and research institutions, established life-sciences and technology companies, and students — with a stated focus on life sciences, technology, and creative industries. A small core team of 7 people operates the organization, augmented by an ecosystem of partner organizations (KLAK, Auðna, GEORG, Miðstöð hönnunar, Íslenski ferðaklasinn) and a board drawn from the University of Iceland, Reykjavík City, Alvotech, Ankeri ehf, and the Icelandic Tax Administration.

Strategically, Vísindagarðar is positioning itself as Iceland's national deep-tech and AI infrastructure platform rather than a passive landlord. The mid-2029 opening of the Deep Tech Centre, the Glóð AI / NVIDIA DGX deployment, the 2025 Fruman biotech launch, and a three-hire team expansion together signal a multi-year capability build-out that is not yet reflected in current revenue growth.

Name

Vísindagarðar HÍ // UI Science Park

Legal name

Vísindagarðar Háskóla Íslands

Website

https://visindagardar.is

Company type

Private

Founded year

1960

Operating status

Operating

Headcount range

1–10 employees

Short description

Vísindagarðar HÍ is a non-profit Icelandic science park in Reykjavík, owned by the University of Iceland (94.6%) and Reykjavík City (5.4%), operating real estate and innovation programs (Gróska, Mýrin, Fruman, Deep Tech Centre) that host startups, anchor tenants like Alvotech and Íslensk erfðagreining, and AI infrastructure initiatives.

Ownership category

akta.pro rank

Product category

Science Park and Innovation Hub Services

NAICS

Facilities Support Services (5612), Management, Scientific, and Technical Consulting Services (5416)

SIC

Services-Facilities Support Management Services (8744), Services-Management Consulting Services (8742)

akta.pro primary industry

Research Administration & Grants Management Support (Pre/Post-Award, Compliance) (EDAEALAO)

akta.pro secondary industries

Institutional Capacity Building & Training (Workforce/Systems Strengthening) (BPADAEAC), Technical Cooperation, Capacity Building & Policy Advisory Programs (BPADABAO)

Keywords

• Science park operations
• Startup incubation services
• Research infrastructure leasing
• Innovation ecosystem management
• Biotech lab facilities

Headquarters

HQ city

Reykjavík

HQ country

Iceland

HQ region

Europe

Offices6 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Infrastructure, Operations, Technology or R&D, Marketing or Sales

Revenue model

1. Commercial Real Estate Rental: Primary revenue stream from renting office and laboratory spaces to tenant companies. Includes rental of the building at Sturlugata 8 housing Íslensk erfðagreining ehf., and building rights at Sæmundargata 15-19 where Alvotech operates its high-tech facility.
2. Building Rights Revenue: Revenue from building rights agreements, including Sæmundargata 15-19 (Alvotech) and Bjargargata 1 (Gróska). Income is largely index-linked for inflation adjustment.

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels9 records

Core offering

Vísindagarðar HÍ operates Iceland's flagship science park in Vatnsmýrin, Reykjavík, providing commercial office and laboratory space for rent, running the Mýrin startup innovation hub inside Gróska, operating the Fruman biotechnology center, and (under development) the Deep Tech Centre shared research facility. Revenue is generated primarily through index-linked rental of office, lab, and workshop spaces to tenant companies (including Alvotech and Íslensk erfðagreining) along with advisory, mentoring, and access-to-infrastructure services for early-stage startups in life sciences, technology, and creative industries.

Product overview

Vísindagarðar HÍ (UI Science Park) is an innovation and science park ecosystem operated by the University of Iceland, combining physical infrastructure with innovation support programs. The core offering is not a single software product but a multi-facility science park portfolio comprising: Mýrin (the startup hub in Gróska), the under-development Djúptæknisetur (Deep Tech Centre), the Gróska innovation house, the Fruman biotechnology centre, and the broader Vatnsmýrin physical campus. Cross-cutting programs include Glóð (AI infrastructure access via LUMI), research infrastructure management via Calira, doctoral grants, and international collaborations. The organization does not sell commercial software products; its 'products' are physical and service-based offerings (workspace, programs, infrastructure access) for the innovation community.

Differentiator

Problem solved

Functional benefit

Brands

• Mýrin: Innovation center for startups and entrepreneurs, located in Gróska, providing workspace, advice and support for early-stage ventures
• Djúptæknisetur (Deep Tech Centre)
• Fruman (The Origin)

Products and services

• Mýrin Innovation Hub Startup hub located on the first floor of Gróska offering high-quality co-working workspace, advisory services, networking events, and accelerator support for early-stage entrepreneurs; housed over 40 companies and 150+ registered members by end of 2025.
• Gróska Innovation House Innovation house at Kristínargata 1 serving as the main co-working, event, and meeting space for the science park community, hosting startups, creative enterprises, and partner organizations including Miðstöð hönnunar og arkitektúrs.
• Fruman Biotechnology Centre Biotechnology innovation centre at Klettagarðar 6 providing shared laboratory and research space for scientists, students, biotech startups, and entrepreneurs; also houses the University of Iceland's Industrial Biotechnology program.
• Glóð AI Infrastructure Project AI support initiative delivering compute power, software, and expert advisory services for developing and testing AI solutions, including access to the Finnish LUMI supercomputer via EuroHPC and the first NVIDIA DGX Spark supercomputer in Iceland delivered by Advania.
• Vatnsmýrin Science Park Campus Physical science park campus in Vatnsmýrin, Reykjavík, encompassing multiple facilities and plots including Sturlugata 8 (Íslensk erfðagreining headquarters), Sæmundargata 15-19 (Alvotech high-tech facility), and undeveloped plots available for further development.

Quantifiable outcome

• Over 40 companies and 150+ entrepreneurs supported in Mýrin innovation center
• +2 more outcomes

Named customers6 records

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

18 partnerships are on record, tiered core, flagship and minor.

• AlvotechcoreStrategic or Co-development Partner · 1 March 2025Strategic partnership with Alvotech, a leading global biotech company in biosimilar development, for the Deep Tech Centre project. Alvotech, University of Iceland, and Vísindagarðar signed a letter of intent for collaboration on shared research infrastructure. Alvotech employs approximately 1,000 people from 70 nationalities at the Vísindagarðar location.
• Háskóli Íslands (University of Iceland)coreStrategic or Co-development PartnerPrimary stakeholder owning 94.6% of Vísindagarðar. The organization serves as an extension of the university's mission to commercialize research and connect academia with industry. Partnership includes shared research infrastructure, student support programs, and doctoral grants.
• Reykjavíkurborg (Reykjavik City)coreStrategic or Co-development PartnerStakeholder owning 5.4% of Vísindagarðar. Partnership supports urban development and innovation ecosystem building in Reykjavik. City representation on board of directors.
• MIT DesignX and ENNEMMflagshipStrategic or Co-development PartnerStrategic collaboration on strategy development and innovation methodology. Led by Dr. Svafa Grönfeldt. Includes international study visit to MIT in Boston to learn about science park best practices and deep tech innovation.
• NVIDIAcoreTechnology or IntegrationTechnology partnership through the Stefnumót við gervigreind (AI Strategy Meeting) event. NVIDIA collaborates with Vísindagarðar and Advania to provide AI workshops and demonstrations. First NVIDIA DGX Spark supercomputer in Iceland delivered by Advania.
• AdvaniacoreTechnology or IntegrationTechnology partner delivering AI infrastructure including the first NVIDIA DGX Spark supercomputer in Iceland. Active collaboration on AI events and programs for the innovation community.
• AlmannarómurcoreStrategic or Co-development PartnerPartner organization managing the Glóð AI initiative, providing AI and language technology support to startups and entrepreneurs in Mýrin. Almannarómur coordinates the LUMI supercomputer access project (EuroHPC) for Icelandic users.
• Háskólinn í Reykjavík (Reykjavik University)minorStrategic or Co-development PartnerPartner in the LUMI supercomputer access project and AI initiatives, contributing academic resources and student engagement.
• EuroHPC Joint UndertakingcoreTechnology or IntegrationEuropean HPC infrastructure program providing access to LUMI supercomputer for Icelandic researchers and startups. Access granted for 3 years for AI, weather, and language technology research.
• KLAK Icelandic StartupscoreImplementation/ SI/ Consulting PartnerStartup support organization providing advisory services and accelerator programs to Mýrin tenants. One of the support network organizations helping startups develop and connect with the innovation ecosystem.
• Auðna (TTO)coreImplementation/ SI/ Consulting PartnerTechnology transfer office providing specialized advisory services and technology commercialization support to Mýrin tenants. Part of the support network for the innovation center.
• GEORG (Geothermal Research Cluster)minorImplementation/ SI/ Consulting PartnerGeothermal research cluster providing expertise and networking for energy-related innovation projects in the science park ecosystem.
• Miðstöð hönnunar og arkitektúrs (Icelandic Design Centre)minorImplementation/ SI/ Consulting PartnerDesign and architecture center providing expertise and hosting events in Gróska. Supports creative industry startups in Mýrin.
• Íslenski ferðaklasinn (Icelandic Tourism Cluster)minorImplementation/ SI/ Consulting PartnerTourism innovation cluster supporting startups in the travel and hospitality sector within the Mýrin ecosystem.
• IASP (International Association of Science Parks)flagshipStrategic or Co-development PartnerInternational network of science parks. Vísindagarðar has been a full member since 2011. Participates in annual world conference and uses network for best practice sharing and international visibility.
• DTU Science ParkminorStrategic or Co-development PartnerInternational science park partnership for knowledge sharing and collaboration on best practices in science park operations.
• Sophia AntipolisminorStrategic or Co-development PartnerInternational science park partnership for knowledge sharing and collaboration on best practices.
• Gróska ehf / Heima ehfcoreChannel Partner/ Reseller/ DistributorGróska is the innovation hub operator at Kristínargata 1. Ownership transferred from Gróska ehf to Heima ehf real estate company in 2025. Vísindagarðar waived pre-emption and lease rights to facilitate the ownership change.

Scale indicators8 records

Recent moves8 records

Expansion highlights6 records

Regional players

• Kista Science City: Stockholm-based innovation cluster specializing in ICT, telecom, and deep tech tenants with university and corporate partners. Comparable as a Nordic deep-tech cluster, though operating in Sweden rather than Iceland.
• Espoo Innovation Garden: Finnish innovation ecosystem around Aalto University and VTT, providing research infrastructure, startup support, and shared labs. Comparable in offering Nordic deep-tech and biotech infrastructure access, though operating in Finland rather than Iceland.

Direct peers

• DTU Science Park: Danish science park affiliated with the Technical University of Denmark, hosting startups, deep tech ventures, and research infrastructure. Named in the data as an explicit international partner and one of the most directly comparable university-anchored science parks in the Nordics.
• Cambridge Science Park: UK's longest-established science park affiliated with the University of Cambridge, focused on deep tech, life sciences, and technology tenants. Direct comparable for a university-anchored park serving life sciences and tech startups.
• Stanford Research Park: The original university-affiliated research park model on which Vísindagarðar is explicitly based, anchoring tenants around Stanford University. Operates as a comparable model of university-owned land, innovation tenants, and shared research infrastructure.
• Ideon Science Park: Swedish science park in Lund affiliated with Lund University, hosting deep tech, life sciences, and IT companies with shared research infrastructure. Closest Nordic peer in scope and university-driven model.
• MaRS Discovery District: Toronto-based innovation district providing workspace, advisory services, and programs for startups in life sciences, technology, and cleantech. Comparable in combining physical co-working, programming, and university/city support.
• Sophia Antipolis: Large French science and technology park hosting universities, research labs, and corporate tenants on shared infrastructure. Named partner of Vísindagarðar; serves as a comparable European science park operator with multi-tenant, multi-use real estate.
• Oslo Science Park (Forskningsparken): Norwegian science park near the University of Oslo hosting startups, research groups, and innovation programs. Comparable as a Nordic university-anchored innovation hub with similar Mýrin-style community programming.

Emerging players

• BioInnovation Institute (BII): Danish life-sciences innovation hub providing lab infrastructure, funding, and programs for biotech startups. Comparable to Vísindagarðar's Fruman biotech center in focusing on early-stage life-science ventures and shared research infrastructure.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/visindagardar

Revenue estimate

Valuation estimate

Number of profiles

Profiles11 records

Subsidiaries2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Vísindagarðar HÍ // UI Science Park