The Design Fund allocates grants to diverse projects in design and architecture in Iceland: development and research, marketing and travel.

 The fund’s role is enhancing knowledge production, stimulating job and wealth creation in design and architecture through financial assistance, and also to increase export of Icelandic design by funding PR and marketing campaigns abroad. 

The Design Fund adheres to the Ministry of Industries and Innovation, and its annual balance is determined by parliament and is included in the national budget. This year’s contribution is 50 million ISK, and is managed by Iceland Design and Architecture.