Grønlandsbanken's business foundation was established in 1986 with initial capital donated by the bank. The fund aims to support initiatives that contribute to the development of the Greenlandic business sector. The initial capital amounted to 28 million DKK in 2024.

Foundation's resources
The foundation's capital consists of a base capital and a discretionary capital. It is solely the discretionary capital that can be used for distributions. The foundation's capital is invested in shares of Grønlandsbanken, and it is the returns and dividends from these shares that the fund's board can use for distributions in accordance with the foundation's strategy for grants and dissemination.

The board
The board consists of 5 to 7 members, all of whom must be of legal age and reside in Greenland. The members elected by the general assembly of Grønlandsbanken, who reside in Greenland, are automatically members of the foundation's board. The other members are appointed by the board of Grønlandsbanken from individuals with insight into Greenlandic society and business. Appointments are valid for one year at a time and terminate on December 31. Reappointment is possible.

Application
The foundation's board reviews applications at quarterly meetings. The dates are set continuously and can be provided by contacting the foundation's secretary at erhvervsfonden@banken.gl.

Purpose
Grønlandsbanken's business foundation aims to support community-beneficial initiatives in Greenland – with a particular focus on promoting the business sector. 

The foundation prioritizes larger projects and is happy to provide support in the following areas:

• Research and education 
• Labor market 
• Corporate social responsibility and anti-corruption 
• Export 
• Communication and information technology 
• Climate and environment 
• Oil and mineral industry 
• Tourism 
• Land-based industries 
• New business opportunities in the Arctic

Who can apply
The business foundation supports initiatives that create value for Greenland and the Greenlandic community. Anyone with a clearly defined business-related project can apply – including individuals, entrepreneurs, researchers, companies, and associations.

Application
A written application must be submitted to the business foundation, including the following information:

Contact details: First and last name, company name, CVR number, address, Email, phone number.
A strong application should include a description of the project/purpose:

• Introduction of the applicant(s)
• Purpose of the requested funding
• Project description or Business strategy/plan
• Desired funding amount
• Overall financing plan
• Budget for the project/start-up/operations (potentially over several years)
• Potential partners
• Other funding applications/grants received
• If yes, specify from whom and the amount granted
• Previous support from the Business Foundation
• If yes, specify the year and the amount received

Supporting documentation (if applicable) may include:

• Business plan
• Overall financing plan
• Budgets, including assumptions and expected results
• Recommendations for the project

There are no formal requirements for the application format.

Submit your application via email to: erhvervsfonden@banken.gl

Or by post to:
Grønlandsbanken’s Business Foundation
P.O. Box 1033
3900 Nuuk