How Did We Get Here?

In 1961, the City of Reykjavík gifted the University of Iceland the land on which Vísindagarðar were built, with the condition that it would be used to build a science park. At that time, such developments were appearing around the world. Today, most developed countries boast science and technology parks, but back then, Vatnsmýri was only a swamp. Development finally got under way in 1999 when deCODE Genetics began constructing its headquarters, which opened in 2003. In 2004, a company was founded to manage future operations in the area. The company is primarily owned by the University of Iceland (94.5%), but the City of Reykjavík has a 5.5% stake in it. 

The board of Vísindagarðar is responsible for finding suitable leaseholders. The plots are leased for 50 years with the possibility of extension. When choosing occupants, we consider what they can contribute to the community in the area, alignment with our mission statement, international foothold, financial capacity and the importance of innovation and R&D within the company. 

Vísindagarðar has over 500 student apartments, a number of start-up companies and a few larger IT and biotech companies. Creative disciplines are also represented at Vísindagarðar, for example with the Center for Design and Architecture, the advertising agency Brandenburg and game developer CCP. In the future, we are looking to bring in companies in the energy and sustainability sectors. Sustainability also plays an important role in the design of the area, for example in terms of transportation, choice of building materials and sustainable drainage solutions.