The Icelandic New Business Venture Fund (also known as the New Business Venture Fund or the NBVF for short) is an independent company owned by the Icelandic government. It began operations in 1998 after a 1997 reorganization of the banking sector of Iceland. The organization is supervised by the Ministry of Industry and Commerce. Its purposes are strengthening the economy of Iceland and increasing its internationalization. Some of the organization's activities included helping to start Icelandic New Energy and providing start-up capital to companies. It was founded with a budget of ISK 5 billion. However, the organization was not a major success and made few notable accomplishments. More information...
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