Þróunarvinna

Þróunarvinna is an Icelandic term that translates to "development work" or "research and development" in English. It encompasses the systematic and creative activities undertaken by organizations to increase the stock of knowledge, including knowledge of humanity, culture, and society, and the use of this stock of knowledge to devise new applications. This broad definition includes activities that range from basic research, aimed at gaining new scientific or technical knowledge for its own sake, to applied research, conducted to gain knowledge or understanding necessary for determining the means by which a recognized and specific need may be met, and experimental development, which uses existing knowledge gained from research and/or practical experience to produce new or substantially improved materials, devices, processes, or services.

In practice, þróunarvinna is a crucial component of innovation and economic growth for businesses and institutions in Iceland. It is often associated with creating new products, improving existing ones, or developing more efficient processes. The goal is to stay competitive, adapt to changing market demands, and contribute to technological and scientific advancement. This can involve significant investment in personnel, equipment, and time. The outcomes of þróunarvinna can be tangible, such as a new piece of technology, or intangible, like a new methodology or a deeper understanding of a particular field.