Funding for research from the national budget is provided by Research Council Faroe Islands for research and research driven innovation projects connected to the Faroe Islands.

Funding is allocated once a year. The application deadline is mid February.

The Marine Research programme for the North Atlantic Ocean - MARiNAO - funds research which generates new knowledge on the marine environment in the North Atlantic Ocean.

The Research Programme for Foreign Affairs, Security and Defence Policy in the North Atlantic - FASDiNA - funds research which generates new knowledge on foreign affairs, security, and defence policy in the North Atlantic Ocean.

The Fisheries Research fund of the Faroe Islands funds scientific and industrial research and development projects in order to develop the Faroese fishing industry, harvesting, processing and trade.