The purpose of the memorial fund is to encourage promising mathematics students and give them the opportunity for further studies in mathematics. Students who have completed the requirements of the first two years of study in mathematics at the University of Iceland have the opportunity to apply for grants to the fund at the beginning of the autumn semester of each school year. The fund generally awards one to two grants each year, according to the fund's purpose. Hjalti Þór touched many people during his short career, but he was studying for a doctorate in mathematics at the ETH in Zurich, Switzerland when he died. Hjalti planned to graduate in June 2024, but unfortunately his mind was filled with misconceptions that had no basis in the real life, but caused his death. Hjalti had many relatives, friends and acquaintances, but he was very well liked and everyone who knew him misses him dearly and want Hjalti Þór's memory to live on for upcoming years.

Bank account for the Memorial fund is: 

IBAN: IS780133150074894406240650 SWIFT: NBIIISRE