Nýsköpunarsjóður, or the Innovation Fund Iceland, is a government-backed fund that was established in 2010 to support the growth and development of the Icelandic innovation ecosystem. The fund invests in innovative startups and projects across a wide range of industries, including technology, healthcare, and energy.
Since its inception, Nýsköpunarsjóður has become a key player in the Icelandic startup scene, providing much-needed funding and support for early-stage companies. The fund has helped to finance numerous successful startups, including Reykjavik-based airline WOW air, which grew to become Iceland’s largest airline before filing for bankruptcy in 2019.
One of the key features of Nýsköpunarsjóður is its focus on sustainable innovation. The fund prioritizes investments in companies and projects that are working to solve pressing environmental and social challenges, such as climate change and inequality. This focus on sustainability is reflective of Iceland’s wider commitment to green energy and sustainable development.
In addition to providing funding, Nýsköpunarsjóður also offers a range of support services to help startups grow and scale. This includes access to mentorship, coaching, and networking opportunities, as well as assistance with market research and intellectual property protection.
Overall, Nýsköpunarsjóður has been instrumental in supporting the growth and success of the Icelandic startup ecosystem. Its focus on sustainability and its commitment to providing more than just funding make it a valuable partner for startups looking to make a positive impact in their respective industries. The fund’s continued success is a testament to Iceland’s commitment to innovation and sustainable development, and it will undoubtedly continue to play a vital role in shaping the future of Icelandic entrepreneurship. We are thrilled to welcome Nýsköpunarsjóður as a Gold Sponsor for Startup Iceland 2023. This dynamic partnership promises to elevate the event to new heights and propel the Icelandic startup ecosystem forward.