The investor’s day of the business accelerator Hringiðu at KLAK – Icelandic Startups was celebrated recently, while the president of the city council, Þórdís Lóa Þórhallsdóttir gave a powerful speech to up to 90 guests; many of the country’s main investors together with other influential people from the business world, where the importance of innovation was emphasized. The start-up companies Arctic Fibers, Circula, EKKÓ, Flöff – textile processing, Í dyvúrum, Reklotek, RÓ, SeaGrowth, Visttorg attracted the undivided attention of visitors for their presentations and a clear vision of what problems related to environmental issues the companies intend to solve.

“Innovation is part of Reykjavík’s identity. As a city and a society, we face a multitude of challenges that require new solutions. We want to support good ideas that will become the companies and solutions of tomorrow. There is no question that the Hringiðu accelerator is a great addition to the innovation ecosystem in the city,” says Þórdís Lóa Þórhallsdóttir, president of the city council.

Ásta Sóllilja Guðmundsdóttir, managing director of KLAK – Icelandic Startups, spoke about the uniqueness of Hringiða when she opened the investor day. “Hringiða is about innovation that has a positive effect on the environment and society and the so-called circular economy. The companies that participated in Hringiða this year are all resisting the old linear economy in one way or another. But it is not only out of duty to the environment and nature, but also because there is a valuable opportunity to participate in and shape the revolution that is upon us, when the whole old economy is transformed and the circular economy takes over.”

Freyr Eyjólfsson, project manager of education and presentations at Sorpa, was the presenter of the event, but he has long been an active advocate of sustainability. Jenný Ruth Hrafnsdóttir from Crowberry Capital and Andri Heiðari Kristinsson from Frumtak Ventures took a seat on a panel and asked the entrepreneurs what they thought.

Hringiða’s sponsors are the City of Reykjavík, the Ministry of the Environment, Energy and Climate, Orkuveitan, Faxaflóhafnir, Terra, Ölgerðin and Samtok industriens. Hringiða’s partners are Rannís, Breið vejðurfélag, Evris, Sjávarklassinn, Grænvangur, Orkuklassinn, Hugverkastofa, F6S and Hringrásarklasinn.

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Originally published on 8 May by Klak.

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