Ecosystems/Reykjavik, Iceland

Reykjavik, Iceland

Reykjavik punches far above its weight — a city of 140,000 producing a disproportionate number of globally ambitious startups. Strong government co-investment, a tight-knit community, and a culture of building for export from day one define the Icelandic approach.

160+

Active Startups

$200M+

Equity Funding

Government-backed

Ecosystem

Top Programs

Startup Reykjavik

accelerator

Mentorship-driven 10-week seed-stage accelerator running every summer. Connected to the Global Accelerator Network.

Seed investmentVisit

Startup Energy Reykjavik

accelerator

10-week summer accelerator focused on energy and cleantech startups, with $40K seed investment.

$40K for equity

KLAK – Icelandic Startups

accelerator

Sector-agnostic accelerator empowering entrepreneurs with mentorship, competitions (Gulleggið), and startup journey mapping.

Varies by programVisit

Startup SuperNova

accelerator

10-week program by KLAK and Nova targeting early-stage teams with a grant of ~$7,100 for a 5% stake option.

ISK 1M grant, 5% option

Iceland Innovation Center

incubator

Government-funded support for innovation and entrepreneurship including advisory, grants, and connections.

No equityVisit

Key Investors & Funds

Crowberry Capital

Seed

Early-stage Nordic VC in Reykjavik backing software and deep tech.

Website

Brunnur Ventures

Seed to Series A

Iceland-focused early-stage VC investing in B2B software, fintech, and healthtech.

Website

Frumtak Ventures

Seed to Series A

Leading Icelandic VC backing export-driven tech companies.

Website

NSA Ventures

Pre-seed to Seed

Government-backed New Business Venture Fund providing earliest-stage capital.

Eyrir Venture Management

Series A+

Supports industrial and global software companies from Iceland.

Website

Coworking & Community

Reykjavik University Innovation Lab

University-affiliated workspace for startups and student ventures.

Website

Icelandic Startups Hub

Community workspace tied to KLAK programs and events.

Website

Useful Links

Startup Iceland

Community resource for founders in Iceland

KLAK Events

Accelerator programs and startup competitions

Invest in Iceland

Government resource for foreign investment and startup setup

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