The Innovation Fund Kría (NSK) has launched an investment initiative aimed at investing in startup companies at an early stage of their development. The company’s business idea must show potential for growth and export, and the company must be Icelandic and operating in Iceland. It is also an advantage if the company’s core team is diverse, with backgrounds, experience, and expertise that support the company’s progress. Companies based outside the capital area are especially encouraged to apply for investment.
Applications for the investment initiative are open until October 20, and the goal of the initiative is to accelerate the formation phase of innovation companies and strengthen their governance, attract additional investors, increase angel investments, and promote the creative and knowledge industries as the fourth pillar of Iceland’s economy across the country.
The plan is to invest in 10–12 companies, with each investment ranging from 20 to 30 million ISK. A matching co-investment from other investors, for at least the same amount as NSK’s investment, is a strict requirement.
