The Innovation Fund Kría (NSK) recently had an investment initiative for start-ups and innovation-driven companies that are still in the early stages of their development.This early-stage investment initiative, named Frumsjóður 25, closed for applications at midnight on October 20. In total, 88 start-up companies applied for investment.
Hrönn Greipsdóttir, CEO of NSK, said:
“This is an excellent level of participation and very much in line with our expectations. We have long seen a strong demand for increased investment at the seed stage, and this initiative aims to invest in at least ten companies, with matching contributions from other investors as a requirement.”
In 2023, the fund launched this investment initiative for the first time, when 73 companies applied for funding — representing a 20% increase year-on-year. It is clear that there is strong growth within Iceland’s innovation ecosystem and a need for greater support for companies and ideas at the earliest stages, to ensure that they can grow into businesses that attract further investment.
Next, the review of applications will begin, to be handled by a special selection committee that will start work shortly. The results are expected to be announced at the end of November.
