In the newspaper Morgunblaðið on Saturday, February 7, there was an interview with Þór Sigfússon, Chairman of the Board of the Iceland Ocean Cluster. The Iceland Ocean Cluster, a center for knowledge and innovation, has regularly compiled a list of exciting startup companies in the blue economy. The purpose is to highlight the diversity of innovation that has emerged in Iceland related to the fishing industry or other ocean-related activities.
This year, the Iceland Ocean Cluster is focusing on 20 companies located around the country under the heading “The National Team of Startups in the Blue Economy.” Considerable growth has taken place in recent years within Iceland’s blue economy, involving a diverse range of companies working to create value from the ocean.
In a presentation of the startup “national team,” the companies are divided according to three main focus areas: “Firstly, Icelandic high-tech, which is based in part on artificial intelligence. Secondly, companies targeting international health markets with consumer products. In addition to these two main pillars, there is also a group of startups introducing a wide variety of innovations across different areas of the blue economy,” says Þór in the interview.
The list includes companies in the portfolio of the Kría Innovation Fund and companies selected for investment in the fund’s recent initiative, Frumsjóður25.
A software company developed to help transport companies collect, analyze, and utilize data about their fleets, operations, and sustainability. The company’s goal is to support better decision-making, increased operational efficiency, and reduced environmental impact. Ankeri has been in the fund’s portfolio since 2018.
A technology company that develops solutions to provide ship fleets with real-time data analytics. The goal of the analysis is to improve safety, increase operational efficiency, and reduce fuel consumption. The company received the Icelandic Innovation Award in 2025 and has been in the fund’s portfolio since 2019.
A biotechnology startup that develops products aimed at reducing food waste and plastic use by utilizing by-products from other biotech companies. Its first product line, ICEBOREA, is a packaging coating for vegetables made from algae residue generated after astaxanthin production. Marea has been in the fund’s portfolio since 2023.
A technology company developing innovative fishing gear technology that minimizes contact with the seabed and reduces unwanted catch. The company’s goal is to promote sustainable fishing and better resource utilization. Optitog is one of ten companies that entered Frumsjóður 2023 at the Kría Innovation Fund.
An Icelandic biotechnology company working on the development of cultivated seafood using cell culture, where fish is grown directly from cells without conventional aquaculture. The company’s goal is to offer sustainable protein production that meets growing demand for seafood. One of eleven companies that entered Frumsjóður 2025 at the Kría Innovation Fund.
The company develops a digital traceability platform for the seafood industry. The solution provides real-time visibility across the value chain and promotes increased transparency, improved quality management, and trust in international trade. One of eleven companies that entered Frumsjóður 2025 at the Kría Innovation Fund.
It’s especially enjoyable to see these companies on the list of the national team of startup companies in the blue economy.
