The Nobel Prize in Economics 2025 was awarded yesterday, the 13th of October, for research demonstrating that innovation and technological development are the foundation of sustainable economic growth and improved living standards. SI - The Federation of Icelandic Industries announced this in an article on its website.
According to the statement from the Royal Swedish Academy of Sciences, the laureates’ research is based on an analysis of how advances in technology and innovation lead to increased productivity and improved living conditions. The findings clearly show that countries that encourage innovation achieve better results in improving their citizens’ quality of life than others.
By creating an environment that promotes research and development—and thus innovation—new technologies and products emerge, new opportunities arise in the labor market, and value creation increases.
The goal of the Innovation Fund is to strengthen Iceland’s innovation ecosystem through investments that foster growth and enhance competitiveness. By supporting entrepreneurs, scientists, and new startups, the fund ensures that good ideas have the opportunity to grow and transform into value that benefits society as a whole.
“This year’s Nobel Prize reminds us that innovation is not only a driving force of economic growth but also the foundation of a better and more sustainable society. That’s why continued investment in knowledge and creativity is more important than ever,” says Hrönn Greipsdóttir, CEO of the Innovation Fund Kría.
