Values of KLAK
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KLAK helps entrepreneurs realize their ideas, increases the number of start-up companies based on ingenuity and thus increases sustainable value creation in Iceland. We help startups grow domestically and internationally by accelerating their development and connecting them with experts, investors and other key players. Klak has established itself as a key player in the supportive environment for innovation in Iceland and strives to be a leading force in the grassroots of the entrepreneurial community.
Role
KLAK is a non-profit organization owned by the University of Iceland, the University of Reykjavík, Origo, the Business Innovation Fund and The Icelandic Federation of Industries. KLAK's mission is to expand and support the community of entrepreneurs in Iceland with the aim of increasing the number of start-ups.
KLAK helps entrepreneurs from the earliest stages and has held Gulleggið, the largest entrepreneurial competition in Iceland since 2008. Gulleggið is a competition at the idea stage and an ideal platform for entrepreneurs who are starting their journey.
KLAK annually runs 3-4 business accelerators with different focuses. The accelerators are designed for teams that are well off to a good start in product development.
KLAK is in active cooperation with the Technology Development Fund and twice a year receives Sprota and Vaxtar grantees in a week-long workshop, in addition to which KLAK connects grantees with appropriate mentors who follow them for 6 months.
International operations
Emphasis is placed on helping start-ups prepare for international growth and financing. KLAK does this by strengthening cooperation with leading start-up communities abroad in a targeted way and drawing attention to excellent Icelandic start-ups to foreign investors and media.
KLAK is engaged in active international cooperation and its business accelerators are part of the Global Accelerator Network (GAN). KLAK is also involved in Nordic Scalers and Nordic Made, and our international representative sits on the board of Nordic Innovation.
The story
KLAK was founded in 2000 and merged with Innovit in 2013. The combined company was named KLAK Innovit, later Icelandic Startups and now again KLAK – Icelandic Startups. Over the company's long history, hundreds of entrepreneurs have gone through accelerators or participated in the start-up idea competition Gulleggið.
KLAK founded by Origo to support innovation in Iceland.
Seed Forum started in 2005. CCP and Orf Biotechnology are among the first companies to present their ideas.
100+ start-up companies graduate from the Business Workshop's entrepreneurship course in 2009-2013.
The International Entrepreneurship Week was established in Iceland to encourage innovation and entrepreneurship.
Nordic Cleantech Open begins.
A year later it is Gulleggið held for the first time. Since then, over 3000 ideas have been submitted to the competition.
Innovit founded by three engineering students at the University of Iceland, SI and NSA.
The University of Iceland and the University of Reykjavík become shareholders in Innovit.
Startup Weekend held for the first time in Iceland. A total of 12 such events were held from 2010 to 2015 with more than 500 participants.
The top 25 Cleantech teams from the Nordic countries present their ideas to investors and mentors.
Kristján Freyr Kristjánsson appointed managing director of Innovit. The founder and outgoing CEO has an MBA from Stanford University.
Startup Energy Reykjavík has its own walk, a business accelerator that focuses on energy-related business ideas.
Klak and Innovit merge and are called Klak Innovit for the time being.
Cooperation among leading start-up organizations in the Nordic countries, under the banner #NordicMade, set up.
Nordic Innovation Marine Marketing Program (NIMMP) has its march. Eighteen Nordic university students work on problems related to traceability in the fishing industry.
The first business accelerator in Iceland, Startup Reykjavík, is held for the first time.
Salóme Guðmundsdóttir is appointed managing director of Klak Innovit.
Start Nordic established with the aim of building bridges for Nordic start-ups to leading technology and start-up regions in Europe and the USA.
Startup Tourism, a business accelerator in the field of tourism, has its run.
Nordic Scalers established. Intended to support advanced (scale up) companies for growth in international markets.
The business accelerator Firestarter – Reykjavík Music Accelerator has started and intended to promote innovation within the music industry.
Student innovation and entrepreneurship committees established within UI and HR in collaboration with the student associations of both schools.
Icelandic Startups, the new name of Klak Innovit, introduced to history. Intended to underline the company's emphasis on international cooperation and support for the international expansion of start-up companies.
Icelandic Startups takes over administration TINC (Tech Incubator) in Palo Alto in Silicon Valley on behalf of Iceland.
The business accelerator To the sea and the countryside established. The accelerator focuses on sustainable solutions in the fishing industry and agriculture.
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