On August 17th, KLAK – Icelandic Startups, Rannís, Framvís and Kría held a joint event in the large hall in Gróska where the question was raised: Does it matter to the innovation environment in Iceland whether we join the European Union?
The aim of the event was to discuss in a simple and accessible way the opportunities and challenges that could accompany Iceland's potential membership of the European Union, especially with regard to the innovation environment and start-ups. The discussion covered a wide range of aspects, from the regulatory framework and financing environment to the international competitiveness of Icelandic start-ups.
Experts, entrepreneurs, and investors spoke, approaching the topic from their different perspectives:
- Hrönn Greipsdóttir, Managing Director of Kria
- Ágúst Ingþórsson, Director of Rannís
- Hallgrímur Oddsson, founder and CEO of Evrópustraum
- Ásthildur Otharsdóttir, co-owner at Frumtaki
- Jökull Sólberg Auðunsson, co-founder of TripToJapan.com
- Thorbjörg Helga Vigfúsdóttir, Managing Director of Kara Connect
- Hjálmar Gíslason, founder and CEO of GRID
Among the views expressed:
Regarding the currency, it was stated that foreign investors primarily look at the team and idea rather than the króna itself, although some believed that the euro was better suited to start-ups when operations grow across borders.
Regarding the grant fund, it was pointed out that membership could open access to additional funds that Iceland does not currently utilize, even though the costs were fixed and the recovery of funds varied between years.
In a discussion on the acquis, it was noted that Iceland already largely complies with the EU acquis through the EEA and that membership could in some cases simplify the environment by reducing so-called "gold plating" beyond EU requirements. It was also mentioned that membership should not have a significant impact on access to the US market or on the Icelandic economy due to potential tariffs on China.
It was discussed that Europe seemed to be increasingly closing ranks internally, which could widen the gap between the EU and the EEA in the future, and that the status of the EEA could change significantly if Norway joined the EU. It was generally believed that Iceland's negotiating position was currently strong.
It was pointed out that potential accession negotiations would require increased prioritization on Iceland's part and that adopting the euro should be a priority for the government if accession were to occur.
KLAK plans to hold another event after the results are known, regardless of the outcome, under the title "What Now?"„
KLAK would like to thank our partners, keynote speakers and guests for their participation and look forward to continued conversation about how the Icelandic innovation environment can best thrive in the future.
