Klak is a non-profit company owned by the University of Iceland, Reykjavik University, Origo, The New Business Venture Fund and the Federation of Icelandic Industries. The role of Klak is to expand and support the community of entrepreneurs in Iceland with the aim of increasing the number of start-up companies. 

Klak assists entrepreneurs from the first steps and has maintained Gulleggið, the country's largest entrepreneurial competition since 2008. Gulleggið is an idea-level competition and an ideal platform for entrepreneurs starting their journey. 

Klak Runs annual 3-4 business accelerators with different focus and are designed for teams that are well on their way in product development.

Klak is in active collaboration with the Technology Development Fund and receives Sprota's beneficiaries twice a year for a week-long workshop and Klak connects the beneficiaries with relevant mentors who follow them for 6 months.

Emphasis is placed on assisting in preparing start-ups for international growth and funding. A large part of this involves strengthening cooperation with leading start-up communities abroad in a meaningful way and raising awareness of outstanding Icelandic start-ups for foreign investors and the media.

Klak is in active international collaboration and business accelerators are part of the GAN – Global Accelerator Network. Klak is also part of Nordic Scalers and Nordic Made, and our international representative is a deputy on the Board of Nordic Innovation.

Klak was founded in 2000 and merged with Innovit in 2013. The merged 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 Golden Egg entrepreneurship competition.