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Hringiða 2023 open for applications on January 20th

Hringiða Open for applications today, 20 January, where start-ups and innovative projects of companies and institutions based on the ideology of the circular economy are encouraged to apply, but the deadline for applications is February 19. 


Hringiða Focuses on a circular economy, highlighting, promoting and supporting new technologies and methods that genuinely solve emerging environmental challenges. The business accelerator is based on an international model with a clear approach to the application process for European grants.

Sidewind is one of the start-up companies that participated in Hringiða 2022, and the entrepreneurs and founders, María Kristín Þrastardóttir and Óskar Svavarsson, received a European grant for an energy exchange project led by Verkís. The project is intended to significantly reduce greenhouse gas emissions from the world's cargo fleet.

"We highly recommend participating in Vortex. Please accept any assistance you are offered."" the duo is quoted.

"Being involved in Vortex was incredibly instructive and rewarding. This is where we meet other entrepreneurs where we are. We finally got the help we needed and a good insight into what it takes for innovative companies to succeed.

The management was exemplary and the staff was excellent. It makes all the difference to have access to Gróska as everything is in one place for early-stage entrepreneurs. It was also invaluable to meet all the "mentors" in the various areas who guided us with the things we needed help with."

At the end of the accelerator, participants will be able to apply for European funding, including the LIFE programme based on the ideology of the circular economy. LIFE is one of the EU's co-operation programmes that has funded climate and environmental projects since 1992.

The business accelerator is based on an international model and offers an ambitious platform and good preparation for applications for European grants. The focal point of the accelerator consists of organised meetings of participants with experienced entrepreneurs, investors and other experts. This is a proven process where start-up projects are given access to a broad network of mentors from the world of work and targeted training.

Management of the accelerator is in the hands KLAK who has for many years provided assistance in the development of business ideas and brought together a group of stakeholders with value creation as a guiding principle. The sponsors are the City of Reykjavík, the Ministry of Environment, Energy and Climate, Reykjavik Energy, Faxaflóahafnir, Terra, Ölgerðin and the Federation of Icelandic Industries. The partners of Hringiða are Rannís, Breið development company, Evris, Sjávarklasinn and Grænvangur.

Information is provided by Kolfinna Kristínardóttir, project manager KLAK, carbon @klak.is.