The conversion rate on the circular economy, Hringiða completed at The Reykjavík Edition where the main individuals from the business world, investors, sponsors, steering groups, mentors and enthusiasts listened to the business presentations of all the start-ups in Hringð.
Þórhildur Þorkelsdóttir, media personality, opened the event and subsequently followed the presentations of all the start-ups under the applause of all present. The start-ups were Snerpa Power, Sidewind, Álvit, Ýmir Technologies, GreenBytes, Plogg-In and e1. After the presentation, Ásta Sóllilja Guðmundsdóttir, Business Development Manager at Auður Tæknitorg and Örn Viðar Skúlason of the Innovation Fund asked each of the start-ups about individual items to deepen the presentation of each start-up.
"It was nice to see how the participants managed to grow and thrive in The Circle this year and it was unique to get to know all the teams. Each of them had a really good project that contributes to a sustainable society and thereby accelerates the implementation of the circular economy in Iceland," said Kolfinna Kristínardóttir, Project Manager at Hringð.
The seven start-ups selected for The Ring went through eight weeks will now be poised to apply for the Life programme's European funding based on the circular economy's philosophy. Experts from Inspiralia who specialize in helping start-ups apply for grants detailed the application process and also presented other important grants for companies in stark contrast. The work the start-ups put into The Circle consisted of meetings with mentors, lectures on funding, marketing, business planning and how to perform to name a few. Both investors and individuals from the business world showed great interest in the start-ups, but after presentations from all start-ups, it was a good time to mingle and connect.
The business accelerator builds on an international model and offers an ambitious platform and good preparation for applications for European grants. The focus of the accelerator involves organized meetings of participants with experienced entrepreneurs, investors and other experts. This is a verified process where up to ten start-up projects are granted access to a broad network of instructors from the business community 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 project is supported by Reykjavik Energy, the Ministry of Environment, Energy and Climate, the City of Reykjavík, Sorpa, Terra, Faxaflóahafnir, the Federation of Industries and Ölgerðin.