KLAK VMS signs a partnership agreement with ADVEL lawyers

KLAK VMS has signed a collaboration agreement with one of Iceland's leading law firms, ADVEL Lógmenn. The aim of this agreement is to further strengthen KLAK VMS's mentoring services so that it can better support and maximize the success of the startups that benefit from it. The signing was attended by Ragnar Guðmundsson from ADVEL and Magnús Ingi Óskarsson, director of KLAK VMS.

KLAK VMS is one of the most important elements in the support system of the startup community in Iceland and supports 80-100 startup teams every year with teaching and mentoring support. The progress of the teams under the guidance of the mentors results in a greatly increased probability that the wands will succeed, to the benefit of Icelandic society.

"KLAK VMS is one of the biggest improvements in support for the startup community. We see it in all the feedback from the shoots how important this service is. Getting a team of experienced experts, many of whom have previously carried out something similar to what the startup is trying to do now, is absolutely invaluable and is often crucial in the startup's development", says Magnús Ingi Óskarsson, director of KLAK VMS at KLAK - Icelandic Startups.

"We look forward to supporting KLAK VMS. I myself am a mentor in VMS and feel how important this support is. We at ADVEL have long placed great emphasis on supporting innovation and start-up companies and have a good cooperation with KLAK in that regard. We believe and actually see in black and white in our work that few things drive the economy forward and increase the quality of life in this country like strong innovation," says Ragnar Guðmundsson, attorney and owner at ADVEL.

There are now 180 mentors working at KLAK VMS. These are experienced entrepreneurs, various experts and managers from the Icelandic economy who have all received training from MIT-VMS, which is a mentoring system to support entrepreneurs that has been developed within the MIT university community in Boston. The goal is to further build the KLAK VMS community and offer more training, education and networking opportunities for the mentor group to add value to them participating in the KLAK VMS community and donating their work for the benefit of entrepreneurs. In order to achieve this success, KLAK VMS recruits sponsors and makes sponsorship agreements like this one with them.

As part of the partnership, ADVEL lawyers will also offer free consultation hours for start-ups, who can get advice on the legal issues they are dealing with.

"We are very excited about the cooperation with ADVEL lawyers. ADVEL has been a loyal supporter of KLAK for many years and now comes in specifically with support for VMS. It is a great privilege for our attorneys to have access to their expertise on the legal issues that attorneys are dealing with. So this is a great recognition that we are doing good things that are worth supporting", says Magnús Ingi in conclusion.