Applications have been opened in Hringiða

Applications have been opened in Hringiða where start-ups and innovative projects of companies and institutions based on the concept of the circular economy are encouraged to apply.

The application deadline is up to and including April 4. Applications are accepted at Call website.

The concept of the circular economy

Hringiða focuses on a circular economy, where new technologies and methods are highlighted, promoted and supported, which really solve the environmental problems at hand. The business accelerator is based on an international model with a clear approach to application processes for European grants. 

The focus of the accelerator is structured meetings of participants with experienced entrepreneurs, investors and other experts. It is a proven process where up to ten start-ups are given access to a wide network of mentors from the business world and targeted training aimed at bringing a product to market. At the end of the accelerator, the participants will be able to present their projects to investors and submit elaborate applications for grants from European funds, such as LIFE and Horizon 2020.

Kristínar Soffíu Jónsdóttir, CEO of Icelandic Startups, says that there is a lot of growth in innovation in Iceland. ,,The total funding of Icelandic Startups last year amounted to around 140 million ISK, but at the same time the companies that participated in our projects have collected over 600 million in funding. That means that every krona returns four times. In addition, many of these companies are working on solutions to the surrounding climate problem, and IceWind, Hemp Pack and SoGreen can be mentioned as examples, so the benefits are great.“

The accelerator is managed by Icelandic Startups, which for many years has provided assistance in the development of business ideas and brought together a group of stakeholders with value creation as a guiding principle. Sponsors are Energy provider Reykjavík, The Ministry of the Environment, Energy and Climate, Reykjavík City, Garbage and Terra.

Guðlaugur Þór Þórðarson, Minister of the Environment, Energy and Climate, says at the signing of an agreement with Icelandic Startups on support for the cycle accelerator Hringiðu; "To achieve our environmental goals, we must use our main resource, ingenuity. This signing today is part of empowering entrepreneurs to do good deeds",