Snjallræð's presentation meeting took place in Reykjavík City Hall on July 1 last, where the changed arrangement of Snjallræð was presented. The change will now be made that instead of being an eight-week accelerator, Snjallräði will become a 16-week growth space (e. incubator) in addition to the collaboration with MIT DesignX, and Snjallräði will therefore be a certified DesignX growth space.
Svafa Grönfeldt presented MIT DesignX: "For some reason, 92% of new solutions coming to market are failing. Worse, nine out of ten startups fail. You wonder why the hell is that? Research shows that half fail because they brought a product to market that was not needed. We at MIT DesignX have been looking at this and based on that developed this program all over the world, it's great fun to be able to do it now in Iceland too".
Up to ten teams will be selected for the accelerator, which will start on August 22. We are looking for teams ranging from idea stage to five-year-old companies. The application deadline is up to and including August 7, but applications are accepted on Sjjallräðir's website.
The presentation was also streamed and a recording can be accessed here.