PRIVACY POLICY CLAIM KLAK

PRIVACY POLICY KLAK INNOVIT ehf. (hereinafter "KLAK")

General

KLAK is concerned about privacy and strives to protect your personal information. This privacy statement explains how we handle the personal information we hold about you and what rights you have regarding the information. KLAK therefore processes your personal information in accordance with Act No. 90/2018, on the Protection of Personal Information and the Processing of Personal Information.[2]

Responsible party

KLAK INNOVIT ehf. ID. 440500-2690, Bjargargata 1, 102 Reykjavík is the controller for the processing of personal data that takes place in connection with realizing the ideas of entrepreneurs, expanding and supporting the community of entrepreneurs in Iceland with the aim of increasing the number of start-ups.

What information do we collect?

Personal data is any information about an individual that allows them to be identified, directly or indirectly. In particular, we collect the following personal data about you:

Contact information, such as name, ID number, address, email address and telephone number.
Information about participants' ideas, such as when the idea was submitted and who is behind the idea.
Information about the applicant themselves, their job title or occupation, and if the person is a business owner, information about the company's operations, including the type of business and other related matters, is collected. All such information is collected with your consent.
Communication history, i.e. when applicants contact us, whether it is a general inquiry, an application for participation or something else, we store that communication history.
Marketing materials related to projects, i.e. when applicants contact us, whether it is a general inquiry, an application for participation or other, we store information about names and email addresses, along with a photo of the applicant.
Surveillance cameras, there are several surveillance cameras located at KLAK's headquarters.
Technical data, such as IP addresses and other data related to your use of the company's website.

How do we collect information?

We collect contact information from you through application processes, forms, telephone, or email, or in other ways, for example through software solutions Acterio AS and Younoodle. We collect information from you and record information about the services we provide to you. We also manage payment information and issued invoices that are necessary for the contractual relationship and to meet the requirements of tax and accounting laws.

When you use the KLAK website, we collect certain information through the use of cookies and similar technologies. See more here .

Purpose of our processing of personal information

We only process your personal data to the extent permitted by law. The main cases are as follows:

In order to provide customers with the services offered by KLAK, KLAK collects personal information such as the name, ID number, email address and idea of the applicant. The processing of this data depends on the business accelerator applied for, but it is also necessary for KLAK to fulfill its terms and provide the service on the right terms.
To be able to fulfill obligations under accounting laws, according to requests from public authorities and institutions, and other legal provisions.
In order to be able, where appropriate, to provide business accelerator applicants with the most useful guidance and/or find a team or idea that best suits the individual, a process of matching mentors, participants, and team histories is reviewed.
To be able to send applicants information about upcoming business events, provided that applicants agree to this.
To be able to send customers information that is tailored to them, such as statistical information for quality and marketing purposes, provided that customers consent to this.
To answer participants' questions and respond to their inquiries.
To be able to analyze and make plans within the company, for market research, to improve services and compile statistical information in quality and marketing work.
Footage from surveillance cameras is processed for security and asset protection purposes.

Disclosure to third parties

In order to fulfill the purposes described above, it may be necessary to share personally identifiable information about a customer with a third party, processor, service provider, agent or contractor of KLAK for the purpose of completing a task for the applicant or providing the applicant with services that he has requested or agreed to. Such sharing is only in the cases listed in this policy.

KLAK also shares information with processors when necessary to protect vital interests and also with Statistics Iceland for information purposes. KLAK also shares information for statistical purposes with processors who work with companies in quality and marketing work.

KLAK only provides processors with the personal information that is necessary for the processor for the aforementioned purposes, and the company then enters into an agreement in which they undertake to keep customer information secure and use it only for the aforementioned purposes.

Personal information security

KLAK applies appropriate security measures to prevent applicants' personal information from being lost, changed, published or accessed without permission.

How long is personal information stored?

KLAK stores personal information for as long as necessary for the purpose for which it was collected. The retention period for such personal information depends on the nature of the information and the legal regulations that apply to the relevant processing of personal information, such as tax and accounting legislation.

Data that passes through an AI tool is not stored for long periods of time, but flows through the system and is deleted immediately after use.

Collection and use for marketing purposes

If applicants agree, KLAK may use their personal information to inform them of ongoing business accelerators and send them other marketing materials that KLAK believes they may be interested in. In addition, KLAK may send applicants marketing materials that we believe our applicants may be interested in. In addition, we may contact the applicant and inform them of an idea or business accelerator that we believe they would be a good addition to. We may also use the information to process statistical information in quality and marketing work. The aforementioned communications may take place via email, telephone, letter or SMS. However, KLAK will strive to keep these communications moderate.

Customer consent will be obtained electronically. Customers will also be able to provide their consent by sending us an email at [email protected]

Using artificial intelligence tools

KLAK uses various artificial intelligence tools to improve services, analyze data, and support business accelerators. When using these tools, special attention is paid to the following:

Artificial intelligence tools can process personal information such as names, email addresses, descriptions of skills, projects, applications, and other information related to participants, contacts, and stakeholders.
Data is processed to support counseling, mentor matching, project analysis, and service improvement.
Processing is based on consent, contract or legitimate interests, as applicable.
Access controls, encryption and traceability are ensured. Data is not stored longer than necessary and is deleted according to procedures.
If sensitive personal information is processed, it is done with special care and in accordance with laws and regulations.

Your right

In certain cases, you have rights under data protection legislation in relation to KLAK's processing of personal data. If you wish to exercise these rights, please contact us and we will endeavour to respond to your request as soon as possible (in most cases within one month of receipt) unless there are multiple and extensive requests.

Right of access: You have the right to request access to the personal information held about you and to receive a copy of the information. This way, you can ensure that the information is accurate and that our processing of it is in accordance with the law.
Right to rectification: If any information about you is incorrect or inaccurate, you generally have the right to have us correct it.
Right to erasure: In certain circumstances, you may have the right to have us erase personal information we hold about you. This applies in particular where the information is no longer necessary, where you have objected to the processing of the information (see below), where the processing is unlawful, or where the processing was based on consent which you have subsequently withdrawn.
Right to object to processing: If our processing is based on legitimate interests, and you believe that, due to your particular circumstances, the processing infringes your fundamental rights, you may object to the processing. If you object, we will stop the processing unless we can demonstrate overriding legitimate interests in continuing it.
Right to restriction of processing: In the following cases, you have the right to obtain from us the restriction of processing of your personal data, i.e. if you dispute the accuracy of the personal data (until we can verify that it is accurate); the processing is unlawful, if you do not want the personal data to be erased; we no longer need the personal data for the processing but you need them for the establishment, exercise or defence of legal claims; and you have objected to the processing, cf. above. In that case, we will restrict the processing until we have demonstrated our overriding legitimate interests in continuing it.
Right to withdraw consent: Where we base processing on your consent, you may always withdraw such consent. However, withdrawal does not mean that processing that took place before consent was withdrawn is unlawful.

KLAK reserves the right to refuse delivery in the case of requests that are manifestly unfounded, excessive or repetitive.

Contact person

If you have any questions, comments, or complaints regarding this Privacy Statement or KLAK's handling of personal information, you can contact us by phone at 861-3134 or by sending us an email at [email protected]

If you feel that you cannot resolve your issues with [email protected] You are always entitled to file a complaint with the Data Protection Authority (website: www.personuvernd.is)

Changes

This privacy statement was approved on November 25, 2025.

Our Privacy Policy is under constant review and this Privacy Policy may change. We will post any such changes on our website.

Similarly, it is important to us that your information is always as accurate as possible. Therefore, we kindly ask you to let us know if your contact information (eg your phone number or email address) or other information changes.

[1] This model includes an obligation to provide information to applicants. Note that in the case of employees, they must also be informed about the processing of their personal data, for example in connection with payroll processing, attendance registration or electronic monitoring.

[2] This statement applies to KLAK applicants, those who interact with KLAK, employees, job applicants, and those who visit KLAK's website or social media.