Seven teams selected in Call 2022

Seven teams were selected for the Circular Economy Accelerator 2022, which starts on April 25, but this will be the second time such an accelerator has been held. The teams that made it to Vorða this year are Snerpa Power, E1, Plogg-In, GreenBytes, Sidewind, ÝMIR Technologies and Álvit ehf. (Gerosion)

Participants will receive advice from Hringiðu mentors, but it is a novelty in Iceland to connect all mentors in innovation in Iceland and at Klak – Icelandic startups have been a good connection with mentors over the years. Such a connection to the business world is a tremendous lesson for all parties and delivers more knowledge of the entrepreneurial scene. Apart from that, this partnership with start-ups, entrepreneurs and the business world returns many times back with experience and knowledge in the world of innovation.

All of Vortex's mentors have experience and knowledge of innovation, entrepreneurship and or the creation of a company and they have all wanted advice on funding and grants in Europe in those years before which it was difficult to seek guidance. Mentors are synchronized in Vortex, whereupon shoots receive the best possible advice and knowledge.

The Accelerator is a collaborative platform for circuit companies in Iceland where individuals from companies and institutions can meet other people who are passionate about and work within the circular economy. Thirty applications were received this year, but it will be interesting to keep an eye on the results of such an accelerator that places great emphasis on as important an issue as the circular economy. 

Hringiða will be driven forward with an emphasis on ensuring that participants will be able to apply for the European funding of the LIFE programme based on the ideology of the circular economy. 

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. This is the first time Iceland have participated in the LIFE programme, so KLAK in close collaboration with Inspiralia from Spain who are experts in European scholarships.

The project is led by Reykjavik Energy, the Ministry of Environment, Energy and Climate Change, the City of Reykjavík, Sorpa, Terra, Faxaflóahöfn, the Icelandic Industry Association and Ölgerðin.