Seven teams were selected for the circular economy business accelerator Hringiðu 2022, which will start on April 25, but this will be the second time such an accelerator is held. The teams that advanced in Hringiða this year are Agility Power, E1, Login, GreenBytes, Sidewind, MISCELLANEOUS Technologies and Álvit ehf. (erosion).
Participants will receive advice from Hringiða's mentors, but it is a novelty in Iceland to connect all mentors in innovation in Iceland, and at Klak - Icelandic startups there has been a good connection with mentors over the years. Such a connection with the business world is an extremely good lesson for all parties and brings more knowledge about the entrepreneurial scene. Apart from that, this cooperation with start-ups, entrepreneurs and the business world returns many times over with experience and knowledge in the world of innovation.
All of Hringiða's mentors have experience and knowledge of innovation, entrepreneurship and/or the establishment of a company, and they all wanted advice on funding and grants in Europe in those years before, when it was difficult to seek guidance. Mentors are coordinated in Hringiða, and in doing so, students receive the best possible advice and knowledge.
Hraðallinn is a collaboration platform for circular companies in Iceland, where individuals from companies and organizations 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 observe the results of such an accelerator, which places great emphasis on an issue as important as the circular economy.
Hringiða will be continued with the emphasis that the participants will be able to apply for the European grants of the LIFE program, which is based on the concept of the circular economy.
The accelerator is managed by KLAK, 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. This is the first time that Iceland participates in the LIFE program, and therefore KLAK will be closely cooperating with Inspiralia from Spain, who are experts in European grants.
The project is supported by Orkuveita Reykjavíkur, the Ministry of the Environment, Energy and Climate, the City of Reykjavík, Sorpa, Terra, Faxaflóahafnir, the Confederation of Industry and Ölgerðin.