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Tips

Freyr and Sunna at KLAK - Iclelandic Startups

There are many ways to start a business. We have been concerned about the way to raise awareness of how powerful the support environment for innovation is in Iceland. By using the start-up process, entrepreneurs can easily pick up appropriate grants and support at every stage of development.

The cooperation between Klakur and the Technology Development Fund began in earnest in 2021 and the aim of the collaboration is to increase the knowledge and accessibility of entrepreneurs to the support environment of innovation in Iceland. The start-up process is an attempt to concern an entrepreneur's path from conceptual level and is focused on streamlining the process to enhance the performance of start-ups.

The start-up process

Idea

Do you have an idea? Great – move on to the next step. Do you want an idea? Most ideas are concise solutions to common problems, so to get an idea, it's good to look at the world critically and think, what can be better.

Gulleggið

Gulleggið is an entrepreneurial competition at the conceptual level and is held at the beginning of the year. You can register in Gulleggið With or without an idea. The arrangement is such that everyone can sign up for Masterclass, a dynamic weekend focusing on participants learning to do a pitch deck or a short transparency presentation that makes the idea a good return. In the meantime, we're competing for the best presentation. Here you can introduce yourself Gulleggið.

Seed

Seed is a strength with the aim of supporting ideas and projects at an early stage thatcan lead to a larger development project. In order to apply for Seed, you need to submit a 10-clear presentation that makes the idea a good return – incidentally? Here you can find seeds.

Accelerator

Klak runs annually 3-4 business accelerators with different focuses. Did you take part in the Golden Egg and you've even received a Seed Grant? Do you have a good team and are you ready to take the next step? Then there's the business accelerator. At the heart of our accelerators are the mentor programs, but we associate entrepreneurs with experienced entrepreneurs and professionals from the business world. Take a closer look at our accelerators here.

Shoot

The start-up can amount to up to ISK 20 million over two years and is intended for young innovative companies and entrepreneurs who are working on an early-stage project. Find out more about the sprawling strength here.

Thrive

Thrive are workshops for those who have received a Start-up Grant from the Technology Development Fund. This is where the work really begins! The workshops are week-long and are held twice a year, followed by all beneficiaries being appointed a mentor who accompanies them for the next six months.  Read more about Thrive here.

Financing

There are a number of ways for start-ups to finance their projects. 

Accelerator 2.0

Accelerators for advanced companies are often a good place to pick up outside the country, and Klak is involved in promoting and finding companies into international accelerators such as TINC in Silicon Valley. You can read more about TINC here.

Growth

Growth can reach up to ISK 50 million over two years and is intended to strengthen development projects that have come from an early stage of an idea. Find out more about the growth strength here.

Funding environment
start-ups

There are a number of ways for start-ups to finance their projects. 

Bootstrap
Crowdfunding
Loan
Sponsorship
Business Accelerators
Angels
FFF
Venture Capital

Gróska, Bjargargata 1
102 Reykjavik
hello@klak.is

kt: 440500-2690

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