Ignite Nordic Expands to Iceland

Iceland becomes the third country where Ignite Nordic operates, following Sweden and Norway.

The launch follows Ignite Nordic’s establishment in Norway in January and represents another milestone in the organization’s development from a Swedish initiative into a Nordic platform for commercial collaboration between startups and established organizations.

“When we became Ignite Nordic earlier this year, our ambition was to create more business opportunities for startups across the Nordics. Our expansion allows us to open doors to many more potential customers and new markets – first in Norway and now in Iceland. At the same time, startups in each of our markets gain corresponding opportunities across the region. That is exactly what we want to build: a Nordic structure where startups do not have to start from scratch in every new country, but can use Ignite as a pathway to relevant customers across borders,” says Sara Hamlin, CEO of Ignite Nordic.

A Nordic Model, Shaped Locally

Ignite Nordic’s model is built on a strong local presence in each country with shared ways of working, processes and access to a Nordic network. The aim is to combine strong local ecosystems with opportunities for collaboration across borders.

For startups, this means not only gaining new pathways to potential customers at home, but also opportunities to engage with organizations across the Nordics.

“There is enormous untapped potential in connecting the Nordic innovation ecosystems more closely. When we share relationships, knowledge and opportunities across borders, we are not only helping startups access a larger market, we are strengthening the Nordic region’s ability to innovate together. I believe that is where we can create real impact,” says Maria Olofsson, VP Ecosystem at Ignite Nordic.

In Iceland, Drift EA will lead the establishment and local operations, adapting Ignite Nordic’s methodology and processes to the Icelandic context while connecting the country to the broader Nordic platform. Sigmar Sigurðarson will lead Ignite Nordic’s work in Iceland.

“With Ignite Nordic in Iceland, we want to create a focused platform where companies and entrepreneurs can find each other and build partnerships that lead to growth and innovation,” says Sesselja Barðdal Reynisdóttir, Managing Director of Drift EA.

Rooted in the Icelandic Innovation Ecosystem

As in Sweden and Norway, Ignite Nordic in Iceland is being developed in close collaboration with local innovation actors.

The initiative is backed by a diverse group of Founding Partners representing different parts of the Icelandic innovation ecosystem: Drift EA, the Association of Municipalities in Northeast Iceland (SSNE), West Iceland Regional Office (SSV), the University Association of South Iceland (HFSU), KLAK – Icelandic Startups, Iceland Ocean Cluster, IceBAN – Icelandic Business Angels, and Fjársýslan – Financial Management Authority.

“Iceland has a wealth of ingenuity and strong entrepreneurs across the country. However, one of the biggest challenges is often creating connections between those developing new solutions and those who can put them to use. Ignite Nordic is a step toward shortening that path, strengthening collaboration, and creating new opportunities for value creation,” says Logi Einarsson, Iceland’s Minister of Culture, Innovation and Higher Education.

The establishment of Ignite Nordic in Iceland is funded by the Ministry of Culture, Innovation and Higher Education, Drift EA, West Iceland Regional Office (SSV), the Association of Municipalities in Northeast Iceland (SSNE), and the University Association of South Iceland (HFSU).

Ignite Nordic is now open to startups and established organizations from across Iceland and all sectors. Starting this September, Icelandic startups will be able to meet potential customers, while established organizations in Iceland will have opportunities to engage with Icelandic, Swedish and Norwegian startups and explore commercial collaborations.

About Ignite Nordic

Ignite Nordic is a non-profit organization that creates business opportunities for startups through collaboration with large companies and public sector organizations.
Since 2017, Ignite Nordic has developed a structured and quality-assured process for matching startup solutions with concrete innovation needs. To date, Ignite Nordic has connected more than 2,000 startups with over 460 established organizations, resulting in more than 780 commercial collaborations.
Ignite Nordic operates in Sweden, Norway and Iceland and is continuing its expansion across the Nordic region.

For More Information

Sara Hamlin
CEO, Ignite Nordic
sara@ignitenordic.org

Sesselja Barðdal Reynisdóttir
Managing Director, Drift EA
sesselja@driftea.is