Innovation, Startups and Venture Capital in Iceland

Here are the ten teams participating in Startup Reykjavik 2016

Salóme Guðmundsdóttir from Icelandic Startups and Einar Gunnar Guðmundsson from Arion Bank just announced which ten companies will take part in the 2016 batch of Startup Reykjavik. The announcement was made from the main stage at Startup Iceland.

The following ten companies are participating this summer:

  • Platome – Develops stem cell culture supplements to accelerate stem cell based medicine
  • Convex – Colorful and family-friendly adventure game
  • Strivo – Enables coaches/personal trainers to sell their services in a new and engaging format.
  • Icelandic Lava Show – A spectacular live show of real lava, red-hot and flowing, and its dramatic encounter with ice
  • Hringborð – A sharing platform for study material between students.
  • Isold Film – A robust financial instrument in an exotic and cost efficient environment
  • Drexler – A music driven MMORPG (Massively Multiplayer Online Role-Playing Game)
  • Flow – Provides accessible meditation and well-being tools for modern life through advanced technology.
  • TotalHost – Enables hosts on AirBnB to earn sales commission on tours.
  • Moon Chocolate – Makes high quality bean to bar chocolate.

The companies will receive $2.4m ISK (~$18K) in funding in exchange for a 6% share, access to mentors, and a shared office, during the ten week accelerator program. The program ends with an investor day in August, where the teams can pitch to investors.

Previous participants that have gone on to raise funds from investors include Activity Stream, Kaptio, and Florealis.

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