arion bank

Arion bank discontinues support for Startup Reykjavik

The main supporter of Startup Reykjavik, and investor in all the Startup Reykjavik companies, Arion Bank, is discontinuing support for the accelerator. Vísir reports, based on sources from inside the bank, which comments to Vísir that the issue is under consideration within the bank.

The program, which is owned by the bank, and operated by Icelandic Startups since it started in 2012, has been a mainstay in the Icelandic ecosystem. This decision follows a round of layoffs in the bank, following bad financial results in recent quarters.

Salóme Guðmundsdóttir, CEO of Icelandic Startups, confirms these news: “Startup Reykjavik in its current form will not continue, but the brand and possibility of using it is still there. We’ve known of this possibility for some time, and are thankful for our partnership with the bank.”

“As for Icelandic Startups, we have several very exciting and promising plans in the works that we can’t announce just yet.”

Keystrike secures pre-seed funding from Philippe Langlois, cybersecurity entrepreneur

The Icelandic cybersecurity startup Keystrike has secured funding from Philippe Langlois, founder of cybersecurity company Qualys (QLYS) which is currently valued at over $4 billion. Keystrike’s technology was invented by Ymir Vigfusson, Associate Professor at Emory University, to rethink multi-factor authentication. “Keystrike seals off the path that is commonly

Smári McCarthy, CEO of Ecosophy and Steph Matti, COO of Ecosophy

Ecosophy's 'OverView' wins in EU Space Agency competition

Ecosophy’s prototype for its platform OverView is among the winners of the EU Space Agency’s (EUSPA) innovation competition. Ecosophy is an Icelandic startup focusing on making environmental data actionable, in part by making access to data from EUSPA’s Copernicus system accessible. The company received a prize of

Kerecis becomes Iceland's first Unicorn after being acquired by Coloplast for up to $1.3 billion

Kerecis has signed an agreement with Coloplast, the Danish medical device manufacturer, to be acquired for up to $1.3 billion, making them Iceland’s first Unicorn company. In today’s Kerecis business meeting, which took place in Ísafjörður where they have a manufacturing facility, Fertram Sigurjónsson, founder and CEO

Read next