Innovation, Startups and Venture Capital in Iceland

Introducing an action plan on public innovation

An action plan on public innovation was introduced last week. The plan is based on the innovation policy for Iceland as well as the government’s policy on increasing the use of innovative solutions in the public sector.

“We create many opportunities by increasing the weight of innovation in the public sector. We need to give entrepreneurs a chance to present their solutions and develop them further, in collaboration with public institutions. This is an important step for the driving innovation in Iceland,” said Þórdís Kolbrún Reykfjörð Gylfadóttir, minister of innovation, in a statement.

Due to challenges like the changing age structure of the Icelandic nation, global warming, and higher expectations for public service, the public sector is required to have the knowledge and opportunities to practice and invest in innovation.

The goal of the action plan is to increase the utilization of innovation in public institutions to meet current challenges and prepare for the future, with better and more efficient service, in line with consumers’ needs. 

“This action plan follows our plans on creating a new approach for public service for consumers and businesses, where the aim is to offer better, more accessible, and efficient services. We need to adopt innovation into all fields of the public sector, and I am hopeful this plan will give us the right tools for that,” states Bjarni Benediktsson, minister of finance and economic affairs.

The action plan consists of twelve actions, which aim to elucidate the opportunities innovation brings, increase cooperation, both inside the public sector as well as with the private sector, and increase the usage of public data.

Read more about the action plan (in Icelandic) here.

Sign up for The Northstack Memo, our newsletter covering the Icelandic startup, innovation and venture capital environment.

%d bloggers like this: