Eyrir Vöxtur has signed a contract with MIT DesignX, a sought-after venture accelerator at MIT University. Following the contract, companies in which Eyrir Vöxtur, Eyrir Venture Management’s growth fund, invests will have the opportunity to be a part of the accelerator.
MIT DesignX has assisted a number of companies looking for rapid scaling in international markets. The accelerator supports comprehensive business development and design of innovative companies, as well as provides access to investor connections and funds from the accelerator’s partners. In addition to MIT, founders of the accelerator include companies such as Google and Autodesk. Reykjavík University will participate in the collaboration of Eyrir Vöxtur and MIT DesignX by supplying facilities and access to specialists within the Reykjavík University.
Eyrir Vöxtur is a new 6-7 billion kr. ($ 49-57 million) investment fund managed by Eyrir Venture Management. The fund specializes in investments in innovative companies that have matured from the start-up stage and are or are aiming to build distribution channels in foreign markets and are seeking foreign investment relations.
“With this collaboration with MIT DesignX, we at Eyrir Vöxtur want to build bridges for innovative companies in Iceland that intend to enter the international market and need to be prepared to scale up fast. With access to advice, experience and the network that the MIT DesignX business accelerator offers, the possibilities for innovative companies to meet the requirements that must be met by entrepreneurs who are planning to go all the way with their companies increase,” comments Stefanía Guðrún Halldórsdóttir, Managing Director of Eyrir Vöxtur, in a press release.