MIT REAP Team Iceland’s focus is on the country as a whole. The team is represented by stakeholders from all five stakeholder groups. The team is championed by  Reykjavik University with key stakeholders from the Ministry of Industries and Innovation, and NSA Ventures.

Team Members

University
Government
Corporate
Risk Capital
Entrepreneur

Innovation Ecosystem Stakeholder Model

Ari Jonsson
Champion
President, Reykjavik University
Hjalmar Gislason
Vice President, Qlik
Ragnhildur Helgadottir
Dean of School of Law; Chair of Science Committee, Reykjavik University
Ragnheiður Magnúsdóttir
Business Manager - Inside Sales; Chair of Technology Committee, Marel
Sveinn Thorgrimsson
Chief Civil Engineer, Ministry of Industries and Innovation
Helga Valfells
CEO, NSA Ventures
Salome Gudmundsdottir
CEO, Icelandic Startups

Team Strategy

  • Challenge & Opportunity
  • Strategy & Action
  • Region of focus:
    • The Republic of Iceland
  • Comparative advantage:
    • Fishing and energy industries traditionally the most strong
    • Emerging tech, service and tourism industries
    • Flexible and creative culture
    • Strong foundation
      • Good infrastructure and connections
      • Democratic egalitarian welfare state
      • Ability to join forces, when needed
    • Core Challenges:
      • Too much focus on natural resource utilization
      • Skepticism towards innovation and a lack of entrepreneurial heroes in high-tech companies
      • Micro-economy and micro-currency
      • Small home market
      • Immature investment environment
      • Risk of losing talent abroad
      • The “fisherman” gene
      • Natural resource industry dominates policy
      • Political: Missing long-term vision in essential areas
    • Stakeholder Insight:
      • Champion (University):
        • Ari Jonsson – President, Reykajvik University
      • Representation from all stakeholders

Will be updated once the team graduates from the program.

  • REAP Strategy:
    • Change environment and mindset
    • Enable opportunities to become successes
  • Key I&E Activities:
    • Funding development
      • Grants from government
      • Tax rebates
      • Investment funds
    • “Pay it forward” by successful entrepreneurs
    • Partnership: Universities, industry, investors
    • Successful activities:
  • Executive Summary

Core Regional Metrics

Economic & Social Progress

Social progress and economic prosperity as a collective measure of development in a region.

Innovation-Driven Entrepreneurial Ecosystem

Innovation-Driven Entrepreneurial Ecosystems are regional environments that effectively support startups focused on addressing global markets based on technological, process or business model innovation.

Entrepreneurial Capacity

Ability to start and build new to the world businesses from inception to maturity.

EXPAND ALL

People

Funding

Coming soon!

Infrastructure

Coming soon!

Policy

Culture & Community

Coming soon!

Demand

Performance

Coming soon!

Innovation Capacity

Ability to develop new to the world innovations from inception through to the market.

EXPAND ALL

People

Coming soon!

Funding

Infrastructure

Coming soon!

Policy

Culture & Community

Coming soon!

Demand

Performance

Team News

June 1, 2016

RU in cooperation with MIT to promote economic growth through innovation

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