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Innovation Center Iceland to close by end of year, following the new innovation policy

Innovation Center Iceland to close by end of year, following the new innovation policy

Last Tuesday, the minister of innovation, Þórdís Kolbrún Reykfjörð Gylfadóttir, announced plans to close down the Innovation Center Iceland (ICI) (is. Nýsköpunarmiðstöð Íslands) by the end of this year. With this decision, the minister hopes to move the support of the public to parts of the innovation environment in more

Marorka acquired by Gaztransport & Technigaz

Marorka acquired by Gaztransport & Technigaz

French engineering multinational Gaztransport & Technigaz (GTT) has acquired all shares of Icelandic maritime tech company Marorka. The managers of Marorka – who two years ago bought Marorka out when its Danish parent company went bankrupt – have now sold the rest of their shares to GTT. They will keep working for

An uncommon story: NetApp doubles down in Iceland - interview with Jonsi Stefansson CTO & VP Cloud, NetApp

An uncommon story: NetApp doubles down in Iceland - interview with Jonsi Stefansson CTO & VP Cloud, NetApp

This post originated in the Memo, our (almost) weekly newsletter. Click here to sign up. This article has been updated with correct information about Novomatic Lottery Solutions/Betware, which didn’t close down shop completely, as the remaining office was acquired by Next Generation Lotteries. On August 4 2017, Silicon

Another year, another record: The 2019 funding & exit report

Another year, another record: The 2019 funding & exit report

Do you like Northstack? Posts and analyses like these are made possible by our helpful community of supporters. Click here to support Northstack with a small monthly donation. While 2018 was a very good year for startup funding in Iceland, with capital deployed almost reaching the record numbers of 2015,

Some lackluster numbers for Iceland: Discussing the byFounders dealflow numbers with Eric Lagier

Some lackluster numbers for Iceland: Discussing the byFounders dealflow numbers with Eric Lagier

Late in January, the Nordic&Baltic venture capital fund byFounders, sent out a community update which included some interesting statistics on their deal flow and operations. In short, they invested in ~1% of the companies the reviewed – 11 out of 1,000 companies. (Screenshot below) But to me, that

Gísli Herjólfsson

Controlant raises $7.7m (960m. ISK)

Last autumn, Controlant, a company focusing on the temperature-controlled supply chain, raised $7.7m (960 m. ISK). The investors were primarily HNWI and family offices, both local and foreign. Controlant’s mission is to ensure consumer safety and decrease waste by digitally connecting the end-to-end supply chain. The last two

PayAnalytics raises $525,000 from the New Business Venture Fund

PayAnalytics raises $525,000 from the New Business Venture Fund

The software company PayAnalytics, which is developing an equal pay cloud solution, raised $525,000 from the New Business Venture Fund. PayAnalytics’s solution is already helping over 50 companies and organizations in Iceland close the gender pay gap, employing a total of 30,000 staff, or about 14% of