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Entrepreneurship in Reykjavik

Map of Reykjavik

Entrepreneurship in Reykjavik

Entrepreneurship in Reykjavik

Reykjavik has cultivated a distinctive startup ecosystem that leverages Iceland's unique position between North America and Europe with renewable energy advantages and creative Nordic culture. The world's northernmost capital has developed particular strengths in clean energy, gaming, and tourism technology, supported by Iceland's complete renewable energy infrastructure and creative heritage. For founders, Reykjavik offers unique advantages: easy access to both European and North American markets, specialized talent in geothermal and hydroelectric technologies, and a society that readily adopts technological innovation. The ecosystem features organizations including Startup Iceland and Iceland Innovation Center, while government initiatives like Business Iceland support international connections. Though small in absolute terms, Reykjavik's combination of energy expertise, Nordic design thinking, and intimate community where founders can access decision-makers creates a distinctive environment particularly suited for building startups in specialized fields leveraging Iceland's natural resources or strategic Atlantic position.

Reykjavik has cultivated a distinctive startup ecosystem that leverages Iceland's unique position between North America and Europe with renewable energy advantages and creative Nordic culture. The world's northernmost capital has developed particular strengths in clean energy, gaming, and tourism technology, supported by Iceland's complete renewable energy infrastructure and creative heritage. For founders, Reykjavik offers unique advantages: easy access to both European and North American markets, specialized talent in geothermal and hydroelectric technologies, and a society that readily adopts technological innovation. The ecosystem features organizations including Startup Iceland and Iceland Innovation Center, while government initiatives like Business Iceland support international connections. Though small in absolute terms, Reykjavik's combination of energy expertise, Nordic design thinking, and intimate community where founders can access decision-makers creates a distinctive environment particularly suited for building startups in specialized fields leveraging Iceland's natural resources or strategic Atlantic position.

Reykjavik founders in numbers

The startup community in Reykjavik shows a healthy mix of people still exploring ideas (57%) and those already building something (43%). This balance between early-stage thinking and committed founders shapes the local scene. Looking at the numbers, the median age of founders in Reykjavik is 28.5, with an average age of 33.2. Most are in the 25-32 age range, which makes up 38.8% of the community. When it comes to background, 56% of founders in Reykjavik have technical skills in areas like engineering or software development, while 44% come from business roles such as operations, product, or marketing. This mix creates plenty of opportunity for strong co-founder matches. Popular areas of interest include Food, Energy, Fintech, and Tourism. Many founders in Reykjavik also speak more than one language, adding fresh perspectives to the city’s startup ecosystem Impacts are {13},{14},{15},{16}.

Commitment Type

More than (57%) of Foundersbase founders in Reykjavik, are exploring startup ideas, while (43%) are committed to an idea.

Has idea 57%

Age

The median age of Foundersbase founders in Reykjavik is 28.5, while the average is age 33.2 with a maximum in the group of founders aging 25-32.

Type of Founder

About (56%) of Foundersbase founders in Reykjavik are technical (Engineering, AI/ML), while (44%) are non-technical (Product, Marketing, Operations).

Technical 56%

Top industry interests

Discover the industries that Foundersbase founders in Reykjavik are most passionate about.

Food
Energy
Fintech
Tourism
Logistics
Aerospace
Virtual Reality
Mental Health

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