New Business Venture Fund

Spectaflow offers integrated SaaS solutions to the hotel and accommodations industry. One of the most difficult and time-consuming aspects of hospitality management, managing deskless workforces in hotel and vacation rental operations is the focus of Spectaflow. Spectaflow mitigates staffing issues, and interdepartmental miscommunications, and improves cleaning and maintenance workflows for significantly improved guest services and experiences. The company does this by strategically integrating with existing systems and utilizing AI for predictive planning.

PayAnalytics makes compensation analytics software that helps companies monitor and address diverse pay gaps, including the gender pay gap.

Evolytes is a platform designed to enhance learning results by combining games, literature, and monitoring. To enhance learning results and maintain children's interest, they carry out research and employ psychological theories. Children work in the books, scan the QR codes at the conclusion of each chapter to take the exam, and then they receive rewards. It supports the monitoring section by assisting instructors and parents in keeping track of the child's development.

Hefring Marine is an Icelandic data-driven deep-tech marine startup leveraging AI/ML and IoT for their hardware-enabled SaaS solution, the Intelligent Marine Assistance System (IMAS). The solution is an on-board AI that saves fuel consumption, significantly reduces carbon emissions and improves safety in boats and vessels through real time operating guidance for both manned and unmanned boats and vessels. Operators receive instant real time navigation guidance that only improves over time as the AI continues to learn. This helps to mitigate inexperience, enhance situational awareness and minimize the risk of ‘bad habits’. The solution can save up to 25% in fuel and CO2 and can reduce wave slamming impacts significantly, or by up to 70%, resulting in a significantly safer and more comfortable ride.

3Z Pharmaceuticals provides research services intended to provide drug development services. It offers drug screening on sleep and epilepsy assays that helps in the development of drugs used to treat neurological disorders, enabling patients to get multiple drug efficacy and toxicity assays. Karl Karlsson and Haraldur Thorsteinsson founded 3Z Pharmaceuticals in 2008. It based their company on their research on the sleeping patterns of the zebrafish at the Reykjavik University Neurolab in 2006.

Tyme Wear is a smart shirt that helps personalize your training by assessing your metabolic profile from your breathing. The insights offered by the Tyme Wear product conceptualize the physiological limits we aim to push past. We believe accurate data should be available to all athletes.

PayAnalytics makes compensation analytics software that helps companies monitor and address diverse pay gaps, including the gender pay gap.

Florealis provides herbal medicines and medical products. They also provide herbal medical products and solutions for people to stay healthy. Their med­i­cines are nat­ural prod­ucts. Their medi­cines for treat­ment of symp­toms and disease include uri­nary tract infec­tions, spas­modic gas­troin­testi­nal com­plaints, relief of tempo­rary men­tal exhaustion, and stress.

The leading well-being service that enables your employees have direct and timely access to high quality coaching, counselling and therapy services in line with their specific requirements.

Hefring Marine is an Icelandic data-driven deep-tech marine startup leveraging AI/ML and IoT for their hardware-enabled SaaS solution, the Intelligent Marine Assistance System (IMAS). The solution is an on-board AI that saves fuel consumption, significantly reduces carbon emissions and improves safety in boats and vessels through real time operating guidance for both manned and unmanned boats and vessels. Operators receive instant real time navigation guidance that only improves over time as the AI continues to learn. This helps to mitigate inexperience, enhance situational awareness and minimize the risk of ‘bad habits’. The solution can save up to 25% in fuel and CO2 and can reduce wave slamming impacts significantly, or by up to 70%, resulting in a significantly safer and more comfortable ride.

Lauf Forks makes ultra lightweight suspension forks for gravel bikes, cyclocross bikes, XC hardtails, and fatbikes.

Ankeri develops cloud based software solution focusing on ship performance from the perspective of charter parties i.e. contracts. Ankeri is a team with extensive experience from over 25 combined years of marketing, designing and developing software products for the shipping industry. Ankeri was founded on 1st December 2016.

Florealis provides herbal medicines and medical products. They also provide herbal medical products and solutions for people to stay healthy. Their med­i­cines are nat­ural prod­ucts. Their medi­cines for treat­ment of symp­toms and disease include uri­nary tract infec­tions, spas­modic gas­troin­testi­nal com­plaints, relief of tempo­rary men­tal exhaustion, and stress.

Valka has already gained a proven reputation for producing high-quality products. The company has emphasized on designing high technology hardware and software aimed at enhancing the customer’s productivity, through innovative solutions and with effective teamwork. Representing highly experienced individuals from the technical side of the seafood industry, the Valka team shares the vision and principles of solving the customers mission critical problems promptly and efficiently. Through a rapidly growing international continues to grow its customer’s base and expand its product portfolio. The Valka atmosphere is fostered with innovation and creativity with the founder, Helgi Hjálmarsson, in forefront as the CEO. Valka currently holds 5 patents with more pending. They commit long term to serve their customers, constantly strive to improve their products and continually evolve their offerings to match the needs of the clients.

Dohop is an award-winning technology provider founded in Iceland, focused on developing innovative solutions in the field of aviation and travel. Its core technology is about creating connecting journeys based on scheduled transport. Being at the forefront of digital innovation in the field of interline and intermodal technology, Dohop has developed solutions for forward-thinking airlines and alliances around the world, including easyJet, Transavia, Air France, Avianca, Jetstar, and SkyTeam.

Mint Solutions develops MedEye, a solution for medication and patient safety in hospitals and other healthcare institutions. MedEye helps nurses verify and document all medication administrations to patients. The solution uses computer vision technology to enable the nurse to work faster and more efficiently than other comparable solutions. MedEye integrates with hospital information systems to retrieve information about which medications patients should be getting. MedEye then works with the nurse to make sure that all medication dosages are safely delivered to the patient. Without requiring the nurse to type information or use a computer, MedEye then safely documents all actions and completes the medical history of the patient. MedEye addresses the problem of medication errors in hospitals and healthcare institutions. It is estimated that 1 in 5 medications are given incorrectly in hospitals, causing one medication error per patient per day.

3Z Pharmaceuticals provides research services intended to provide drug development services. It offers drug screening on sleep and epilepsy assays that helps in the development of drugs used to treat neurological disorders, enabling patients to get multiple drug efficacy and toxicity assays. Karl Karlsson and Haraldur Thorsteinsson founded 3Z Pharmaceuticals in 2008. It based their company on their research on the sleeping patterns of the zebrafish at the Reykjavik University Neurolab in 2006.

Kaptio develops a travel reservation platform to bring digital transformation to tour operators. They provide reservation technology and incorporate marketing, operations, and finance into one central system for travel operators, along with providing travel-specific consultancy services, technical architecture, delivery, and implementation. They enable travel businesses to customer relationship management processes.

Getsling is an easy-to-use, free shift scheduling and planning software that helps your business manage shifts and communicate with employees.

Sólfar Studios is founded by three industry veterans that have been working on the cutting edge of online worlds, games and virtual reality for over 20 years. Highly selective on talent and collaborators while keeping a nimble profile, we pride ourselves on an uncompromising commitment to the quality and impact of our productions.​

Kerecis develops patented fish-skin products to heal the human body. Because no disease-transfer risk exists between cold-water fish and humans, the Kerecis fish skin is only gently processed and retains its similarity to human skin, making it an ideal substitute for human skin. More than 50 studies have been done on Kerecis technology. Those studies include two double-blind, comparative, randomized control trials, where fish skin treatment was more efficacious than mammalian-based treatments. Kerecis is also developing products for areas such as oral surgery, plastic surgery, and neurological applications. The company's products utilize multiple patented fish-skin and fatty-acid technologies to protect and regenerate tissue.

3Z Pharmaceuticals provides research services intended to provide drug development services. It offers drug screening on sleep and epilepsy assays that helps in the development of drugs used to treat neurological disorders, enabling patients to get multiple drug efficacy and toxicity assays. Karl Karlsson and Haraldur Thorsteinsson founded 3Z Pharmaceuticals in 2008. It based their company on their research on the sleeping patterns of the zebrafish at the Reykjavik University Neurolab in 2006.

We are an ed-tech artificial intelligence-driven platform focusing on language learning products. How we are different from the rest is that our system can figure out which exercise should be shown to each user at a given time for the user to improve the most. We have developed a neural network that models how individuals learn. Our AI is designed to schedule well-defined learning exercises at the optimal time for users so that learners can efficiently improve their language ability. This neural network makes use of both scientific research on human memory and its effects on learning and the technology of deep learning. Our primary focus is on the B2B English TOEIC market in Japan however the technology can be applied to other language products.

Brand Regard is a software-as-a-service brand asset management solution for brands and agencies. Brand Regard gives brands and agencies online access to their branding and marketing data, allowing them to easily find, download and distribute these files with colleagues and partner companies and stop wasting time finding files scattered over various computers, FTP drives or DVDs. Brand Regard is based in the cloud and sold as a service, with clients paying a monthly fee according to how many users need access.

Gagnavarslan offers data retention by following current standards and working according to the accepted practices at any given time. Their main goal is to provide our customers with the possible service by constantly improving the service. Data Protection assures its customers that all security standards are respected and that your documents are stored in a secure environment.

ATMO Select covers all aspects of audio branding for companies and brands. Based on research & development, and years of experience, we analyze the music and sound correlation between a brand and its customer base. Customer demographics and brand information is used to develop an audio branding strategy and detailed music profile report that we deliver to our customers across the globe. Headquartered in Iceland, ATMO Select is based as well in Scandinavia, Germany, Benelux and the United States.

Mint Solutions develops MedEye, a solution for medication and patient safety in hospitals and other healthcare institutions. MedEye helps nurses verify and document all medication administrations to patients. The solution uses computer vision technology to enable the nurse to work faster and more efficiently than other comparable solutions. MedEye integrates with hospital information systems to retrieve information about which medications patients should be getting. MedEye then works with the nurse to make sure that all medication dosages are safely delivered to the patient. Without requiring the nurse to type information or use a computer, MedEye then safely documents all actions and completes the medical history of the patient. MedEye addresses the problem of medication errors in hospitals and healthcare institutions. It is estimated that 1 in 5 medications are given incorrectly in hospitals, causing one medication error per patient per day.

Kerecis develops patented fish-skin products to heal the human body. Because no disease-transfer risk exists between cold-water fish and humans, the Kerecis fish skin is only gently processed and retains its similarity to human skin, making it an ideal substitute for human skin. More than 50 studies have been done on Kerecis technology. Those studies include two double-blind, comparative, randomized control trials, where fish skin treatment was more efficacious than mammalian-based treatments. Kerecis is also developing products for areas such as oral surgery, plastic surgery, and neurological applications. The company's products utilize multiple patented fish-skin and fatty-acid technologies to protect and regenerate tissue.

AGR Dynamics offers a powerful supply chain management software, AGR, equipped with exception management, inventory optimiser, and sales manager. They specialise in consulting, implementation and maintenance of supply chain management solutions and support in logistics through the AGR software. With an effective team of 43 employees in Iceland, the UK, and Denmark, AGR Dynamics is constantly acquiring new knowledge in these fields, as well as strengthening their communication with customers to improve business operations. Through their larger team, they have expanded their service offerings to current and future customers and foster innovation. Founded in 1997, the company has provided services to many of the powerful wholesale and retail companies in the country through specialised supply chain management software, AGR. Their staff has extensive experience in consulting and offering service to over 30 customers abroad through their offices in the UK and Denmark. AGR Dynamics is a Microsoft Certified Partner with expertise in business solutions. Their staff has impressive experience in the implementation of Microsoft Dynamics NAV (formerly Navision) and LS Retail, as they have been involved in some of the largest implementations of these systems that have been done in the world.

gogoyoko.com is a music service that allows artists to sell their music directly to fans and allows everyone to listen to all music on the site for free. The service uses a combination of subscriptions and advertising sales to support payments to the artists for streaming. The site is unique in the way it splits revenue with artists and charity, with 40% of advertising and subscription revenue shared directly with artists who stream the most music on the site and 10% going to partner charities. Unlike other music stores online, the site takes a very small cut (10%) of music sales, which means that artists make more money from each sale, which makes the service attractive for local music scenes to support their musicians directly. Also, the site's focus is on the independent music sector and the largest labels on the site are large independents like Matador and XL.

Yaolan New Media Ltd. operates the dominant Chinese language online parenting web portal, community, and education platform www.yaolan.com. Founded in 1999, the company has built the most highly recognized and trusted online parenting brand by offering quality information and education services to pregnant women and parents of 0-6 year-old in China. Currently we have around 2.4 million registered members. Yaolan attracts 400,000 unique visitors daily that account for 3.2 million daily page views.

Mentis Cura is íslenkst research and development company specializing in the use of EEG for the diagnosis of central nervous system diseases such as Alzheimer's disease (AS) and Attention Deficit Hyperactivity Disorder in children (ADHD).

BioCule provides one and two-dimensional nucleic acid microelectrophoresis systems. It offers its systems for the size distribution and relative amount detection of double-stranded DNA, single-stranded DNA, RNA DNA hybrids, crosslinked DNA, and damaged DNA and DNA repair.

NORDICPHOTOS was established in 2000 in Iceland, and grew rapidly by the acquisitions of legendary, Swedish picture agencies Mira and Tiofoto. Today the direction is mainly contemporary Scandinavian photography, with unique selections of vintage photography by famous and less well known Swedish photographers, and an eclectic blend of foreign image collections. NORDICPHOTOS has offices in Reykjavik and Stockholm and is established world wide by a network of international agencies.

InfoMentor's primary ambition is for all pupils to reach their full potential. This is achieved by creating the right conditions for learning. InfoMentor is a leading provider of teaching and learning solutions - online and mobile. It brings together in one platform, the most important stakeholders - the pupils, the teacher and the parents.