The Icelandic Ocean Cluster and Landsbankinn have launched a partnership aimed at supporting increased value creation within the blue economy. The focus will be on supporting innovative companies developing solutions to challenges faced by more established businesses, as well as fostering entrepreneurs who create value from what was previously discarded.
Landsbankinn will provide special support for a new initiative by the Ocean Cluster, called the "Ocean Cluster Verbúð." This project is designed to strengthen connections and collaboration between established companies in the blue economy and entrepreneurial ventures, as well as research and development teams from the academic community. The goal is to address challenges, improve resource utilisation, and boost innovation.
Landsbankinn will contribute to the project as a sponsor, with the Bank’s Fisheries Team providing advisory services to entrepreneurs.
The initiative is intended as long-term support for dynamic entrepreneurs and begins with established companies within the Ocean Cluster network presenting specific challenges they face. The Ocean Cluster will then announce a call for individuals or teams who have developed solutions to these challenges. The solutions will be evaluated in collaboration with the companies, and the most promising teams will advance to a two-day hackathon held in the spring, organised in partnership with universities and the Ministry of Innovation and Industry.
Winners of the hackathon will proceed to the Ocean Cluster Verbúð, where they will receive long-term support, and their solutions will be developed in collaboration with the companies, mentors, and Ocean Cluster staff.
The aim is to create a platform where entrepreneurial solutions are systematically validated and tested in real-world scenarios. Additionally, this initiative ensures that solutions being developed by innovators are aligned with the needs of the sector. The project will also foster valuable connections and a dialogue intended to drive increased value creation in a broader sense.
The photo shows Heiða Kristín Helgadóttir, CEO of the Icelandic Ocean Cluster, and Haukur Ómarsson, Head of Landsbankinn’s Fisheries Team.
