Economic and Innovation Policy 2022–2030

• We want the relations between the City and the business community to be characterized by mutual respect, trust, and a shared understanding of the challenges and problems we face.
• We intend to see ourselves as an active participant in shaping creative industries. This means that the City of Reykjavik understands the needs and expectations of the economy and adapts its services and activities, as much as possible, to these needs. The city needs to follow a policy that is clear and understandable and seeks a common ground to pursue mutual goals.
• This mutual understanding also needs to extend to self-employed persons, entrepreneurs, other municipalities, educational institutions, volunteers, and the government.

Priority

1.1 More engaging dialogue and information sharing between the City of Reykjavik and the business community

• We intend to lay a foundation of positivity and increase mutual respect and trust in communication between the city and the business and innovation communities.
• We support our employees through targeted education and training, enabling them to use active listening and to share reliable information in the performance of their duties.

• Fertile ground for creative solutions and a thriving economy require sound infrastructure, a growth mindset, and viewing new ideas positively.
• The culture of the City of Reykjavik should include an innovation mindset. On this basis, all ideas—both for profit and for social innovation—will have a clear path to implementation.
• We want our services to be easy to understand, efficient, digital, and predictable, and for the city to have a high-quality infrastructure in line with the needs of the community.

Priorities

2.1 Fostering a Culture of Innovation at the City of Reykjavik

• We are going to cultivate an innovative mindset. It involves improving understanding in the city’s system of governance of the implementation of innovation in the economy, education, and culture.

2.2 Better Services from the City of Reykjavik

• The city’s services will be transformed in line with the philosophy of inclusive design. That means we make our services simpler, more digital, accessible, and predictable for businesses, entrepreneurs, and for all those who need to use them.

2.3 Sound and Efficient Infrastructure

• Infrastructure and facilities for a wide range of business activities will be built in line with the needs of the economy and innovation community.

• In Reykjavik, companies and entrepreneurs can get support for their ideas and attract talented people and capital. We pay particular attention to intellectual exports, creative industries, and green growth projects.
• We intend to support the people of Reykjavik by ensuring access to a good education, providing training to cope with a changing economy, and enhancing the city’s international competitiveness by attracting talented people from all over the world.

Priorities

3.1 Building Clusters of Innovation and Knowledge Work

• The city will pioneer a partnership for the development of clusters of innovation and knowledge work in Reykjavik. The employment opportunities of the future will be created in these clusters through the collaboration of business, the innovation community, educational institutions, and the city.

3.2 Enhancing national and international collaboration on innovation and research

• The city will work with the business and innovation communities, in national and international innovation and research partnerships.

3.3 Ensuring human resources for good ideas

• There will be regular evaluations of what skills and knowledge Reykjavik will need in the future and how we can ensure that they exist.

• Remarkable stories happen every single day in the diverse entrepreneurial life of Reykjavik. These are inspiring stories, and we are going to shine a light on them and share them inside and outside the city.
• In this way, we will strengthen the image of Reykjavik and make the city more desirable for companies and individuals who want to make their ideas come true. A strong image will also attract capital, new businesses, and talented people to visit, work and live here.

Priorities

4.1 Domestic Marketing

• We will develop a promotional campaign to bring out positive stories from the city’s business and innovation activities to spotlight the best of Reykjavik.

4.2 International Marketing

• We will create a policy for the international marketing of the city to raise awareness of the unique characteristics of the city of Reykjavik. 

• The future calls for green growth. In the coming decade, the economy will reduce carbon emissions and increase environmental awareness and innovation that contributes to a more sustainable city. Such a shift in focus will create new green jobs and new ways of performing those jobs.
• We plan to reduce the city’s carbon footprint by half in the next 10 years. This involves challenges that need creative solutions that will be useful both at home and around the world.

Priorities

5.1 Encouraging and Supporting Green Innovation Initiatives

• Pushing for, and celebrating, green innovation projects in the city. We do so by, among other things, calling for solutions to the specific challenges we face.

5.2 Boosting the Circular Economy

• We think in green solutions and encourage the sharing of resources in the city’s economy. One person’s waste can become an usable resource to another.

5.3 Decreasing Greenhouse-Gas Emission

• Greenhouse-gas emissions will be reduced further in all areas of the city’s activities. That includes, among other things, transport, civil engineering, and energy exchange.

5.4 Expanding Opportunities Near Sustainable Transportation

• Expanding employment opportunities within the city’s districts and thereby supporting districts with all services available within a 15-minute walking distance, what we call "a 15-minute district". This is achieved, among other things, through the construction of a sustainable transport infrastructure.

• One of the biggest challenges for the near future lies in cultivating a modern society where the benefits of technological progress are distributed fairly and equitably.
• The fourth industrial revolution involves a wide range of changes that are difficult to predict, and the revolution will change many foundations of the economy. We intend to ensure that, in these changes, Reykjavik remains a safe harbor where all citizens have equal rights to the opportunities and quality of life that the future offers.

Priorities

6.1 Harnessing Everyone’s Talents

• In Reykjavik, the green transition will be based on justice, fairness, and inclusion. Residents live in safety and can positively influence their own lives, and those of others, both today and in the future. This includes, among other things, being able to find a suitable job.

6.2 Celebrating Diversity

• We integrate distinct cultures, work creatively against stereotypes, and ensure equality. In this way, we lay a good foundation for future generations to adapt to the economy of the future.

6.3 Safeguarding Human Rights in the Labor Market

• In Reykjavik, everyone can find a path for their ideas and actively participate in the economy and innovation. Regardless of origin, nationality, class, language, color, religion, political or other opinion, beliefs, gender, sexual orientation, gender identity, gender expression, sexual characteristics, age, disability, physical make-up, health status, physical activity, or other status, we aim for all people to have the same opportunities.