Reykjavík continues support for Startup Social
Through an agreement with the University of Iceland, Reykjavík has secured ongoing support for the Startup Social accelerator, which focuses on social innovation with participation from a strong network of partners. Along with the University of Iceland, Reykjavík University, the University of Akureyri and MIT DesignX operate the project. The mayor and the president of the University of Iceland signed the agreement this week.
The project fits well with the City's focus on innovation, social responsibility and diversity, including a high percentage of women and international participants. Applications for the accelerator are open on the Startup Social website – snjallraedi.is/en/.
Social innovation matters
Mayor Heiða Björg Hilmisdóttir says she is pleased that there is an agreement to continue the project with the same quality standards as before. "We provide funding, staff support, and facilities, and in return get a powerful platform that has already delivered results," the mayor says. Projects that have gone through the accelerator include Bergið Headspace, Green Bytes, Ploggin and the open preschool Memm. "These examples show that social innovation matters," Heiða Björg says.
The universities, MIT DesignX, Reykjavík City, UI Science Park and Marel are behind Startup Social. In the photo, from left: Þórey Einarsdóttir, Gísli Karl Gíslason, Ásta Olga Magnúsdóttir, Svava Björk Ólafsdóttir, Ásgeir Jónsson, Silja Bára Ómarsdóttir, Heiða Björg Hilmisdóttir, Oddur Sturluson, Áslaug Ásgeirsdóttir, Kjartan Sigurðsson, Ólafur Eysteinn Sigurjónsson, Svafa Grönfeldt, Hannes Ottósson, and Hulda Hallgrímsdóttir. Photograph: Kristinn.
Increased domestic participation
The City has supported Startup Social from its inception, with its contribution set at ISK 3 million per year for 2025 and 2026. The City previously provided up to ISK 10 million in support, but the reduction is due to the Massachusetts Institute of Technology (MIT) now teaching Icelandic universities to apply the MIT DesignX methodology. This reduces the cost of MIT's involvement, while increasing the universities' work contribution as they adopt the proven methodology that helps entrepreneurs develop new solutions to complex social challenges.
"Startup Social is a platform where entrepreneurs, companies, universities and city officials join forces. With continued support, we ensure that new ideas can thrive and the connections between research and social innovation are strengthened," says Hulda Hallgrímsdóttir, team leader at the Office of the Mayor and Chief Executive Officer.
Application period
The application deadline for participating in Startup Social this year is Aug. 17, 2025. More information and applications are available at https://www.snjallraedi.is/en/