Who we are
When about two years ago Iceland was hit by the financial crisis we, a group of international Icelanders immediately thought: every crisis is an opportunity to learn and improve. So we began with research on Iceland with just one question - what will help? After many talks the project "business plan competition" slowly emerged. It is a feasible action, for sure not a remedy for everything but allows the private sector to show responsibility and initiatives with actions. This process has been done with considerable support by ICEVENTURE.
For transparency and for underlining the long-term commitment NyIsköpin was found, a non partisan/non political foundation.
Despite the importance of political reforms and a sound analysis of the roots of the crisis it is just as important to understand the impact of it on the capital stock and growth model of a country. As every crisis can be an opportunity to improve, a Schupetrian moment is present in Iceland where many well educated persons, many with an engineering background, lost their jobs in an oversized financial sector.
The answer to the crisis in Iceland lies in inspiring people to courageous, new ideas and offering a structured process for development. Our focus is on creating new, home-grown companies – future-looking, sustainable companies built on sound, scalable ideas that create new jobs and new perspectives.
Business Plan Competition
Business plan competitions as an instrument for creating innovative companies were born during the eighties at the famous MIT(Massachusetts Institute of Technology). The key to their great success in regional economic development was to foster close cooperation between universities, entrepreneurs and financiers to form a "local innovation system". We believe strongly that such a competition will make a significant contribution to Iceland's comeback.
The instrument of business plan competitions is used worldwide and showing success.