StartupReykjavik’s inaugural class graduates

Iceland isn’t known for being an entrepreneurial hotbed, but things, it seems, are really heating up. The island country of just 320,000 people now has its own accelerator, called StartupReykjavik, which launched in April of this year.

All of the startups chosen for the program were given $16,000 (2.000,000 ISK) in seed funding from Arion Bank. StartupReykjavik doesn’t say whether they take any equity in exchange, only that they want to be viewed as a “co-founder”, with the same rights but no controlling interest in the startups themselves.

After ten weeks of intensive mentorship, the eleven startups in StartupReykjavik's inaugural class pitched to investors, potential partners and their fellow entrepreneurs at their Demo Day last week.

The teams that presented were:
> When Gone - Helps people who are dying record their thoughts, memories and stories for the friends and family they leave behind
> StartupVille - A social game where investors make virtual investments in real startups for virtual equity
> MyMxLog - An online software service for airlines, operators and technicians; enables the management of licenses, certificates, training and experience in accordance with European regulations
> CloudEngineering - Helps business professionals gather online data and convert it into a structured dataset which can be integrated with business intelligence software for further analysis
> Designing Reality - Creates highly accurate and realistic 3D models from photographs
> Live Shuttle - Allows smartphone users to share photos and videos live; can be used while travelling, at music festivals, during natural disasters, protests and more
> RemindMe - An automatic medical dispenser
> GuitarParty.com - A one-stop-shop for lyrics, chords and music lessons
> Heilsufar - A portal where people can request their medical records, and add their own information
> Stream Tags - Users can tag movies, add information and make purchases

The accelerator hopes to open the program up to domestic and international startups next year.

For more on StartupReykjavik, go to: http://www.startupreykjavik.com/en