KLAK
KLAK – Icelandic Startups is a Reykjavík-based non-profit founded in 2000 that runs multiple accelerators (Hringiða, Startup SuperNova, Startup Tourism, KLAK health, Snjallræði, Dafna), a MIT-modeled mentoring service (KLAK VMS), and Iceland's largest startup competition (Gulleggið), serving roughly 100 early-stage startups annually through government and corporate sponsorship.
- Company typePrivate
- Founded2000
- HeadquartersReykjavík, Iceland
- Headcount1–10
- GTM typeB2B
- OfferingServices
What KLAK does
KLAK – Icelandic Startups is a Reykjavík-based non-profit startup support organization founded in 2000, operating seven distinct program brands that together serve approximately 100 startups annually. Its core offerings span four-to-sixteen-week business accelerators — Hringiða (green/circular economy), Startup SuperNova (run with Nova and Huawei), Startup Tourism, KLAK health (health technology), Snjallræði (social innovation, co-developed with MIT DesignX), and Dafna (a four-month incubator for Technology Development Fund grant recipients) — supplemented by KLAK VMS, a mentoring service modeled on MIT's Venture Mentoring Service methodology with over 200 trained mentors, and Gulleggið, Iceland's longest-running startup competition.
The underlying "technology" is operational rather than software: a structured mentoring methodology (each startup matched with 2–4 conflict-free mentors), MIT VMS-trained mentor pool, workshop curricula (some co-designed with MIT DesignX), event infrastructure including pitch competitions (Shark Tank, Prosecco & Pitch), and physical delivery through Gróska, Iceland's flagship innovation center in Reykjavík. Programs are reached via inbound online applications (Babele, Acterio platforms), regional roadshows around Iceland, and direct outreach through university partnerships with HÍ and HR.
KLAK is funded by a hybrid of Icelandic government grants (Rannís/Tækniþróunarsjóður, Ministry of Environment, Energy and Climate, Reykjavíkurborg, Ministry of Social Affairs) and corporate sponsorships from Marel, Terra, KPMG, Deloitte, Orkuveitan, Kerecis, Landsvirkjun, Origo, and others. All programs are provided free of charge to participating startups. Recognition includes consecutive listings on the Financial Times "Europe's Leading Start-up Hubs" in 2024 and 2025. KLAK has been operating for 25 years as of 2025, with a new board seated in June 2026 to lead the next phase.
KLAK firmographics
Firmographics- Name
- KLAK
- Legal name
- KLAK Icelandic Startups
- Website
- https://klak.is
- Company type
- Private
- Founded year
- 2000
- Operating status
- Operating
- Headcount range
- 1–10 employees
- Short description
- KLAK – Icelandic Startups is a Reykjavík-based non-profit founded in 2000 that runs multiple accelerators (Hringiða, Startup SuperNova, Startup Tourism, KLAK health, Snjallræði, Dafna), a MIT-modeled mentoring service (KLAK VMS), and Iceland's largest startup competition (Gulleggið), serving roughly 100 early-stage startups annually through government and corporate sponsorship.
- Ownership category
- akta.pro rank
KLAK industry classification
Industry- Product category
- Startup Acceleration Services
- NAICS
- Professional and Management Development Training (611430), Educational Support Services (611710)
- SIC
- Services-Educational Services (8200), Services-Management Consulting Services (8742)
- akta.pro primary industry
- Youth Business Incubators & Accelerators (EDAMAHAC)
- akta.pro secondary industries
- Entrepreneurship Foundations & Startup Basics (EDAMAHAA), Mentoring, Coaching, Alumni Networking & Peer Support Platforms (EDAFAMAN)
Keywords
Where KLAK is headquartered
LocationHeadquarters
- HQ city
- Reykjavík
- HQ country
- Iceland
- HQ region
- Europe
Offices1 record
Markets served
KLAK business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure
Revenue model
- Government Grants and Support: KLAK operates as a non-profit organization supported by government funding and institutional partnerships. Revenue comes from grants from ministries, government bodies like Rannís/Tækniþróunarsjóður, and municipal support.
- Corporate Sponsorships: Corporate sponsors including Marel, Terra, Orkuveitan, KPMG, Deloitte, and others provide financial and in-kind support for specific accelerator programs in exchange for association with innovation ecosystem.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Freemium | Pay-as-you-go | Free participation in all accelerator programs |
Go-to-market motion2 records
Distribution channels4 records
Marketing channels6 records
KLAK product offering
Product offeringCore offering
KLAK operates a portfolio of startup acceleration programs, mentoring services, and innovation competitions to support Icelandic entrepreneurs. Core offerings include multiple business accelerators (Hringiða for green/circular economy solutions, Startup SuperNova with international partners Nova and Huawei, Startup Tourism, KLAK health, and Snjallræði for social innovation), the KLAK VMS mentoring service with over 200 trained mentors based on MIT Venture Mentoring Service methodology, the Dafna incubator for Technology Development Fund grant recipients, and the Gulleggið startup competition.
Product overview
KLAK (KLAK – Icelandic Startups) is a startup accelerator and support organization that operates a portfolio of distinct programs. The core offerings include three business accelerators — Hringiða (green/circular economy solutions), Startup SuperNova (in partnership with Nova and Huawei), and Startup Tourism (tourism sector) — plus KLAK health (health technology), and Snjallræði (social impact, in collaboration with MIT DesignX). Supporting infrastructure includes Dafna (an incubator/workshop program for Technology Development Fund grant recipients), KLAK VMS (a mentor service modeled on MIT's Venture Mentoring Service with over 180 active mentors), and Gulleggið (Iceland's largest startup competition). Together, the programs support approximately 100 startups per year.
Differentiator
Problem solved
Functional benefit
Brands
- Gulleggið: Icelandic startup competition, the largest and oldest entrepreneur competition in Iceland.
- Hringiða
- Startup SuperNova
- Startup Tourism
- Dafna
- Snjallræði
- VMS Mentoraþjónusta
Products and services
- Hringiða Six-week business accelerator for startups with green and circular economy solutions, providing mentoring, workshops, investor connections, and pitch opportunities. Backed by Terra, Orkuveitan, Ministry of Environment, Energy and Climate, Reykjavíkurborg, and Faxaflóahafnir.
- Startup SuperNova Business accelerator run by KLAK Icelandic Startups in partnership with Nova (University of Iceland) and Huawei, with support from Gróska innovation center. Provides international market access and connections for Icelandic startups.
- Startup Tourism Five-week business accelerator for entrepreneurs in the tourism sector, providing office space, education, training, mentorship, and industry connections. Past participants include Alheimur, True Arctic Travel, HotSheep, Iceland Cover, and Guyde.
- KLAK health Five-week business accelerator tailored to health technology startups, providing specialized education, expert guidance, and investor access. 2025 participants include Vera, Rewire AI, Medvit Health, and LifeTrack. Partner Kerecis hosts Founders Lunch events.
- Snjallræði 16-week community growth incubator for startups focused on societal challenges and UN Sustainable Development Goals. Run by KLAK in collaboration with MIT DesignX and Höfði Peace Centre. Includes four two-day MIT DesignX workshops over the 16-week period.
- Dafna Four-month incubator comprising workshops and mentoring sessions for Sprota and Vöxtur grant beneficiaries from the Technology Development Fund (Rannís/Tækniþróunarsjóður). Developed in collaboration with MIT Venture Mentoring Service. Workshops held on first Thursday and Friday of each month.
- KLAK VMS (Venture Mentoring Service) Iceland's leading mentoring service modeled after MIT Venture Mentoring Service. Each startup is matched with 2-4 mentors who meet regularly with teams throughout the program. Over 200 active mentors with no financial interest in the projects, working solely in the interests of startups.
- Gulleggið Iceland's oldest and largest startup competition organized by KLAK, featuring a multi-stage selection process culminating in a final pitch event with monetary prizes and acceleration opportunities. KLAK also organized the Creative Business Cup Iceland national competition.
Quantifiable outcome
- Over 1.4 billion ISK raised by Hringiða alumni
- +4 more outcomes
Companies that use KLAK
Customer profileNamed customers16 records
Segments5 records
Ideal customer profiles6 records
KLAK technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature3 records
KLAK partnerships and signals
Strategic signalPartnerships
Ten partnerships are on record, tiered core, major and minor.
- Tækniþróunarsjóður / RanníscoreA new three-year agreement was signed for Dafna, KLAK's workshop and mentoring program for Technology Development Fund grant recipients. Tækniþróunarsjóður provides grants to startups that KLAK then supports through the Dafna program.
- GróskacoreGróska serves as the home of KLAK and hosts multiple startup programs including Startup SuperNova. A partnership agreement was signed extending the collaboration through 2027 for Startup SuperNova.
- Nova (University of Iceland)coreNova is a partner in Startup SuperNova, an international accelerator program co-run by KLAK with support from Gróska.
- HuaweicoreHuawei is a partner in Startup SuperNova, providing international connections and support for the accelerator program.
- MIT DesignXcoreMIT DesignX collaborates on Snjallræði, providing four two-day workshops over a 16-week period. MIT experts travel to Iceland to share knowledge and methodologies for social innovation.
- Höfða friðarsetur ReykjavíkurborgcoreHöfða Peace Centre co-founded Snjallræði in 2018 and coordinates the social innovation accelerator program together with KLAK.
- Háskóli Íslands (University of Iceland)majorUniversity of Iceland is a partner in Snjallræði and signed an expanded cooperation agreement to strengthen the community growth space initiative.
- Háskólinn í Reykjavík (Reykjavik University)majorReykjavik University signed an expanded partnership agreement for Snjallræði, bringing increased involvement from 2022 onwards.
- ADVEL lawyersminorADVEL lawyers signed a cooperation agreement with KLAK VMS to further strengthen mentoring services through legal expertise provision.
- Íslenski SjávarklasinnminorIcelandic Ocean Cluster initiated the 100% Fish project that inspired KLAK's participation in Arctic Bio Hack to explore innovative uses of marine resources.
Scale indicators5 records
Recent moves6 records
Expansion highlights6 records
KLAK competitors and assessment
Company assessmentDirect peers
- Startupbootcamp: Global accelerator network with vertical-specific programs (FinTech, Health, Smart Cities). Comparable to KLAK's verticalized approach (KLAK health, Hringiða for green, Startup Tourism) and mentor-driven cohort model.
- Antler: Global early-stage investor and accelerator with strong Nordic presence. Comparable to KLAK in providing structured programs, mentor matching, and pre-seed funding, with a similar mission to support founders from idea to scale.
- Founders Factory: London-based accelerator and venture builder offering cohort programs and corporate venture partnerships. Comparable to KLAK in blending corporate sponsorship (Marel, KPMG, Deloitte), structured programs, and international scaling support.
- Startup Wise Guys: Nordic/Baltic accelerator focused on early-stage B2B SaaS and deep tech startups. Most directly comparable to KLAK in terms of regional focus and cohort-based accelerator model serving Northern European founders.
Broad incumbents
- MassChallenge: Global non-profit accelerator network running equity-free programs for startups. Comparable to KLAK as a non-equity-taking, government/corporate-sponsored accelerator with vertical specializations and international partner networks.
- Techstars: One of the world's largest global accelerator networks operating mentorship-driven programs across multiple verticals. Comparable to KLAK as a multi-program accelerator delivering structured cohort-based support, but at vastly greater scale and geographic reach.
Regional players
- Nordic Makers Summit / NORA: Nordic AI, Robotics and Automation partnership organization. Comparable as a Nordic-region funding and ecosystem partner that KLAK collaborates with on initiatives like the Arctic Bio Hack project.
Emerging players
- Seedstars: Switzerland-based accelerator focused on emerging markets and smaller ecosystems. Comparable to KLAK in supporting founders in smaller/niche geographies where international exposure is a key value proposition.
Market position
Strengths5 records
Weaknesses4 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
KLAK social profiles
Digital presenceKLAK financial estimates
Financial estimateRevenue estimate
Valuation estimate
KLAK leadership team
Management profileNumber of profiles
Profiles7 records
KLAK funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
KLAK M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about KLAK
What does KLAK do?
KLAK operates a portfolio of startup acceleration programs, mentoring services, and innovation competitions to support Icelandic entrepreneurs. Core offerings include multiple business accelerators (Hringiða for green/circular economy solutions, Startup SuperNova with international partners Nova and Huawei, Startup Tourism, KLAK health, and Snjallræði for social innovation), the KLAK VMS mentoring service with over 200 trained mentors based on MIT Venture Mentoring Service methodology, the Dafna incubator for Technology Development Fund grant recipients, and the Gulleggið startup competition.
Is KLAK a public or private company?
KLAK is a private company. It is classified as nonprofit foundation owned and is currently operating.
When was KLAK founded?
KLAK was founded in 2000. It employs 1 to 10 people.
Where is KLAK based?
KLAK is headquartered in Reykjavík, Iceland, in the Europe region.
How does KLAK make money?
Two revenue lines are on record. Government Grants and Support is the primary driver. The others are corporate Sponsorships.
Who are KLAK's main competitors?
Direct peers on record are Startupbootcamp, Antler, Founders Factory and Startup Wise Guys. Broad incumbents are MassChallenge and Techstars. Nordic Makers Summit / NORA is listed as a regional player. Seedstars is listed as an emerging player.
Does KLAK have an API?
No public API is recorded for KLAK.
What industry is KLAK in?
KLAK's product category is Startup Acceleration Services. Its primary akta.pro industry code is EDAMAHAC, Youth Business Incubators & Accelerators, with a secondary code of EDAMAHAA, Entrepreneurship Foundations & Startup Basics. Its NAICS code is 611430 and its SIC code is 8200.