Iceland geothermal energy network to facilitate startup investment program

Iceland geothermal energy network to facilitate startup investment program Iceland Geothermal Cluster, a network of organisations within the geothermal energy sector in Iceland, will be facilitating Startup Energy Reykjavik – an investment program with focus on energy-related business ideas.

Startup Energy Reykjavik consists of an annual 10-week long program in Reykjavik, Iceland where selected companies or ideas receive $40,000 USD in seed funding. Anyone with a business idea can apply as long as the proposal is related to the energy sector, either directly or indirectly.

The mentorship-driven seed stage investment program also provides founders with a place to work at Reykjavik University, ten weeks of intensive mentorship, and the chance to pitch to angel investors and venture capitalists at the Investor Day event at end of the program.

Startup Energy Reykjavik was founded by Landsvirkjun, Arion Bank, GEORG and Innovation Center Iceland in December 2013. The Investor Day will be held on May 30th 2014.

More information about the program and the application procedures can be found at www.startupenergyreykjavik.com. Additionally, more information about the geothermal energy sector in Iceland can be found at www.icelandgeothermal.is.