Iceland review - 2013, Page 105

ICELAND REVIEW 103
Invest
In Iceland
addition to competitive salaries and well-educated
workforce with a can-do attitude which are available
to startups and seed companies here, the country’s
small population serves as a good test market for
new products. But Helga also stresses that suc-
cessful Icelandic startups must be “born global,”
looking internationally for the best and widest mar-
ket for their products and services.
NSA is eager to partner with like-minded interna-
tional investors from the earliest stages of financing,
collaborations in which its own expertise of the local
market and legal and commercial environments
in Iceland can be combined with non-Icelandic
investors’ knowledge of specialized industries and
specific global markets. Additionally, NSA is always
on the lookout for talented international consultants
and advisors with strong knowledge of international
markets and languages who can contribute their
expertise and “help grow portfolio companies on a
global scale,” says Helga.
Among the many innovative companies that NSA
funds there are several cleantech and eco-friendly
startups including the carbon-neutral data storage
company GreenQloud, and Geogreenhouse, a high-
tech greenhouse utilizing geothermal energy to pro-
duce pesticide-free tomatoes for export to the U.K.
This summer, however, the NSA will begin managing
a new green fund with its own environmental criteria-
based investment strategy, focusing on impact
investments which prioritize clean technology and
environmentally-friendly practices.
NSA has an in-depth understanding of the risks
and rewards associated with investing in early stage
venture in Iceland and works with local and interna-
tional investors to help both the local community and
potential international investors understand invest-
ment risks and how to manage them, as well as
how to legally structure a new company and solicit
investments in Iceland and what reimbursement
opportunities for research and development are
available in the country. Such efforts are part of NSA
ventures’ larger community priorities. For while it is
a commercially-driven fund which values financial
gains as a measure of success, it also recognizes its
role in creating a more stable business landscape in
Iceland, facilitating the creation of new technology,
jobs and export revenue.