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Business Iceland
Business Iceland
12. March 2021

Newly announced Reykjavik Science City

Newly announced Reykjavik Science City
Ideally located close to downtown and the university areas, the newly formed Reykjavík Science City will be a hub for innovation, research, and technology.

In collaboration with partners, Business Iceland announced the formation of the Reykjavík Science City. Ideally located close to downtown and the university areas, the newly formed Reykjavík Science City will be a hub for innovation, research, and technology. It will seek to create value and market Iceland internationally as a destination for research, development, and investment. There will be opportunities in key and emerging markets. These include biotech and health-related technology, engineering, computer science, and electronic gaming, to name a few. Moreover, there will be united efforts to attract foreign companies and specialists to Iceland and increase export growth.

"It is an exciting opportunity to market Reykjavík Science City as a place to nurture knowledge building. Across the Nordics and beyond, similar efforts have yielded fabulous results and new approaches for society. One of Iceland's export strategy goals is to enhance knowledge industries and encourage international collaboration. It is gratifying to see policy implemented in this way," says Pétur Óskarsson, managing director of Business Iceland.

Together with Business Iceland, a cooperative forum backing the Reykjavík Science City was formalized. Dagur B. Eggertsson, Mayor of Reykjavík, Jón Atli Benediktsson, Rector of the University of Iceland, Ari Kristinn Jónsson, Rector of Reykjavík University, Páll Matthíasson, Director of Landsspítali hospital and Sigurður Magnús Garðarsson, Chairman of the Board of the University of Iceland Science Parks, also signed the agreement at the Nordic House.

Reykjavík Science City's future vision, first approved in 2013, is to develop a diverse and inspiring setting to meet the challenges of a dynamic global environment. The area will be a dense mix of universities, university hospitals, knowledge companies, science parks, and entrepreneurship hubs. Reykjavík Science City will have apartments for the general public and student housing closely connected to primary and nursery schools a short distance from green spaces and parks. The plan integrates retail services, tradespeople, cultural events, and connection to public transport and Reykjavík's superb walking and biking path network.

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