2022 | StartupBlink View the Global Startup Map p. 175 For the startup scene, Iceland makes itself attractive by offering favorable legislation and one of the lowest tax rates in Europe. Icelandic entrepreneurs also benefit from a number of government incentives, particularly in the R&D and green energy sectors. In addition, Iceland creates favorable legislation for investments. For example, the country offers a Golden Investor Visa as well as set up initiatives like Startup Reykjavik to connect local startups with foreign investors. Iceland’s small population may be seen as a challenge, but the country’s position between North America and Europe means fast travel times to bigger consumer markets. Further, Iceland has great international relationships: it is a member of the EFTA convention, it participates in a Single Market with the EU through the EEA agreement, it has established a Free Trade Agreement with China, and it is a member of the Schengen area. Iceland is on a mission to increase innovation and competitiveness, and we are positive that this approach will prove beneficial for the startup scene. Notable Startups and Ecosystem Champions ÂAlvoTech Reykjavík, Iceland AlvoTech broadens the availability and accessibility of biosimilars. ÂLucinity Reykjavík, Iceland Lucinity delivers an open productivity platform for AML (Anti-Money Laundering) compliance. ÂKaptio Reykjavík, Iceland Kaptio is the next generation booking system that places customer experience at the heart of the travel economy.