The Startup Ecosystem of Reykjavik
Reykjavik has 191 startups in our sample database. This represents about 93% of Iceland’s startups. Reykjavik is the highest-ranked startup ecosystem in Iceland.
CITY RANKING
While Reykjavik decreased by 14 spots in its global rank in the Global Startup Ecosystem Index of 2024, its ranking in Iceland remained stable at 1 nationally since 2023.
National Ranking
In Iceland
Regional Ranking
In Western Europe
Global Ranking
Worldwide
Ecosystem
Startup Ecosystem Overview
Startups
Reykjavik Top Startup Industries
19 startups
12 startups
9 startups
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Ecosystem HealthCheck
Reykjavik Ecosystem Health Check
The health check tables allow you to look at the performance Reykjavik has in each of the parameters that are part of StartupBlink's ranking algorithm. There are five tables, corresponding to the three subscores, the subscore analysis and industry ana...
- Overperformance
- Performance equal to global ranking
- Underperformance
ECOSYSTEM
Browse the startup ecosystem database of Reykjavik
Become our Reykjavik Ecosystem Partner
Startup Ecosystem Charts
Startup Funding in Reykjavik2017 - 2024
Startup Funding in Reykjavik 2017 - 2024
From 2022 to 2023, startup funding in Reykjavik has decreased by 42.71%. During this period, the number of deals in Reykjavik has decreased by 43.48%. Since 2017, total startup funding in Reykjavik exceeded US$ $1.11B.
Average Funding in 2023
$4.41M
Funding in 2023
$114.61M
Deals in 2023
26
USD
Amount of Funding (USD)
Number of Deals
Ecosystem
The Startup Ecosystem in Reykjavik
Global Rank
Reykjavik is ranked within the top 200 startup ecosystems globally.
Top Industries
Reykjavik’s startups excel particularly in Healthtech where it ranks 61 and in Foodtech, and Energy & Environment. Find out more
Top Cities for Startups in Iceland - Ranked by StartupBlink
2024 National Rank  | City | Global Rank |  | | | |
|---|---|---|---|---|---|---|
1st 0 | 155th - 14 | 4.110 | 00.00 | 00.00 | 00.00 |
ECOSYSTEM
Why should you join Reykjavik's Startup Ecosystem?
Overview
Within Reykjavik there is an increased attraction for entrepreneurs to set up their startups in industries such as Healthtech, Foodtech, Energy & Environment. These three industries represent about 21% of the startups represented on the Startup Ecosystem Map of Reykjavik.
1st
National Rank
40th
Regional Rank
Overview
Reykjavik is Iceland's 1st best startup ecosystem and is ranked 40th in Western Europe. With a population of 0.1M - 0.5M people, Reykjavik is ranked 155th in the world. The city has some notable startup success stories including Activity Stream.
ECOSYSTEM
Startup Infrastructure in Reykjavik
Coworking Spaces
BLOG
Recent Posts
Wed Apr 02 2025
Corporate Startup Activity Index 2025
For the first time ever, 372 corporations across 30 countries, 11 major industries, and 10 sub-industries have been ranked based on how actively they engage with startups. StartupBlink’s Corporate Startup Activity Index is the world’s first benchmark for corporate startup engagement — powered by real data, global partnerships with top corporations, governments and data sources, […]
Thu Mar 06 2025
The Impact of Government Support on Startups
A robust startup ecosystem creates a sense of community that brings entrepreneurs together and helps them feel less isolated. It gives them access to mentors, advisors, fellow entrepreneurs, and talents. The foundation of such an ecosystem largely relies on government support. Good policies create a fair and supportive environment that helps startups grow. Bad policies […]
Thu Feb 20 2025
Learning from Bulgaria: Stakeholder Engagement in Startup Ecosystems
In this episode of the Startup Ecosystem Podcast, we’re traveling back in time by revisiting an old recording to explore the state of Bulgaria’s startup ecosystem in 2022. This episode features an interview by Eli David Rokah, CEO of StartupBlink, with Momchil Vassilev, the Managing Director of Endeavor Bulgaria, discussing how different stakeholders’ engagement in […]