Iceland's dynamic economic transformation is driven by innovation and research

13.2.2025

Iceland: Growth and economic transformation, a recent article, published on The Business Report (TBR) website, explores Iceland's progress in innovation, among other topics, highlighting the key focus areas of Rannís in fostering innovation.

Agust_hjortur_ingthorsson-1200x800pxIceland's dynamic economic transformation is driven by innovation and research, with RANNÍS playing an important role in advancing progress. As a cornerstone of the country's research and development (R&D) ecosystem, RANNÍS has been instrumental in increasing Iceland's R&D investment from 2.2% to 2.8% of GDP since 2015, supporting groundbreaking advancements in sustainability, technology, and Arctic research.

“Iceland offers a highly receptive environment for research and innovation,” says Ágúst Hjörtur Ingþórsson, Director General of RANNÍS, highlighting the potential for expanded international collaboration, particularly with the United States.

The article also features commentaries from Pétur Þ. Óskarsson (CEO of Business Iceland), Tómas Már Sigurðsson (CEO of HS Orka), Björn Brynjúlfsson (CEO of Borealis Data Center), and Haflidi Halldórsson (CEO of Icelandic Lamb).

Here you can read The Business Report coverage.









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