There’s nothing like a sea breeze.
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Leader of the Progressive Party, Sigmundur Davíð Gunnlaugsson, who held the mandate to lead coalition talks, presented the government agreement between the Progressive Party and Independence Party to the President of Iceland Ólafur Ragnar Grímsson at the presidential residence Bessastaðir this morning.
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Watch an audio slideshow of how traditional Icelandic rhubarb stew is made. Rhubarb is one of the few vegetables that grows effortlessly in Iceland and for that reason it used to be a highly-valued addition to the traditional diet of fish and lamb.
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Icelandic singer-songwriter Björk and Icelandic financial services provider Audur Capital have established a joint venture fund called BJÖRK, after the singer. The fund will be used to invest in seed companies in Iceland.
Björk speaking during the "Innovit" seminar in Iceland on October 18, 2008. Copyright: Icelandic Photo Agency.
“It’s Audur’s idea and it’s a great honor that [the fund] is named after me,” Björk told Morgunbladid when she and Audur’s chief executives, Halla Tómasdóttir and Kristín Pétursdóttir, presented their initiative yesterday.
It is hoped that the fund will have close to ISK 2 billion (USD 17 million, EUR 12 million) in capital and that companies will be able to apply for grants from the fund next year. Audur Capital has already contributed ISK 100 million (USD 867,000, EUR 614,000) to the fund.
Björk said she will assist Audur Capital with the venture fund in any way possible. The singer has publicly expressed her support for Icelandic seed companies, both domestically and abroad, in the past months, bringing attention to their operations.
“It was often necessary but now it’s of vital importance. I hope that both seed companies and people with money will take an interest in this initiative,” Björk encouraged, adding that she is pleased about the fund’s focus on environmentally-friendly operations.
Tómasdóttir, executive chairman of Audur Capital, said the idea for the fund was inspired by Björk’s work with the grass root. “It became clear after the banks collapsed and we were faced with these unbelievable times in Iceland that innovation and seed companies have had it very difficult.”
Tómasdóttir stated that a new Iceland has to be more diverse than it used to be. “We especially look towards deploying money to sustainable companies.”
The fund will only support companies that are financially profitable, socially responsible in terms of business methods and environmentally friendly. “We believe there are many investors out there who have limited stock investments to choose from in the current environment,” Tómasdóttir said.
Tómasdóttir added that the government should present a policy on innovation. “But I think we have reached a point where the grass root and the people in this country have become more powerful and they should present a vision for the future rather than the government.”
Investing in seed companies is risky, Tómasdóttir admitted, but still the right way to go.
Click here to read an interview with Halla Tómasdóttir.
This year, Iceland Review celebrates its 50th anniversary. In ‘Cover Story’, the magazine’s first editor, Haraldur J. Hamar, recalls its history and discusses the work of its first designer, Gísli B. Björnsson. The issue is packed with colorful articles, ranging from notable artists and athletes to memorable coffee and pancakes at the Reykjavík wharf. Click here to subscribe to Iceland Review and here to look at a selection of pages from the current issue.
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Reykjavík Queer Choir’s annual spring concert takes place on Friday, May 24.
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