Founder and chairman, Thór Sigfússon Photo: IOCFounder and chairman, Thór Sigfússon Photo: IOC

The Iceland Ocean Cluster celebrates its 10th anniversary today as it continues to build networks between industry, R&D and investors, adding value to the blue economy of Iceland.

The Ocean Cluster House in Reykjavik Harbour provides space for seafood start-up companies which often go on to become leaders in areas such as ocean proteins, co-working space, education and food halls.

In its decade of operation the IOC has overseen 150% growth in blue start-ups in Iceland, an expanding network of clusters around the world and increasing interest among young people and entrepreneurs in Iceland’s blue economy. Five of the most successful start-ups nurtured by IOC are now worth US$600 million.

The IOC has set its agenda for the next decade. Its four main themes are to inspire and train global fisheries to do more with less, to coach and nurture a large number of blue start-ups both domestically and internationally, to use all necessary steps to safeguard the ocean environment in the Arctic and to assist other countries in establishing their own ocean clusters.

The IOC has also expanded its network by opening five sister clusters in the US. The IOC cluster model has also been used as a prototype by new ocean clusters in South America, Europe and the Pacific. The first cluster outside of Iceland, the New England Ocean Cluster House in Portland Maine, opened its doors in 2020.

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