Snjallræði will be Iceland’s first joint university accelerator, with a focus on venture design across the universities. Venture design is a structured approach to developing ideas into impactful ventures by combining design thinking, entrepreneurship, and business model exploration, but rooted in research.

Like previous years the accelerator is run in collaboration with MIT DesignX and is based on their methodology. This year, trainers from MIT in Boston will be responsible for training the Icelandic trainers under the so-called “Train the Trainers” program. It is a great honour, as this is the first time they have conducted such training outside MIT.

A total of 45 applications were received for the Smart Competition this time, and 10 teams were selected to participate in the competition. The selected projects this year are considered to have the potential for broad, societal impact.

Since its establishment in 2018, Snjallræði has been a leading platform for the development of solutions that promote sustainability and social progress. The project has created opportunities for students, recent graduates, and university staff to work on real-world challenges with the support of experts and partners from industry.