Iceland’s Innovation Award is awarded by Rannís, Business Iceland, the New Business Venture Fund, and Hugverkastofan to companies that are considered to have excelled in developing a new product or service based on research and scientific work and have achieved success on the market. The award was first awarded in 1994, and its purpose is to draw attention to the important relationship between research and knowledge acquisition and increased value creation in the business sector.

When selecting a recipient, factors include whether the company is a start-up based on innovative technology and has high benchmarks for knowledge. An assessment is then made of the added value of products and whether the company has been successful in the market. Companies are evaluated on how they will stay on course and whether the management is exemplary. Finally, it is evaluated whether the company is a role-model for others to follow the same path.

Recipients

• 2022 Sidekick Health

• 2021 Lauf Forks

• 2020 Controlant

• 2019 Curio

• 2018 Kerecis

• 2017 Skaginn

• 2016 Dohop

• 2015 Zymetech

• 2014 Meniga

• 2013 Valka

• 2012 Primex

• 2011  Mentor

• 2010  Nox Medical

• 2009  Mentis Cura

• 2008  ORF líftækni

• 2007  Hafmynd ehf.

• 2006  Stjörnu-Oddi

• 2005  CCP

• 2004  Lyfjaþróun

• 2003  Altech JHM

• 2002  Stofnfiskur

• 2001  Fiskeldi Eyjafjarðar

• 2000  Bláa lónið

• 1999  Flaga

• 1998  Íslensk erfðagreining

• 1997  Hugvit

• 1994  Vaki fiskeldiskerfi