Iceland has recently gained a new venture studio in Reykjavik with plans involving decentralized solutions to difficult problems in heavy data spaces such as energy, health, genetics, and logistics. The funds will be mainly focused on developing decentralized solutions for those specific industries.
Iceland Venture Studios will also set up to bring funds and mentorship for startups that focus on the heavy lifting necessary for developing an authentic smart, decentralized solution.
“Personal data, privacy and security are acknowledged mega-trends that are ready for decentralization,” said co-founder Bala Kamallakharan. “We believe in investing in founders and companies who understand and are accelerating the adoption of this technology shift to leverage customer centricity. We believe the next generation of founders and companies that are changing the nature of data capture, processing, interactivity and algorithmic development of value with the human-machine interaction will lead us into the age of AI and AR.”
Startup funds will also include 50Skills, FLOWVR, and RetinaRisk. While not every company in the portfolio will be blockchain related, the main goal for this venture studio is to bring distributed, decentralized thinking to multiple startups all over the world.
“Our team resolves challenges with solutions around technology strategy, marketing and sales to recruiting and talent development targeted specifically to these companies and their needs and help take their companies to the next level,” said Kamallakharan.
Decentralization is very important among people who’ve gotten involved with blockchain and cryptocurrency in general. With Icelandic Venture Studios becoming involved in a quiet corner of the world, it’s going to be quite interesting to see what kind of startups they manage to help achieve their goals in creating the best-decentralized business in the coming future.