Collaboration is ever growing at the Iceland Ocean Cluster

– But there is always room for more!

Iceland Ocean Cluster regularly gathers data on collaboration among companies within our ecosystem of the Ocean Cluster House. A recent survey revealed that significant progress has been made in strengthening cooperation among the more than 70 companies in the building. However, opportunities remain to improve this even further, especially in connecting these companies with Ocean Clusters broader domestic and international community. This 2025 data collection is a great platform to build on these existing collaborations can be a useful showcase of best practice for our network of existing, developing and emerging sister ocean clusters around the world.

How do new collaborations happen?

Most interactions within the house occur through chance meetings or informal chats—often around the coffee machine, which remains a key venue for those first, initial conversations. Many entrepreneurs and businesses in the cluster are actively expanding their networks and can have a number of aims, launching their new ideas, growing their market presence or connecting with investors and product development partners.

There are numerous examples of tech companies collaborating on solutions and sharing knowledge. Additionally, some firms offer consulting or technical services within the building, though currently they make up less than 10% of the total companies. These businesses play a critical role in securing grants, providing general support services, and connecting startups with investors.

Companies focused on fisheries or aquaculture have developed particularly close collaborations with who?. For example, service and technology firms have been discussing partnerships related to safety, quality, and equipment development.

Iceland Ocean Cluster network has also been instrumental in connecting companies with international and domestic partners. The cluster’s rapidly growing international network has provided valuable connections for multiple firms. Similarly, its relationships with domestic experts and partner companies have helped support the residents of the Ocean Cluster House

in various ways. Some of these connections involve experienced professionals, both in Iceland and abroad, who have retired from active roles but are willing to mentor entrepreneurs. We believe there is an opportunity to do even more in this regard—attracting more individuals to mentor startups and increasing collaboration with large partner companies outside the cluster.

In the image above, you can see the connections between companies and offshoots in the Ocean Cluster House. Upon closer inspection, it becomes clear that individual companies are very diligent in networking within the house. These companies have nothing in common except that they share people who have invested in cultivating these connections.

How do we support a strong network?

The image above illustrates connections between companies and startups in the Ocean Cluster House. A closer look reveals that some firms are particularly proactive in forming connections. These companies don’t necessarily have a common industry focus, but they share a strong internal culture of networking.

Several respondents suggested increasing opportunities for companies to share their activities and challenges at open events. This could take place in short networking events, beyond the existing public showcases. Some participants noted that new collaborations had formed through casual conversations at the weekly Friday coffee meetups, where one company hosts coffee and presents its work. However, a common issue at these events is that people tend to sit with their colleagues rather than interact with others. Finding a way to encourage more diverse interactions—without forcing it—could enhance networking opportunities.

Iceland Ocean Cluster regular hosts more targeted meetings where groups both companies inside and outside the building and direct network, can connect. These groups include a diverse array of actors, from technology firms focused on processing or AI, to companies specializing in full utilization of marine resources, to those involved in sales and branding.

How do we engage less connected companies?

There are companies within the house that have little to no collaboration with others. In many cases, this is due to their primary business focus may be outside of the blue economy. However, even companies that are not directly involved in the ocean economy—such as architectural firms—have found ways to engage, working on projects related to aquaculture and designing innovation developments. Over the 13-year history of the Ocean Cluster House, there have been several cases where businesses and individuals initially unrelated to the blue economy eventually found their way into the sector after being part of the cluster.

Some companies with limited engagement have been in the house for a long time and may have moved past the initial excitement of a new environment. The annual turnover rate in the building has been around 10-15% in recent years. The availability of startup desks for rent has been a key factor in maintaining this turnover, introducing new businesses and increasing diversity. Conversations with these less-engaged companies indicate that they are open to collaboration but have not actively sought it out. It is therefore important to introduce new energy and stakeholders into the house and new residents or visitors and keep engaging all companies in house in opportunities for engagement. It is often also up to new residents in the building to take the initiative to meet these firms and explore potential partnerships.

The Role of Investment and Finance

The Ocean Cluster House is home to five investment-related companies, most of which have been highly open to meeting other firms, mentoring, and forming connections. Having finance professionals and entrepreneurs in the same space creates significant value, and these relationships should be further activated and desirable ecosystem inhabitants.

Conclusion

Overall, respondents agreed that the Ocean Cluster House has successfully created a positive and collaborative atmosphere, with community members generally open to working together. However, maintaining and strengthening this cooperation is essential, as collaboration is the foundation of any successful cluster. A well-designed environment that fosters networking and partnerships is not guaranteed—but when done right, it can create unique opportunities for companies within the cluster and build a stronger ecosystem and professional network for everyone involved.

Authors: Þór Sigfússon, Alexandra Leeper og Oddur Ísar Þórsson.